=Tempur Sealy Int'l (TPX) reported earnings on Wed 26 July 2017 (a/h)

Tempur Sealy Int'l beats by $0.03, reports revs in-line; raises low-end of FY17 Adj-EBITDA guidance :

• Reports Q2 (Jun) earnings of $0.45 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.42; revenues fell 18.0% year/year to $659.3 mln vs the $661.65 mln Capital IQ Consensus.
• Gross margin was 40.7% as compared to 41.9% in the second quarter of 2016.
• For the full year 2017, the Company currently expects adjusted EBITDA to range from $425-450 mln (Prior $400-450 mln).
• "We are pleased with our sales and EBITDA performance, despite the loss of our largest customer, and, we are encouraged that our business trends accelerated throughout the quarter. While worldwide industry trends continue to be a bit sluggish, we have outperformed our expectations and are raising the midpoint of our 2017 financial guidance."