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Tempur Sealy International, Inc. (TPX), together with its subsidiaries, develops, manufactures, markets, and distributes bedding products in the United States, Canada, and internationally.
It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the TEMPUR, Tempur-Pedic, Sealy, Comfort Revolution, and Stearns & Foster brands.
The company sells its products through third party retailers, including third party distribution, hospitality, and healthcare; and company-owned stores, e-commerce, and call centers, as well as offers Cocoon by Sealy branded products through online. It also operates a portfolio of retail brands, including Tempur-Pedic retail stores, Sleep Outfitters, Sleep Solutions Outlet, SOVA, and other retail brands.
In addition, the company is involved in licensing its Sealy, and Stearns & Foster brands, technology, and trademarks to other manufacturers.
Tempur-Pedic International reported 3rd Quarter September 2020 earnings of $2.94 per share on revenue of $1.1 billion. The consensus earnings estimate was $2.18 per share on revenue of $1.0 billion. Revenue grew 37.9% on a year-over-year basis.
The company said it expects fourth quarter revenue to increase in the low double-digits, or revenue of approximately $980.0 million. The current consensus revenue estimate is $931.25 million for the quarter ending December 31, 2020.
Following a strong earnings report, shares should be heading higher.
Entry Point: $89.00
Trading Range: $22.00 to $100.39
Stop Loss: $84.55
Target Price: $98.00
TPX closed at $99.00
