Tempur Sealy International has announced its Third Quarter 2024 financial results. Total net sales for the third quarter of 2024 increased by 1.8%, reaching $1,300.0 million compared to $1,277.1 million in the same period of 2023.
The North America business segment saw a slight decline of 0.8%, while the International business segment grew by 12.4%. On a constant currency basis, total net sales rose by 1.7%, with North America experiencing a decrease of 0.4% and International sales growing by 10.5%.
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For the full year 2024, the Company narrowed its expectations for an adjusted EPS(1) range of $2.45 to $2.55, which represents a 4% increase in adjusted EPS(1) from the prior year at the midpoint. This contemplates the Company's current outlook that 2024 sales will be slightly below the prior year.
Company Chairman and CEO Scott Thompson comments, 'We are pleased with our performance in the third quarter. Our global market outperformance, led by double-digit growth in our international segment, resulted in consolidated sales growth year-over-year despite the global bedding industry continuing to perform significantly below historical trends. Sales growth coupled with our operational efficiency initiatives and diverse business platform resulted in solid growth in both adjusted EBITDA and adjusted EPS. We continue to see our investments in product, people, and advertising as foundational to our long-term success.'
More information:
Tempur Sealy International
www.tempursealy.com