Tempur Sealy (TPX) falls 11.82% AH as earnings and revenue miss estimates. The integration of...

|About: Tempur Sealy International ... (TPX)|By:, SA News Editor

Tempur Sealy (TPX) falls 11.82% AH as earnings and revenue miss estimates. The integration of Sealy causes gross margin to fall to 38.6% from 50.7%. CEO Mark Sarvary says the steps the company is taking "to return Tempur North America to growth  … are taking longer than expected." Management trims its FY13 outlook, saying it now sees EPS of $2.25-2.40 on sales of $2.425-2.45B versus consensus of $2.75/ share on revenue of $2.5B. (PR)