Tempur Sealy International Inc.’s TPX stock fell 5.1% before market open Thursday after the mattress company’s fourth-quarter sales came in below Wall Street’s estimates. The company posted net income of $101.7 million, or 57 cents a share, down from $175.8 million, or 88 cents a share, in the year-earlier period. Adjusted per-share earnings came to 54 cents, above the FactSet consensus of 52 cents a share. Revenue fell to $1.187 billion from $1.360 billion a year ago, below the $1.220 billion FactSet consensus. “Although the robust market we experienced in 2021 represented a challenging comparison for 2022, we outperformed the global bedding market, expanding our leading position in the global industry,” said Tempur Sealy CEO Scott Thompson, in a statement. For the full year 2023 Tempur Sealy expects adjusted earnings per share between $2.60 and $2.80, reflecting the company’s current sales outlook for mid single digit year-over-year growth. Analysts surveyed by FactSet are looking for earnings of $2.76 for the full year 2023.
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