tempur sealy international i (TPX) Key Developments
Tempur Sealy International Inc. Provides Earnings Guidance for the Full Year 2015
Feb 18 15
Tempur Sealy International Inc. provided earnings guidance for the full year 2015. For the period, the company reported sales growth at the midpoint of guidance would be 7%. Adjusted operating margin growth would be approximately 115 basis points and EPS growth, 20%.
Tempur Sealy International Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
Feb 5 15
Tempur Sealy International Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $745.5 million compared to $678.1 million a year ago. Operating income was $76.5 million compared to $74.1 million a year ago. Income before income taxes was $68.4 million compared to $50.5 million a year ago. Net income attributable to the company was $46.6 million or $0.75 per diluted share compared to $27.5 million or $0.44 per diluted share a year ago. Adjusted net income was $53.2 million or $0.86 per diluted share compared to $41.1 million or $0.66 per diluted share a year ago. Adjusted EBITDA was $116.0 million compared to $104.2 million a year ago. Operating cash flow during the quarter was $44 million. EBITDA was $112.0 million compared to $97.4 million a year ago.
For the full year, the company reported net sales of $2,989.8 million compared to $2,464.3 million a year ago. Operating income was $276.3 million compared to $243.8 million a year ago. Income before income taxes was $174.9 million compared to $128.0 million a year ago. Net income attributable to the company was $108.9 million or $1.75 per diluted share compared to $78.6 million or $1.28 per diluted share a year ago. Net cash provided by operating activities was $225.2 million compared to $98.5 million a year ago. Purchases of property, plant and equipment were $47.5 million compared to $40.0 million a year ago. Adjusted net income was $164.6 million or $2.65 per diluted share compared to $146.4 million or $2.38 per diluted share a year ago. Adjusted EBITDA was $404.6 million. The 2013 results reflect integration costs, transaction costs and financing costs related to the company's refinancing a portion of its senior secured credit facility. Operating income for the full year 2014 and 2013 included $43.8 million of integration and financing costs and $44.6 million of integration and transaction costs related to the Sealy acquisition, respectively. The company reduced total debt by $234 million in 2014. EBITDA was $355.4 million.
The company provided earnings guidance for the full year 2015. The company currently expects net sales to range from $3.050 billion to $3.150 billion, adjusted EPS to range from $2.70 to $3.10 per diluted share. The company expects depreciation and amortization of approximately $95 million; adjusted EBITDA of $420 million to $455 million; interest expense of approximately $86 million; annual tax rate of approximately 30%; noncontrolling interest of approximately $2 million; average share count of 62.5 million shares; and capital expenditures of approximately $65 million.
Tempur Sealy International Seeks Acquisitions
Feb 5 15
Tempur Sealy International Inc. (NYSE:TPX) is looking for acquisitions. Mark Sarvary, President and Chief Executive Officer, of Tempur Sealy International states, “It is a strategic objective wherever we are to be able to use the combination of the organic drivers of growth, and where appropriate and possible strategic acquisitions to move ourselves to be number one wherever we can be.”
Tempur-Pedic Announces Introduction of TEMPUR-Flex Collection
Jan 18 15
Tempur-Pedic announced the introduction of the TEMPUR-Flex Collection. The TEMPUR-Flex Collection delivers all the famous benefits of TEMPUR material 'adaptive support, pressure relief and motion dispersal' in a whole new feel that research shows strongly appeals to consumers seeking better sleep, but also the familiar 'slightly springy' feel they know from the beds they've always slept on. TEMPUR-Flex brings this new group of consumers to the Tempur-Pedic brand by combining a faster-responding version of proprietary TEMPUR material with a new Dynamic Support Layer, made with innovative precision coils for support. The new line uses specifically engineered hybrid construction delivering a feel and benefits that only Tempur-Pedic can bring to the market. The new TEMPUR-Flex Collection features technology that pairs two proprietary components to offer a unique feel. The new TEMPUR-Response material and Dynamic Support Layer balance conforming TEMPUR comfort with adaptive support that responds three times as fast as current Tempur-Pedic mattresses. TEMPUR-Response is a new version of proprietary TEMPUR material specially engineered for faster response and greater ease of movement. Like all TEMPUR material, it offers truly personalised comfort and support, while minimizing pressure points and reducing motion transfer. The Dynamic Support Layer is a brand new base layer made of precision coils that are densely placed to fit more into the same space. With twice as many coils, the Dynamic Support Layer provides more complementary, fast-responding support for the TEMPUR material on top. The TEMPUR-Flex Collection includes three mattress models: Prima, Supreme and Elite. The Prima offers exclusive SmartClimate System for cool-to-the-touch comfort. The Supreme adds more TEMPUR material and the EasyRefresh Cover that zips on and off to wash and replace. The Elite includes the most TEMPUR material for even greater TEMPUR benefits, while maintaining its quick-response ability and the EasyRefresh Cover. The removable top cover ensures that the mattress is always fresh and hygienic. A patent-pending, 360-degree zipper makes the process simple, and the covers fit into any standard-size washer and dryer. Designed for loft and durability, the soft fabric is engineered to last through years of use and washing. The two-part SmartClimate System helps keep the mattress comfortable due to an outside layer of moisture-wicking fabric that draws moisture away from the body and an inner cover that has cool-to-the-touch comfort.
Tempur Sealy International Inc. to Report Q4, 2014 Results on Feb 05, 2015
Jan 14 15
Tempur Sealy International Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 05, 2015