Why Tempur Sealy Stock Is Hibernating Today
Shares of Tempur Sealy International (NYSE: TPX) hit the sack with a vengeance on Tuesday, following the release of disappointing fourth-quarter results. The mattress maker's stock had fallen 14.2% lower at 10:30 a.m. ET on extraordinarily heavy trading volume.
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Your average Wall Street analyst had expected Tempur Sealy to post adjusted earnings near $0.96 per diluted share on approximately $1.45 billion in top-line revenues. Instead, the company delivered earnings of $0.88 per share and $1.36 billion of total net sales. The results also fell short of management's guidance by razor-thin margins. Looking ahead, Tempur Sealy offered full-year earnings guidance roughly in line with current Street expectations. The board also chose to increase quarterly dividend payouts from $0.09 to $0.10 per share at this time.
Source Fool.com
