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Tempur Sealy International, Inc. (NYSE: TPX) is the world's largest bedding provider, known for its innovative and high-quality sleep solutions. The company's distinguished brands include Tempur®, Tempur-Pedic®, Sealy®, Sealy Posturepedic®, Optimum™, and Stearns & Foster®. Operating globally through its North American and international segments, Tempur Sealy develops and distributes bedding products via retail channels such as furniture and bedding retailers, department stores, and warehouse clubs, as well as through e-commerce platforms, company-owned stores, and third-party distributors.
Tempur Sealy is committed to creating the most desired products at every price point, ensuring strong consumer loyalty and recognition as innovators. The company continuously works on expanding its portfolio and improving its supply chain to support retail partners and enhance consumer experiences. Recently, Tempur Sealy announced robust third-quarter financial results for 2023, with noticeable growth in international sales and significant gross margin expansion despite the challenging U.S. bedding market.
The company is also making strides in its planned acquisition of Mattress Firm, with expected completion in mid to late 2024. This acquisition is anticipated to complement Tempur Sealy's product development capabilities with Mattress Firm's retail network. Meanwhile, Tempur Sealy has signed post-closing supply agreements with numerous companies to ensure a diverse range of products for Mattress Firm customers.
Additionally, Tempur Sealy demonstrated strong earnings in the fourth quarter of 2023, attributed to consumer-centric innovation and operational efficiencies. The company introduced new products such as the TEMPUR-ActiveBreeze® smart bed, designed to offer personalized climate control, and the reimagined TEMPUR-Adapt® mattress collection featuring the latest TEMPUR-Material technology.
Tempur Sealy is also dedicated to its environmental and social responsibilities, with a goal to achieve carbon neutrality by 2040. The company's long-term strategies and consistent performance highlight its commitment to improving sleep quality worldwide while generating value for shareholders and stakeholders alike.
Tempur Sealy International (NYSE: TPX) has received clearance to complete its acquisition of Mattress Firm Group, the largest mattress specialty retailer in the United States, with closing expected on February 5, 2025. This follows the U.S. District Court for the Southern District of Texas denying the Federal Trade Commission's (FTC) motion for a preliminary injunction to stop the acquisition. The FTC has confirmed it will not seek emergency relief or prevent the transaction.
The combination will create the leading vertically integrated global bedding company, according to CEO Scott Thompson. The company has scheduled two conference calls: one on February 6, 2025, to discuss the transaction, and another on February 20, 2025, to review Q4 and Full Year 2024 financial results.
Tempur Sealy International (NYSE: TPX) has announced a partnership between Tempur-Pedic and Calm, the leading mindfulness app, to enhance sleep experiences for TEMPUR-Ergo® Smart Base users. The collaboration will integrate Calm's exclusive Sleep Stories®, soundscapes, and guided sleep meditations into the Sleeptracker-AI app, creating a multisensory experience through the mattress.
According to company data, 70% of consumers struggle with falling asleep, and 64% require a clear mind to do so. The TEMPUR-Ergo ProSmart Bases, launched in 2023, are designed to help users fall asleep faster through relaxation programs and minimize sleep disruptors like snoring. The new features will be available to both current and future base owners later this Spring.
Tempur Sealy International (NYSE: TPX) has unveiled its new Sealy Posturepedic® collection, building on 75 years of expertise in mattress innovation. The collection features four tiers: Sealy Posturepedic, Plus, Pro, and Elite, spanning entry-level to premium price points.
The highlight is the exclusive, patent-pending PrecisionFit™ Coils technology, which adapts to individual body shapes to maintain natural alignment. Additional features include MAXSUPPORT™ TECHNOLOGY for targeted support, DURAFLEX™ COIL EDGE for enhanced edge support, and ADVANCED SEALYCHILL™ TECHNOLOGY offering 40% more cooling capability.
Each mattress undergoes rigorous testing, including robotic simulations and a 500-mile shipping test, and comes with a 10-year warranty. Sealy maintains its position as America's #1 mattress brand, based on TraQline consumer survey data from 2023.
Tempur Sealy International (NYSE: TPX) has announced it will release its financial results for the fourth quarter and full year 2024 before the NYSE opens on Thursday, February 20, 2025. The company will host a conference call at 8:00 a.m. Eastern Time on the same day. Investors can access the webcast through the company's investor relations website at investor.tempursealy.com. A replay of the webcast will be available on the website for 30 days following the call.
Tempur Sealy (NYSE: TPX) has announced its fourth quarter cash dividend of $0.13 per share. The dividend will be paid on December 5, 2024, to shareholders who are on record as of November 21, 2024. This announcement comes following the Board of Directors' declaration of the quarterly dividend payment.
Tempur Sealy International (TPX) reported strong Q3 2024 financial results with consolidated sales growth of 1.8% to $1,300.0 million. The company saw a 14.7% increase in net income to $130.0 million and a 14.1% rise in EPS to $0.73. While North America sales decreased by 0.8%, International segment showed robust growth of 12.4%. Gross margin improved to 45.4% compared to 44.9% in Q3 2023. The company generated strong cash flow from operations of $257 million and narrowed its full-year 2024 adjusted EPS guidance to $2.45-$2.55.
Tempur-Pedic has achieved a significant milestone by becoming the most awarded brand in the J.D. Power U.S. Mattress Satisfaction Study history. The brand secured the #1 position in Customer Satisfaction for both In-Store and Online Mattress purchases in 2024, marking its fifth win in six years for in-store purchases and fourth consecutive year for online sales.
The company's success stems from its 30-year legacy of innovation, starting with the creation of TEMPUR-Material™ body-responsive mattresses. Their product line includes Tempur-Breeze® mattresses for hot sleepers and Tempur-Ergo® Smart Bases with Sleeptracker-AI® technology, designed to enhance sleep quality through relaxation programs and snoring reduction features.
Tempur Sealy (NYSE: TPX) has successfully closed a $1.6 billion senior secured Term Loan B facility, set to mature in seven years. The company also amended its 2023 Credit Agreement to extend the availability period of $605 million in Delayed Draw Term A commitments. The Term Loan B proceeds, along with available cash and other debt proceeds, will be used exclusively to fund the previously announced Mattress Firm acquisition. The funds have been placed in escrow and will be released when the acquisition closes.
Tempur Sealy International (NYSE: TPX) has announced that it will release its financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, before the NYSE opening of regular trading. The company will also hold a conference call at 8:00 a.m. Eastern Time on the same day to discuss the results.
Investors and interested parties can access the call via a webcast on the company's investor relations website at investor.tempursealy.com. For those unable to attend the live call, a webcast replay will be available on the website for 30 days following the conference call.
Tempur Sealy International has successfully priced a $1.6 billion senior secured Term Loan B facility. The Term Loan B, set to mature in seven years, is priced at SOFR + 250 bps with an OID of 99.5. The company intends to use the proceeds, along with available cash and other debt, to fund the previously announced acquisition of Mattress Firm Group. The Term Loan B is expected to close and fund into escrow in the next few weeks, with the proceeds to be released concurrently with the closing of the Mattress Firm acquisition.
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