Tempur Sealy beats 4Q profit and revenue expectations

StocksAssociated Press

LEXINGTON, Ky. (AP) — Tempur Sealy International Inc. (TPX) on Thursday reported fourth-quarter earnings of $46.6 million.

The Lexington, Kentucky-based company said it had profit of 75 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, were 86 cents per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The mattress maker posted revenue of $745.5 million in the period, which also beat Street forecasts. Analysts expected $741.5 million, according to Zacks.

For the year, the company reported profit of $108.9 million, or $1.75 per share. Revenue was reported as $2.99 billion.

Tempur Sealy expects full-year earnings in the range of $2.70 to $3.10 per share, with revenue in the range of $3.05 billion to $3.15 billion.

Tempur Sealy shares have risen roughly 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.85, a climb of 18 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPX at http://www.zacks.com/ap/TPX

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Keywords: Tempur Sealy, Earnings Report