TEMPUR SEALY INTERNATIONAL, INC. - TPX STOCK NEWS

Tempur Sealy International (NYSE: TPX) released its 2021 Corporate Social Values Report, highlighting progress in ESG initiatives. Key achievements include a goal for carbon neutrality by 2040, a 28% decrease in greenhouse gas emissions per unit produced, and a rise in waste recycling to 91%. Employee engagement is also emphasized with a 4% wage increase for U.S. salaried employees and a 21% global headcount increase. The company believes these initiatives enhance long-term shareholder value and commitment to community and environmental responsibilities.

Tempur Sealy International (TPX) reports strong fourth quarter demand, anticipating adjusted EBITDA growth of about 30% and low double-digit net sales growth. U.S. e-commerce and international sales exceeded expectations, contributing to improved profitability. The company plans to allocate $280 million for share repurchases in 2020 and invest $150 million to enhance production capacity, including a new foam facility. Although supply constraints in U.S. production remain an issue, Tempur Sealy remains optimistic about demand and its ability to meet market needs.

Tempur Sealy International (NYSE: TPX) announced that its Tempur-Pedic brand achieved the top rank in Customer Satisfaction for the retail mattress category in the J.D. Power 2020 Mattress Satisfaction Report. This recognition marks the second consecutive year Tempur-Pedic has received this accolade. The brand excelled in key areas such as support, durability, comfort, and customer service. CEO Scott Thompson emphasized the company's commitment to enhancing sleep quality for consumers worldwide, while Tempur-Pedic continues to innovate in mattress technology.

Tempur Sealy International (NYSE: TPX) announced a new long-term capital allocation strategy, including a quarterly cash dividend starting in early 2021, targeting 15% of net income. The company has also increased its share repurchase program by $170 million to $300 million, aiming to buy back at least 3% of shares annually. Additionally, a four-for-one stock split will occur, making shares more accessible. The third quarter 2020 results indicated broad sales growth and a record Adjusted EBITDA. This strategy is intended to boost shareholder value and support ongoing investments.

Tempur Sealy International (NYSE: TPX) reported strong third-quarter results for 2020, with total net sales rising 37.9% to $1,132.3 million, driven by increased demand in North America and a notable 10.1% rise internationally. Gross margin improved to 46.8%, while net income surged 65.6% to $121.4 million. Adjusted EBITDA soared 85.7% to $279.9 million, reflecting solid operational performance. However, supply chain issues negatively impacted Sealy's sales growth. The company plans to initiate a quarterly cash dividend in early 2021 and has approved a four-for-one stock split.

Tempur Sealy International, Inc. (NYSE: TPX) will announce its third-quarter financial results on October 29, 2020, prior to the NYSE opening. A conference call will follow at 8:00 a.m. ET, accessible via dial-in and webcast. The company, based in Lexington, KY, is the largest bedding manufacturer globally, offering well-known brands such as Tempur and Sealy. For further information post-call, a webcast replay will be available on their investor relations page for 30 days.

Tempur Sealy International (NYSE: TPX) has announced a strategic move to reacquire rights and assets for Sealy and Stearns & Foster brands in the UK. This includes forming a 50/50 joint venture, Sealy United Kingdom Limited, designed to enhance market presence in a $1 billion sector growing at 3-4% annually. The UK market share for Sealy was in low single digits as of 2019. CEO Scott Thompson emphasized the opportunity to serve the premium innerspring segment effectively, building on the success of their Asian joint venture, which saw a 36% annual sales growth.

Tempur Sealy International, Inc. (NYSE: TPX) announced plans to introduce Surface-Guard Technology™, an antimicrobial and antiviral innovation, to select Sealy products in early 2021. This EPA-registered technology kills 99% of bacteria and has shown at least 99% effectiveness against viruses, including human coronavirus, on textiles within five minutes. The initiative will extend to Tempur-Pedic and Stearns & Foster lines later in the year, enhancing mattress protection. CEO Scott Thompson emphasized the commitment to innovation and consumer safety in sleep products.