Tempur Sealy Int Stock Price, News & Analysis

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.

Tempur Sealy International, Inc. (NYSE: TPX) announced the appointment of Meredith Siegfried Madden as an independent director and Simon Dyer as a non-independent director, effective January 1, 2022. This decision expands the Board from 7 to 9 members, filling newly created vacancies. Madden, currently CEO of The NORDAM Group, brings extensive leadership experience, while Dyer, CEO of Dyer Holdings Pty Ltd, has over 35 years in the bedding industry, particularly in Asia. Management believes their expertise will support the company’s long-term growth.

Tempur Sealy International, Inc. (NYSE: TPX) has announced an increase in its share repurchase program to $1.5 billion. Over the past year, the company has repurchased approximately 20 million shares at a cost of $700 million. The Chairman and CEO, Scott Thompson, stated that this buyback represents about 15% of the current market capitalization, with plans to maintain a leverage ratio below the long-term target of 2 to 3 times adjusted EBITDA. The timing of share repurchases will depend on market conditions and regulatory requirements.

Tempur Sealy International (NYSE: TPX) announced that its Tempur-Pedic brand has achieved the #1 rank in Customer Satisfaction for both Retail and Online Mattress categories in the J.D. Power 2021 Mattress Satisfaction Report. This marks the third consecutive year for the Retail category and the first for Online. Tempur-Pedic excelled across all factors for Retail, including support, durability, and customer service, while also topping durability and warranty for Online. Chairman and CEO Scott Thompson emphasized the brand's dedication to innovation and quality in sleep solutions.

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.