Tempur Pedic International Earnings: Here’s Why Investors are Happy Now
Tempur Pedic International Inc. (NYSE:TPX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.51%.
Tempur Pedic International Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 27.91% to $0.62 in the quarter versus EPS of $0.86 in the year-earlier quarter.
Revenue: Rose 1.49% to $390.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tempur Pedic International Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company beat the mean analyst estimate of $0.61. It beat the average revenue estimate of $347.27 million.
Quoting Management: Tempur-Pedic International CEO Mark Sarvary commented, “We are pleased to have completed the acquisition of Sealy in March. The integration is progressing smoothly and as planned. We remain confident in realizing cost synergies in excess of $40 million by the third full year and continue to be very excited about the significant opportunity for revenue synergies. Our performance during the first quarter was in line with our projections and we expect positive net sales growth for the balance of the year.”
Key Stats (on next page)…