Tempur Sealy International on Thursday posted Q2 EPS of $0.45, down from $0.92 a year earlier, but still beating analysts’ estimate of $0.42 in a Capital IQ poll.
Revenues fell to $659.3 million in the quarter from $804.4 million a year ago, just shy of the $661.7 million estimate. “We are pleased with our sales and EBITDA performance, despite the loss of our largest customer,” the company said. “While worldwide industry trends continue to be a bit sluggish, we have outperformed our expectations and are raising the midpoint of our 2017 financial guidance.” The supplier of bedding products now expects full year adjusted EBITDA to range from $425 million to $450 million, against prior guidance of $400 million to $450 million.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.