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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, Inc. (NYSE: TPX) announced the extension of Scott Thompson's contract as Chairman and CEO through December 31, 2026. Since taking the helm in September 2015, Thompson has propelled earnings per share growth by 50% annually and returned over $2 billion to shareholders through dividends and buybacks. The company’s brands dominate the U.S. bedding market, with Sealy and Tempur-Pedic ranking first and second respectively. The Board emphasized the need for stable leadership amid market changes, while Thompson expressed his commitment to continued growth and market leadership.
Tempur Sealy International, Inc. (NYSE: TPX) has declared a cash dividend of $0.10 per share for the second quarter. This dividend will be payable on May 26, 2022 to shareholders on record as of May 12, 2022. The company emphasizes its commitment to enhancing sleep globally through innovative bedding products sold in over 100 countries.
Tempur Sealy International, Inc. (TPX) reported Q1 2022 net sales of $1.24 billion, a 19% increase year-over-year. International sales surged 92%, primarily due to the Dreams acquisition. EPS rose 11.3% to $0.69, with total net income slightly up to $130.7 million. However, gross margins dipped in both North America and international segments, indicating pressure on profitability. The company expects 10% sales growth for 2022, driven by pricing adjustments and the Dreams acquisition. A quarterly dividend of $0.10 per share was also declared.
Tempur Sealy International (NYSE: TPX) anticipates a 15% increase in first quarter net sales compared to Q1 2021. This marks the 10th time in 11 quarters of double-digit sales growth. However, the company acknowledges challenges from geopolitical events, falling consumer confidence, and new COVID variants impacting sales post-Presidents' Day. To mitigate these challenges, Tempur Sealy has decided to postpone the launch of a new international product line to Q1 2023. The financial results will be released on April 28, 2022.
Tempur Sealy International, ticker TPX, will participate in a fireside chat at the BofA Securities Consumer and Retail Technology Conference on March 9, 2022, at 8:00 a.m. ET. Scott Thompson, the Company's Chairman, President, and CEO, will present. The event will be webcasted and can be accessed via the Company’s investor relations website. Tempur Sealy is a leading bedding product designer, committed to improving sleep worldwide through innovative products and a robust omni-channel retail strategy.
Tempur Sealy International, Inc. (NYSE: TPX) announced a cash dividend of $0.10 per share for the first quarter, payable on March 22, 2022, to shareholders of record as of March 8, 2022. The increase in the dividend reflects the company’s robust free cash flow growth and strong market position, as stated by Chairman and CEO Scott Thompson. The company emphasizes its balanced capital allocation strategy, which includes dividends and share repurchases.
Tempur Sealy International, NYSE: TPX, reported record financial results for Q4 and the full year 2021. Q4 net sales reached $1,359.6 million, up 28.6% from Q4 2020, with the International segment growing by 82.1%. Operating income rose to $250.8 million, a 29.8% increase. Net income grew 21.5% to $175.8 million, and EPS increased 31.3% to $0.88. For 2022, the company expects EPS between $3.65 and $3.85, anticipating sales growth of 15% to 20%. The quarterly dividend was raised by 11% to $0.10 per share, payable on March 22, 2022.
Tempur Sealy International (NYSE: TPX) announced the launch of Sealy Naturals, an eco-friendly mattress collection crafted with 100% natural latex, ethically-sourced wool, and materials like hemp and organic cotton. Set to debut this summer, pricing starts at $3,499 for a Queen mattress. The collection reflects the company's commitment to sustainability, aiming to meet the growing consumer demand for natural products. Sealy is also seeking independent certifications for quality assurance. This new product line complements last year's updates to their mattress portfolio.
Tempur Sealy International, Inc. (NYSE: TPX) released its 2022 Corporate Social Values Report, highlighting notable advancements in ESG initiatives for 2021. Key achievements include an 8.4% reduction in greenhouse gas emissions per unit produced, a 94% waste diversion from landfills, and the installation of solar technology expected to save over 3 million kWh annually. Social contributions include a $2 million donation for a Pediatric Sleep Center and a new sustainable mattress line. Governance improvements feature an increased female board representation and integrating ESG metrics into executive compensation.
Tempur Sealy International, Inc. (NYSE: TPX) will release its fourth quarter and full year financial results on February 22, 2022, before the NYSE opens. A conference call to discuss these results is scheduled for 8:00 a.m. ET on the same day, accessible via the company’s investor relations website. The company offers acclaimed sleep products globally, with brands like Tempur-Pedic and Sealy.
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