Tempur Sealy Update
March 31, 2022
Tempur Sealy foresees Q1 revenue below consensus
Mar. 31, 2022 7:34 AM ETTempur Sealy International, Inc. (TPX)By: Niloofer Shaikh, SA News Editor5 Comments
- Tempur Sealy International (NYSE:TPX) expects 1Q22 consolidated net sales growth of approximately 15% Y/Y vs. consensus growth of 20.95%.
- Tempur Sealy Chairman and CEO Scott Thompson commented, “We expect that the first quarter of 2022 will be the 10th out of the last 11 quarters that we have delivered double-digit sales growth. However, while we expect double digit sales in the first quarter, recent geopolitical events, falling consumer confidence and new COVID variant outbreaks in our international markets have resulted in sales below our expectations following a strong Presidents’ Day sales period.”
- The company also elected to postpone the launch of the new international line of Tempur products that was planned for 2022 to the first quarter of 2023.
- Q1 results will be out on April 28 before the market opens.