Tempur Sealy Posts Strong Quarter
Tempur-Sealy rallies 9% after earnings shine, strong guidance
- Tempur-Sealy International (NYSE:TPX) guides for FY21 revenue growth of +15% to +20%, which works out to a range of $4.23B to $4.41B vs. $3.91B consensus.
- The company expects FY21 EPS of $2.30 to $2.50 vs. $1.99 consensus.
- “Our innovative products, powerful omni-channel marketing approach and robust global manufacturing capabilities position the Company well for 2021 and beyond,” says CEO Scott Thompson.
- TPX says its board increased the authorization under its share repurchase program to $400M. In the last twelve months, the company has invested over $100M in capital to support the business and over $300M in share repurchases.
- Shares of TPX are up 8.95% premarket after the sizable Q4 earnings beat.
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