tempur sealy international i (TPX) Key Developments
Tempur Sealy International Inc. Presents at Bank of America Merrill Lynch 2014 Consumer & Retail Conference, Mar-12-2014 08:00 AM
Mar 6 14
Tempur Sealy International Inc. Presents at Bank of America Merrill Lynch 2014 Consumer & Retail Conference, Mar-12-2014 08:00 AM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York, New York, United States. Speakers: Barry Hytinen, Senior Vice President of Global Business Development, Mark Rupe, Vice President of Investor Relations.
Tempur Sealy International Inc. Presents at Raymond James 35th Annual Institutional Investors Conference, Mar-04-2014 02:50 PM
Feb 27 14
Tempur Sealy International Inc. Presents at Raymond James 35th Annual Institutional Investors Conference, Mar-04-2014 02:50 PM. Venue: JW Marriott Grande Lakes, 4040 Central Florida Parkway, Orlando, Florida, United States. Speakers: Dale E. Williams, Chief Financial Officer and Executive Vice President.
Tempur Sealy International Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014
Feb 6 14
Tempur Sealy International Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net sales of $678.1 million against $341.1 million a year ago. Operating income was $74.1 million against $51.3 million a year ago. Income before income taxes was $50.5 million against $44.8 million a year ago. Net income attributable to the company was $22.9 million or $0.37 per diluted share against $23.5 million or $0.39 per diluted share a year ago. Adjusted net income was $41.1 million or 0.66 per diluted share against $36.4 million or 0.60 per diluted share a year ago. EBITDA was $92.8 million. Adjusted EBITDA was $104.2 million. The net sales increase was due to the inclusion of $333.5 million of Sealy net sales for the fourth quarter of 2013. Capital expenditures were $11.6 million. Operating cash flow was slightly negative due to a $40 million cash tax repatriation payment.
For the year, the company reported net sales of $2,464.3 million against $1,402.9 million a year ago. Operating income was $243.8 million against $248.3 million a year ago. Income before income taxes was $128.0 million against $229.2 million a year ago. Net income attributable to the company was $74.0 million or $1.20 per diluted share against $106.8 million or $1.70 per diluted share a year ago. Net cash provided by operating activities was $98.5 million against $189.9 million a year ago. Purchases of property, plant and equipment were $40.0 million against $50.5 million a year ago. EBITDA was $341.8 million. Adjusted EBITDA was $411.1 million. The net sales increase was due to the inclusion of $1,114.7 million of Sealy net sales for the period of March 18, 2013 to December 31, 2013.
The company provided its full year 2014 earnings guidance. The company expects net sales to range from $2.800 billion to $2.900 billion, adjusted EBITDA to range from $415 million to $435 million and adjusted EPS to range from $2.60 to $2.85 per diluted share, including depreciation and amortization of approximately $0.19 per share associated with the Sealy purchase price allocation. The company expects its margins to improve in 2014 resulting from cost synergies and leverage, offset partially by investments in new products, marketing and R&D. The company expects depreciation and amortization of approximately $93 million, which includes the PPA depreciation and amortization of $17 million; interest expense of approximately $89 million; the annual tax rate of approximately 31% and capital expenditures of approximately $65 million. Based on the assumptions, the company expects operating margin to be in a range of 11.7% to 12% for the full year 2014. From a margin implications standpoint for the year, it is expecting a gross margin for the business to be about 41%.
The company is planning for first quarter 2014 sales to be flat to slightly up as compared to fourth quarter 2013 sales of $678.1 million. The company expects operating margin to be approximately 10% in the first quarter of 2014.
Tempur Sealy Unveils Refreshed TEMPUR-Contour and TEMPUR-Cloud Collections
Feb 4 14
Tempur Sealy International Inc. has unveiled the refreshed TEMPUR-Contour and TEMPUR-Cloud collections. The refreshed TEMPUR-Contour and TEMPUR-Cloud Collections incorporate core enhancements with rigorously tested preferred-feel results. More TEMPUR material, and new ways of combining it, amplify the benefits of Tempur-Pedic technology, including its adaptive alignment and support, minimal motion transfer and pressure-relieving comfort for less tossing and turning, which all add up to even better Tempur-Pedic sleep. Wrapped around the improved "insides" is a cover offering more than beautiful design. The new removable top cover ensures that the mattress is always fresh and hygienic. A patent-pending, 360-degree zipper makes the process simple, and the covers fit into any standard-size washer and dryer. Designed for loft and durability, the soft fabric is engineered to last through years of use and washing. Maintaining a comfortable temperature when one sleeps is now a given with this two-part system. On the mattress's outer cover, a layer of moisture-wicking fabric draws moisture away from the body. Plus, the inner cover includes a special treatment for cool-to-the-touch comfort. Now the beauty of a Tempur-Pedic mattress matches the advanced technology on the inside. An upholstery fabric in a sophisticated shade of grey delivers a more luxurious look to the sides of each mattress, and coordinates with perfectly matched foundations and adjustable bases. Additional Products at Las Vegas Market include: TEMPUR-Breeze Pillow; TEMPUR-Ergo Adjustable Bases. This new pillow features state-of-the-art cooling material on one side so warm sleepers can enjoy quick, cool comfort when they need it, while also benefiting from the huggable and malleable TEMPUR material microcushions inside adjust and support with movement. Personalize in-bed comfort with a TEMPUR-Ergo Adjustable Base. Sleepers can customize their position with a range of ergonomic options, making it easy to read, watch TV and use a laptop. All offer deeply functional comfort and beautifully match the new line.
Tempur Sealy International Launches Product Lines at Las Vegas Market
Jan 27 14
Tempur Sealy International Inc. demonstrated its power at Las Vegas Market, uniting two bedding icons with a single vision. The strength of the brand portfolio with the most recognized names in innovation, luxurious craftsmanship, and trusted value are evident in the three compelling product launches debuting at Las Vegas Market. The Tempur-Pedic(R) brand debuts an iconic new look in its completely reinvented TEMPUR-Cloud(R) and TEMPUR-Contour(TM) collections. Starting from the inside out, the new beds feature even more TEMPUR material, which provides greater body-adaptive benefits. Wrapping these even-better 'insides' are a breakthrough EasyRefresh(TM) removable washable cover, and a cool-to-the-touch SmartClimate(TM) System, both of which delighted consumers in extensive rounds of research. The Stearns and Foster brand elevates even further its bench-mark-setting beauty and luxurious comfort with more master craftsmanship, the finest materials, and the incorporation of the latest in hybrid and cooling technologies. A collection of matching adjustable bases provides enhanced comfort for consumers and profit potential for retailers. The new Optimum(R) line provides consumers and retailers alike in gel memory foam. Building on the brand's smart application of comfort providing technology, the new Optimum(R) line introduces the first mattresses to feature cooling gel foam from the top to the bottom of the mattress. In multiple rounds of research, consumers loved the winning look and the fall-asleep-faster cooling comfort.