TEMPUR SEALY INTERNATIONAL, INC. - TPX STOCK NEWS

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.

Tempur Sealy International, Inc. (NYSE: TPX) has successfully finalized its acquisition of Dreams, a major bed retailer in the UK. This strategic move is anticipated to nearly double the company's international sales and boost its global annualized sales through its direct channel to over $1 billion, representing approximately 25% of total sales. The acquisition will enhance Tempur Sealy's retail capabilities and facilitate growth in the UK market as they integrate Dreams as an independent unit.

Tempur Sealy International (NYSE: TPX) has declared a significant increase of nearly 30% in its third quarter cash dividend to $0.09 per share, payable on August 26, 2021, to shareholders of record as of August 12, 2021. This decision reflects the company's confidence in its growth outlook following the acquisition of Dreams and expansion in direct-to-consumer and OEM channels. The board aims for a dividend rate aligned with 15% of annual EPS, with future evaluations planned annually.

Tempur Sealy International (NYSE: TPX) reported robust Q2 2021 results, showing a 75.8% increase in net sales to $1,169.1 million, compared to $665.2 million in Q2 2020. Notably, net income surged 512.2% to $140.8 million. The company also announced a 29% increase in quarterly dividends, now at 9 cents per share. With the upcoming acquisition of Dreams, expected to boost annual sales by around $450 million, the firm raised its 2021 sales growth guidance to exceed 35%. Adjusted EPS is projected between $3.10 and $3.25.

Tempur Sealy International, Inc. (NYSE: TPX) is set to release its financial results for the second quarter ending June 30, 2021, prior to the NYSE's regular trading opening on July 29, 2021. The company will conduct a conference call at 8:00 a.m. Eastern Time to discuss these results, which will be webcast and accessible via the company's investor relations website. Tempur Sealy is recognized globally for its bedding products, with a commitment to enhancing sleep quality for consumers in over 100 countries.