-=Tempur Sealy Int'l (TPX) reported earnings on Thur 2 Nov 2017 (b/o)

Tempur Sealy Int'l beats by $0.03, misses on revs 

• Reports Q3 (Sep) earnings of $1.00 per share, $0.03 better than the Capital IQ Consensus of $0.97; revenues fell 12.9% year/year to $724.8 mln vs the $756.1 mln Capital IQ Consensus.
• Gross margin under U.S. generally accepted accounting principles ("GAAP") was 43.1% as compared to 43.5% in the third quarter of 2016.
• The Company also today increased its financial guidance for 2017.
  • For the full year 2017, the Company currently expects adjusted EBITDA(1) to range from $435 million to $450 million. 

=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."

Tempur Sealy Int'l (TPX) will cease doing business with Mattress Firm (MFRM)

Tempur Sealy Int'l anticipates it will cease doing business with Mattress Firm, a unit of Steinhoff (SNHFY), during 1Q17 :

Co announced that during the week of January 23, 2017, senior management of Mattress Firm Holdings (MFRM) and representatives of its parent Steinhoff International Holdings N.V. , verbally notified the Company of its intent to terminate all of their contracts with the Company in the US, if the Company did not agree to considerable changes to their agreements, including significant economic concessions.

• Co engaged in discussions to facilitate a mutually agreeable supply arrangement with Mattress Firm (MFRM).
• However, the parties were unable to reach an agreement, and the Company issued formal termination notices for all of its brands to Mattress Firm as of January 27, 2017.
• The Company anticipates it will cease doing business with Mattress Firm during 1Q17.
• THe co also filed Q4 prelim guidance w/ the press release so check our 6:06 for more details on TPX's guidance

=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

=Tempur Sealy Int'l (TPX) reported earnings on Thur 28 Jul 2016 (b/o)

Tempur Sealy Int'l beats by $0.23, beats on revs; sees FY16 EBITDA at upper end of prior range :

• Reports Q2 (Jun) earnings of $0.92 per share, excluding non-recurring items, $0.23 better thanthe Capital IQ Consensus of $0.69; revenues rose 5.2% year/year to $804.4 mln vs the $785.37 mln Capital IQ Consensus.  
  • On a constant currency basis, total net sales increased 6.6%, with an increase of 6.4% in the North America business segment and an increase of 7.6% in the International business segment.
• "We are gaining traction toward the goals we have set. Adjusted EBITDA and gross margins have increased for the third consecutive quarter, adjusted EPS is up 74%."
•  Co raises FY16 adj. EBITDA guidance to $525-550 mln from $500-550 mln.