Tempur Sealy (NYSE: TPX) reported Q1 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $721 million versus the consensus estimate of $773.22 million.

Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "We are very pleased with our results as we grew adjusted EBITDA 15% and adjusted EPS 24% while increasing direct advertising and marketing investments, and launching new industry leading products worldwide. Overall, plant operations improved and adjusted operating margin expanded 200 basis points. The Team is focused on continuing to improve operations, and we are all striving to achieve our targets."

Tempur Sealy reaffirmed FY2016 guidance. For the full year 2016, the Company currently expects Adjusted EBITDA to range from $500 million to $550 million. The Company noted its expectations are based on information available at the time of this release, and are subject to changing conditions, many of which are outside the Company's control.

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