Tempur Sealy International Inc.NYSE
Tempur Sealy: Money Under The Mattress
Mon, Jul. 18, 10:57 AM
- Tempur Sealy International (TPX +0.1%) announced the conversion or repayment of all remaining 8% Senior Secured Third Lien Convertible Notes Due 2016 issued by Sealy Corporation and Sealy Mattress Company which matured on July 15, 2016.
- The Company paid approx. $115M in cash to holders of the Sealy Notes who properly converted their Sealy Notes in advance of the maturity date. The Company also repaid in cash on the maturity date principal amount of the Sealy Notes of less than $100,000, together with unpaid interest thereon.
- The Company also borrowed $100M using the delayed draw term loan facility to make conversion payments.
- Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "As part of our overall 2016 capital structure plan, our 8% notes maturity was funded from our new senior credit facilities, resulting in approximately $6M in annual interest savings based on today's interest rates."
- Press Release
Thu, Jun. 9, 8:22 AM
- Tempur Sealy (NYSE:TPX) announces it will increase its buyback allowance by $200M.
- The company now has total repurchase firepower of $205M.
- "This new authorization is consistent with our previously disclosed long-term strategy to manage our capital structure and, when appropriate, return excess cash to our shareholders," notes CEO Scott Thompson.
- TPX +0.41% premarket to $63.02.
Tue, May 31, 9:11 AM
- Consumer spending on durable goods rose 2.3% in April, while spending on nondurable goods increased 1.4%. Both marks exceeded the expectations of economists. Overall consumer spending rose at the fastest rate in seven years.with a 1.0% M/M increase.
- While a higher level of spending on automobiles was anticipated, a category to keep an eye on is home furnishings and home repair with more data out suggesting that millennials are freeing up dollars for their houses.
- Related stocks: BSET, CRWS, ETH, HOFT, LZB, LCUT, NWL, SCSS, STLY, TPX, TUP, BGG, SWK, HD, LOW.
- Previously: Retailers with a fix on the modern U.S. consumer (May 28)
- Previously: Personal income rises in-line with forecast (May 31)
Thu, Apr. 28, 9:16 AM| Thu, Apr. 28, 9:16 AM
Thu, Apr. 28, 7:10 AM
- Tempur Sealy (NYSE:TPX): Q1 EPS of $0.68 beats by $0.06.
- Revenue of $721M (-2.5% Y/Y) misses by $51.95M.
Wed, Apr. 27, 5:30 PM
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Thu, Mar. 17, 9:20 AM
Thu, Mar. 10, 5:39 PM
- Tempur Sealy (NYSE:TPX) and COO Tim Yaggi have agreed Yaggi will be leaving the company at month's end. No replacement has been named. (8-K filing)
- Yaggi has been the bed maker's COO since 2013. He'll be paid a $1M retention bonus, and will provide "consulting services" for a year at a price of $62,500/month.
Thu, Feb. 4, 7:33 AM
- Tempur Sealy (NYSE:TPX): Q4 EPS of $0.99 in-line.
- Revenue of $767.3M (+2.9% Y/Y) misses by $18.15M.
- Shares +0.18% PM.
Wed, Feb. 3, 5:30 PM
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Tue, Feb. 2, 7:46 AM
- Tempur Sealy (NYSE:TPX) says it will reduce the size of its board to seven members following the retirement of three current members.
- The company's annual meeting is scheduled for May 5.
Tue, Jan. 19, 10:21 AM
- Tempur Sealy (TPX -5%) trades lower after Off Wall Street initiates shares with a Sell rating.
- The negative take on Tempur Sealy arrives even with activist firm H Partners on the scene with two board seats.
- Many of the concerns on Tempur Sealy focus on margin pressure in the bedding sector due to pricing trends.
Nov. 9, 2015, 9:31 AM
- Shares of Tempur Sealy (NYSE:TPX) are on watch as the company makes an investor presentation.
- Management increases FY15 EPS guidance to a range of $3.10 to $3.20 vs. $3.00-$3.20 prior and $3.18 consensus. Bedding market share is seen growing internationally and as stable in North America. A debt leverage of 3X is under review.
- Presentation webcast
- Presentation slides (.pdf)
Oct. 29, 2015, 8:11 AM
- Tempur Sealy (NYSE:TPX): Q3 EPS of $1.11 beats by $0.03.
- Revenue of $880M (+6.4% Y/Y) beats by $6.09M.
Oct. 28, 2015, 5:30 PM
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Sep. 21, 2015, 9:53 AM
- Tempur Sealy (NYSE:TPX) proposes a new $350M senior note offering.
- The company aims to repay a term loan with the proceeds from the issue.