Mattress company Tempur Sealy’s stock takes a hit as U.S. bedding market struggles
- Tempur Sealy’s stock slides 5% after weak earnings and lowered guidance
- Net income for the quarter was $113.3 million, down from $132.7 million in the previous year
- Adjusted per-share earnings came to 77 cents, below expectations
- Sales fell 0.5% to $1.277 billion, missing the consensus estimate
- CEO cites a challenged U.S. bedding market as a factor
- Full-year adjusted EPS guidance lowered to $2.30 to $2.50
Tempur Sealy International Inc.’s stock tumbled 7.4% after the company reported third-quarter earnings that fell short of expectations and lowered its guidance. The company’s net income for the quarter was $113.3 million, down from $132.7 million in the previous year. Adjusted per-share earnings came to 77 cents, below the consensus estimate of 81 cents. Sales also fell 0.5% to $1.277 billion, missing the consensus estimate of $1.309 billion. CEO Scott Thompson attributed the weaker performance to a challenged U.S. bedding market. As a result, the company has lowered its full-year adjusted EPS guidance to $2.30 to $2.50.
Factuality Level: 8
Factuality Justification: The article provides specific financial information about Tempur Sealy International Inc.’s third-quarter earnings and guidance, including net income, adjusted per-share earnings, and sales figures. The information is sourced from the company’s official statement and FactSet consensus. There is no irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The article is focused on the main topic and does not contain digressions or unnecessary background information. There is no misleading information, disinformation, or propaganda. The reporting is accurate and objective, without exaggerated or overly dramatic reporting. The information is not repetitive. There is no bias or personal perspective presented as universally accepted truth. The article does not contain invalid arguments, logical errors, inconsistencies, fallacies, faulty reasoning, false assumptions, or incorrect conclusions. Overall, the article provides factual information about Tempur Sealy International Inc.’s financial performance and guidance.
Noise Level: 3
Noise Justification: The article provides relevant information about Tempur Sealy International Inc.’s stock performance and earnings. It includes specific details about the company’s net income, adjusted per-share earnings, and sales figures. The article also mentions the CEO’s statement and the company’s revised guidance. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on reporting the facts without providing a broader context or exploring the consequences of the company’s performance on stakeholders.
Financial Relevance: Yes
Financial Markets Impacted: Tempur Sealy International Inc.’s stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Tempur Sealy International Inc., a mattress company. The company’s stock tumbled after its third-quarter earnings fell short of expectations and it lowered its guidance due to a weak U.S. bedding market. This news may impact the financial markets and investors interested in the company’s stock.
Public Companies: Tempur Sealy International Inc. (TPX)
Key People: Scott Thompson (Chief Executive)
Reported publicly:
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