- Tempur Sealy International (TPX) shares soar 13.4% AH after the company beat expectations in Q3. Short covering may have something to do with the outsized reaction, with short interest at 18.9% of the float as of Oct. 15.
- An 111.4% increase in net sales to $735.5M was fueled in large part to acquired Sealy's contribution of $389.9M.
- Tempur North America sales grew 0.6% to $242.4M in Q3, driven by a 4.8% increase in Other products revenue to $20.8M. Tempur International sales fell 3.6% to $103.2M.
- Gross margin fell to 40.6% from 49.2% in Q3 2012 due to the lower margins on Sealy mattresses.
- EBITDA of $115.5M was up 66.7% Y/Y.
- The company reaffirms 2013 guidance: revenue of $2.425B-$2.45B (vs. consensus of $2.44B), EBITDA of $370M-$385M, and EPS of $2.25-$2.40 ($2.32).
- PR, Conference call (webcast)
From other sites
at CNBC.com (Apr 10, 2015)
at CNBC.com (Oct 31, 2014)
at CNBC.com (Oct 30, 2014)
at CNBC.com (May 2, 2014)
at CNBC.com (Feb 18, 2014)
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