=Tempur Sealy Int'l (TPX) reported earnings on Thur 27 Oct 2016 (b/o)

Tempur Sealy Int'l beats by $0.11, reports revs in-line; reaffirms FY16 Adj-EBITDA guidance :

• Reports Q3 (Sep) earnings of $1.32 per share, $0.11 better than the Capital IQ Consensus of $1.21; revenues fell 5.4% year/year to $832.4 mln vs the $835.57 mln Capital IQ Consensus.
• Gross margin under U.S. generally accepted accounting principles was 43.5% as compared to 40.9% in the third quarter of 2015.
• Earnings before interest, tax, depreciation and amortization increased 27.7% to $155.0 million as compared to $121.4 million for the third quarter of 2015. EBITDA increased 8.9% as compared to adjusted EBITDA of $142.3 million in the third quarter of 2015.
• Co continues to see Adj-EBITDA of $500-525 mln
• Briefing.com note: Co issued downside guidance in late September