Published on 8 Feb 2024 on GuruFocus.com via Yahoo Finance
Tempur Sealy International Inc (TPX) Reports Mixed Fourth Quarter and Full Year 2023 Results
Net Sales: Q4 net sales remained consistent at $1.2 billion, with a slight decrease of 1.4% year-over-year.Net Income: Q4 net income decreased by 24.2% to $77.1 million, and full-year net income also declined by 19.2% to $368.1 million.EPS: Q4 earnings per share (EPS) dropped by 24.6% to $0.43, with adjusted EPS at $0.53.Gross Margin: Gross margin expanded by 260 basis points to 43.8% in Q4.Dividend Increase: Quarterly cash dividend increased by 18% to $0.13 per share.Debt and Leverage: Total debt stood at $2.6 billion with a leverage ratio of 2.87 times adjusted EBITDA.2024 Guidance: Adjusted EPS guidance set between $2.60 to $2.90, anticipating low to mid-single digit sales growth.
Warning! GuruFocus has detected 5 Warning Sign with TPX.
On February 8, 2024, Tempur Sealy International Inc (NYSE:TPX) released its 8-K filing, detailing its financial performance for the fourth quarter and full year of 2023. The company, a global leader in the bedding industry, is known for its portfolio of brands such as Tempur, Tempur-Pedic, Sealy, and Stearns & Foster, and operates through a robust omni-channel distribution platform.