Tempur Sealy (TPX) Tops Q3 EPS by 75c, Revenues Beat
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Tempur Sealy Announces New Long-Term Capital Allocation Strategy
October 29, 2020 6:38 AM EDTLEXINGTON, Ky., Oct. 29, 2020 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Company") today announced its long-term capital allocation strategy, consisting of a quarterly cash dividend, share repurchases, and a four-for-one stock split. In a separate press release issued today, the Company reported its third quarter 2020 results, which included broad-based sales growth, record Adjusted EBITDA, and the lowest debt to Adjusted EBITDA leverage ratio in the Company's history.
The strong financial results reflect the investments the Company has made in its products, brands, customer service, and manufacturing operations over the last five years. These investments and the... More
Tempur Sealy Reports Record Third Quarter Results
October 29, 2020 6:37 AM EDTLEXINGTON, Ky., Oct. 29, 2020 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX) announced financial results for the third quarter ended September 30, 2020.
THIRDÂ QUARTER 2020 FINANCIAL SUMMARY
Total net sales increased 37.9% to $1,132.3 million as compared to $821.0 million in the third quarter of 2019. On a constant currency basis(1), total net sales increased 37.7%, with an increase of 43.3% in the North America business segment and an increase of 10.1% in the International business segment. Gross margin was 46.8% as compared to 43.9% in the third quarter of 2019. Adjusted gross margin(1)... More