Tempur Sealy Q4 Earnings Miss Street View

Tempur Sealy International Inc TPX reported fourth-quarter FY21 sales growth of 28.6% year-on-year, to $1.36 billion, missing the analyst consensus of $1.45 billion.
Sales in North America rose 18.9% Y/Y, and the international segment sales gained 82.1%.
The gross margin for the quarter contracted 140 basis points to 44.5%, and the gross profit rose 24.6% Y/Y to $604.5 million.
The operating margin was 18.4%, and operating income for the quarter rose 29.8% to $250.8 million.
The adjusted EBITDA jumped 24.2% Y/Y to $297.4 million.
Adjusted EPS of $0.88 missed the analyst consensus of $0.95.
The board of directors approved an 11% hike in quarterly cash dividend to $0.10 per share, payable on March 22, 2022, to shareholders of record on March 8, 2022.
The company held $300.7 million in cash and equivalents as of December 31, 2021.
Outlook: Tempur Sealy sees FY22 EPS of $3.65 - $3.85 versus the consensus of $3.76. The company's current sales outlook is for year-over-year growth of 15% - 20%.
Price Action: TPX shares are trading higher by 0.32% at $37.41 on the last check Tuesday.

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