Stock Track | Tempur Sealy Reports Solid Q3 Results with Revenue and Earnings Beating Estimates

Stock Track11-07

Tempur Sealy International Inc (NYSE: TPX), a leading bedding manufacturer, reported better-than-expected third-quarter financial results for 2024.

For the quarter ended September 30, 2024, the company's revenue grew 1.8% year-over-year to $1.3 billion, surpassing analysts' estimates of $1.288 billion. The strong revenue performance was driven by a 12.4% increase in Tempur Sealy's international segment, offsetting a slight 0.8% decline in its North America business.

Tempur Sealy's adjusted earnings per share (EPS) came in at $0.82, beating consensus forecasts of $0.81 by 1.6%. The company's consolidated gross margin expanded to 45.4%, up from 44.9% a year ago, reflecting its efforts to improve operational efficiencies.

Based on the solid third-quarter performance, Tempur Sealy narrowed its full-year 2024 adjusted EPS guidance range to $2.45-$2.55, representing growth of around 4% at the midpoint compared to the prior year.

Chairman and CEO Scott Thompson highlighted the company's global market outperformance, led by double-digit international growth, as well as the benefits from operational efficiency initiatives and its diverse business platform. Thompson stated, "We continue to see our investments in product, people, and advertising as foundational to our long-term success."

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