Tempur-Pedic (TPX) Slashes FY12 EPS, Sales Outlook
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Price: $44.72 --0%
EPS Growth %: -27.9%
Financial Fact:
Cost of sales: 201.7M
Today's EPS Names:
IHS, MEI, PIR, More
EPS Growth %: -27.9%
Financial Fact:
Cost of sales: 201.7M
Today's EPS Names:
IHS, MEI, PIR, More
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Tempur-Pedic International Inc. (NYSE: TPX), the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, today commented on second quarter performance and updated its financial guidance for 2012.
The Company noted that second quarter sales to date in North America have been below the Company's plan. Although the Company does not ordinarily provide quarterly guidance, the Company is providing an outlook for the second quarter. The Company currently expects net sales for the second quarter ending June 30, 2012 to be 3-5% below last year's second quarter net sales, driven by the expectation that the Company's North American sales will decline approximately 8% year-over-year. With lower than planned sales and associated deleverage, the Company currently expects second quarter 2012 diluted earnings per share to decrease approximately 50% from the second quarter of 2011.
Based on the second quarter outlook and an updated full year review, the Company currently expects full year net sales to be approximately $1.43 billion. In addition, the Company is updating its full year earnings guidance and currently expects diluted earnings per share to be approximately $2.70.
The company previously saw sales of $1.60 - $1.65 billion and EPS of $3.80 - $3.95. The Street sees revs of $1.65 and EPS of $3.93.
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The Company noted that second quarter sales to date in North America have been below the Company's plan. Although the Company does not ordinarily provide quarterly guidance, the Company is providing an outlook for the second quarter. The Company currently expects net sales for the second quarter ending June 30, 2012 to be 3-5% below last year's second quarter net sales, driven by the expectation that the Company's North American sales will decline approximately 8% year-over-year. With lower than planned sales and associated deleverage, the Company currently expects second quarter 2012 diluted earnings per share to decrease approximately 50% from the second quarter of 2011.
Based on the second quarter outlook and an updated full year review, the Company currently expects full year net sales to be approximately $1.43 billion. In addition, the Company is updating its full year earnings guidance and currently expects diluted earnings per share to be approximately $2.70.
The company previously saw sales of $1.60 - $1.65 billion and EPS of $3.80 - $3.95. The Street sees revs of $1.65 and EPS of $3.93.
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