Tempur Sealy Q3 EPS Misses Estimate

(RTTNews) - Tempur Sealy International, Inc. (TPX) reported net income for the third quarter of $37.1 million or $0.60 per share compared to $40.2 million or $0.65 per share for the year-ago quarter.

Excluding items, adjusted EPS increased 21% to $0.88 in the third quarter from $0.73 in the third quarter of last year.

Total net sales increased 12.5% to $827.4 million in the third quarter from $735.5 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.89 per share on revenue of $796.94 million for the third quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now forecasts net sales of $2.970 billion to $3.000 billion and adjusted earnings of $2.60 to $2.70 per share. Previously, the company forecast net sales of $2.93 billion to $2.98 billion and adjusted earnings of $2.60 to $2.85 per share. Analysts currently expect the company to earn $2.73 per share on revenue of $2.95 billion for the full year 2014.