Tempur Sealy (NYSE: TPX) reported Q1 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $690.9 million versus the consensus estimate of $666.2 million.

Financial Guidance

The Company revised its financial guidance for 2019. For the full year 2019, the Company currently expects adjusted EBITDA(2) to range from $435 million to $475 million, raising the low end of the range by $10 million, which includes losses of $5 million to $8 million related to the April 1, 2019 acquisition by Sleep Outfitters USA, LLC ("Sleep Outfitters"), an affiliate of the Company. The Company expects Sleep Outfitters will break even after its first year of operations following its post-acquisition restructuring.

The Company also noted that 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.

Adjusted EBITDA as used in connection with the Company's 2019 outlook is a non-GAAP financial measure that excludes or has otherwise been adjusted for items impacting comparability. The Company is unable to reconcile this forward-looking non-GAAP financial measures to GAAP net income, its most directly comparable forward-looking GAAP financial measure, without unreasonable efforts, because the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP net income in 2019 but would not impact adjusted EBITDA. Such items may include restructuring activities, foreign currency exchange rates, income taxes and other items. The unavailable information could have a significant impact on the Company's full year 2019 GAAP financial results.

For earnings history and earnings-related data on Tempur Sealy (TPX) click here.