TEMPUR SEALY INTERNATIONAL, INC. - TPX STOCK NEWS

Tempur Sealy International, Inc. (NYSE: TPX) has declared a fourth quarter cash dividend of $0.09 per share. This dividend is set to be paid on November 23, 2021, to shareholders on record as of November 11, 2021. Tempur Sealy, a leader in bedding products, emphasizes its commitment to enhancing global sleep quality through innovative solutions and an extensive range of brands, including Tempur-Pedic and Sealy. The company continues to expand its market presence with a robust omni-channel strategy.

Tempur Sealy International has announced a significant increase in its share repurchase program, raising the authorization to a total of $600 million. Over the past twelve months, the company has repurchased around 20 million shares for approximately $700 million. This strategy is intended to enhance shareholder value, with share repurchases occurring through various methods as determined by management. The program's execution will vary based on market conditions and regulatory requirements, with flexibility for modifications or suspensions.

Tempur Sealy International reported third-quarter 2021 net sales of $1.36 billion, a 20% increase from the previous year. North America net sales rose 12.6%, while international sales surged 73.2% following the acquisition of Dreams. However, gross margins declined significantly, with North America at 39.9% and international at 54.6%. Net income increased 46.1% to $177.4 million, and EPS rose 52.6% to $0.87. The company anticipates 2021 net sales growth exceeding 35% with adjusted EPS projected between $3.20 and $3.30.

Tempur Sealy International (NYSE: TPX) will disclose its third-quarter financial results for the period ending September 30, 2021, before the NYSE opens on October 28, 2021. A conference call to discuss these results is scheduled for 8:00 a.m. Eastern Time, which will be accessible via the company's investor relations website. As a leading global provider of bedding products, Tempur Sealy focuses on delivering innovative sleep solutions across over 100 countries, with renowned brands like Tempur-Pedic and Sealy.

Tempur Sealy International (NYSE: TPX) has successfully completed an $800 million offering of 3.875% senior notes due 2031. The notes, which are senior unsecured obligations, will pay interest semi-annually starting April 15, 2022. Proceeds will be used to repay existing debt and for general corporate purposes. CEO Scott Thompson expressed satisfaction with the deal, highlighting its role in aligning leverage with the company’s target range of 2 to 3 times. The deal was significantly oversubscribed, reflecting strong investor confidence.

Tempur Sealy International has announced the pricing of its $800 million offering of 3.875% senior notes due 2031. The offering is aimed at qualified institutional buyers and is expected to close on September 24, 2021. Proceeds from the offering will be used to fully repay the outstanding balances under its Revolving Credit Facility and Accounts Receivable Securitization Facility, with the remainder allocated for general corporate purposes. The notes will be senior unsecured obligations of the Company, backed by the same entities guaranteeing its existing credit facilities.

Tempur Sealy International, Inc. (NYSE: TPX) announced plans to offer $800 million in senior notes due 2031, aimed at qualifying institutional buyers. The notes will be senior unsecured obligations, guaranteed by the same entities as the existing credit facility. The proceeds will primarily be used to repay outstanding balances under its Revolving Credit Facility and Accounts Receivable Securitization Facility, with the remainder allocated for general corporate purposes. This offering does not constitute a sale or solicitation of securities under the Securities Act.

On August 19, 2021, Mattress Firm announced a multi-year extension of its supply agreement with Tempur Sealy International, Inc. (NYSE: TPX) through 2025. This extension solidifies their ongoing partnership, previously initiated in 2019, aimed at enhancing consumer access to a diverse range of mattresses across Mattress Firm's extensive retail network of over 2,300 locations and online. Mattress Firm was recognized as the No. 1 Tempur-Pedic retailer in the U.S. for 2020, indicating strong sales performance. Both companies expressed optimism about future collaboration and innovation in products.

Tempur Sealy International, Inc. (NYSE: TPX) has signed a multi-year extension to its supply agreement with Mattress Firm, the largest specialty mattress retailer in the U.S. This extension maintains the same terms as the current agreement, allowing Tempur Sealy to continue supplying its Sealy and Tempur brands. The partnership has significantly contributed to sales growth for both companies since its inception in 2019. CEO Scott Thompson expressed optimism about the growth potential this agreement brings, reinforcing a stronger domestic bedding industry.