Tempur Sealy (NYSE:TPX) Surprises With Q3 Sales

Tempur Sealy Q3 Sales

Tempur Sealy released strong third quarter results that beat analyst expectations and outstripped even their own guidance from just last month.

The company, which manufactures and retails mattresses, bedding, and other sleep products, saw its net sales jump by 8% to $1.34 billion, a 6.4% increase on a constant currency basis.

Analysts had expected the company to report sales of $1.31 billion.

Tempur Sealy Earnings

Tempur Sealy's net income also increased, rising by 14.5% to $209.2 million, or $2.21 per diluted share. This was better than the $2.10 per diluted share that analysts had predicted.

The company's adjusted EBITDA, a measure of profitability, also increased, by 10.9% to $342.1 million.

Tempur Sealy said that the strong results were driven by "continued strength in our core North American business and the successful execution of our strategic initiatives."

Tempur Sealy Stock Performance

Tempur Sealy's stock price rose by 5% in premarket trading on Thursday following the release of the results.

The company's shares have been on a steady upward trend in recent months, having risen by more than 25% since the start of the year.

The stock is currently trading at around $100 per share, giving the company a market capitalization of approximately $7.5 billion.

Analyst Commentary

Analysts were generally positive about Tempur Sealy's results.

One analyst said that the company's "strong execution and continued focus on innovation are driving solid financial results."

Another analyst said that Tempur Sealy's "commitment to innovation and its strong brand recognition are key drivers of its success."

Conclusion

Tempur Sealy's strong third quarter results underscore the company's position as a leader in the sleep products industry.

The company's continued focus on innovation and its strong brand recognition are likely to continue to drive its success in the years to come.