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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 declared a $0.10 cash dividend per share for the fourth quarter, payable on December 1, 2022, to shareholders who are on record as of November 17, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Tempur Sealy continues to focus on enhancing sleep quality through its popular brands, including Tempur-Pedic, Sealy, and Stearns & Foster, alongside a commitment to achieving carbon neutrality by 2040.
Tempur Sealy International, Inc. (NYSE: TPX) reported a 5.5% decrease in consolidated sales for Q3 2022, totaling $1,283.3 million. Direct channel sales saw an 8.1% increase. Earnings per share (EPS) dropped 13.8% to $0.75, while adjusted EPS fell 11.4% to $0.78. Gross margin slightly decreased to 42.2%. The company declared a quarterly dividend of $0.10 per share. Financial guidance for FY 2022 adjusted EPS is between $2.50 and $2.60, reflecting expectations of flat sales compared to the previous year.
Tempur Sealy International (NYSE: TPX) has launched the Sealy FlexGrid™ mattress collection featuring HexGel™ technology, a new hyper-elastic polymer designed to provide pressure relief and a unique floating feel. This collection targets consumers seeking innovative comfort at affordable prices. The mattresses aim to enhance airflow for a cooler sleeping experience. Available online, Queen sizes are priced at $1,579 for the standard model and $2,149 for the hybrid. This addition reinforces Tempur Sealy's commitment to innovation and consumer satisfaction in the mattress market.
Tempur Sealy International, Inc. (NYSE: TPX) has announced the launch of an all-new generation of Stearns & Foster® mattresses. Set to debut in November 2022, these products boast upgraded luxury features and innovative comfort technology, including the IntelliCoil™ innersprings and new IntelliFlex™ hybrid system, which enhances airflow and conforms to individual sleeper shapes. With prices ranging from $1,799 to $6,499, the collections aim to satisfy high-end mattress shoppers. The new offerings reflect consumer research identifying a demand for premium innerspring bedding.
Tempur Sealy International, Inc. (NYSE: TPX) is set to announce its third-quarter financial results for the period ending September 30, 2022, before the NYSE opens on November 3, 2022. A conference call will follow at 8:00 a.m. ET, which will also be available via webcast on the company's investor relations website. Tempur Sealy is known for its innovative bedding products and aims to enhance sleep quality globally. The company has established a goal to achieve carbon neutrality in its operations by 2040.
Tempur Sealy International, a leader in bedding products, will participate in a fireside chat at the Piper Sandler Growth Frontiers Conference on September 14, 2022, at 10:00 a.m. ET. CEO Scott Thompson will present and the event will be webcast on their investor relations website. Tempur Sealy aims to enhance sleep for consumers worldwide and is committed to achieving carbon neutrality in operations by 2040.
Bryte, Inc. has secured a $20 million strategic investment led by Tempur Sealy International, Inc. (NYSE: TPX). The partnership aims to innovate and develop future products, services, and technology in the restorative sleep sector. Bryte, known for its advanced Restorative Bed™, combines technology and sleep science to enhance sleeper experience. With this investment, Bryte plans to extend its capabilities by integrating its technology into select mattress brands to improve accessibility for consumers.
Tempur Sealy International has declared a third quarter cash dividend of $0.10 per share on its common stock. The dividend will be payable on August 25, 2022, to shareholders of record as of August 11, 2022. Tempur Sealy remains committed to enhancing sleep quality worldwide through its renowned brands such as Tempur-Pedic®, Sealy®, and Stearns & Foster®. The company aims for carbon neutrality by 2040 across its global operations, reflecting its commitment to environmental responsibility.
Tempur Sealy International, Inc. (NYSE: TPX) reported a 3.6% increase in consolidated net sales to $1,211.0 million for Q2 2022, despite a 4.6% decline in its North America segment. The International segment saw a significant 68.2% growth due to the acquisition of Dreams. However, net income fell 35.7% to $90.6 million with EPS of $0.51, down 26.1% from last year. The company revised its 2022 adjusted EPS guidance to $2.60 to $2.80 and repurchased over 4 million shares while maintaining a leverage ratio of 2.67.
Tempur Sealy International, Inc. (NYSE: TPX) is set to announce its second quarter financial results for the period ending June 30, 2022, before the NYSE opens on July 27, 2022. The company will host a conference call at 8:00 a.m. Eastern Time to discuss these results, which will also be available for replay on their investor relations website for 30 days. With a strong commitment to enhancing sleep quality globally, Tempur Sealy operates leading brands like Tempur-Pedic and Sealy, distributing products across various channels.
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