Stock Story -
Bedding manufacturer Tempur Sealy (NYSE:TPX) will be reporting results tomorrow before market open. Here’s what investors should know.
Tempur Sealy missed analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $1.23 billion, down 2.8% year on year. It was a slower quarter for the company, with underwhelming earnings guidance for the full year.
Is Tempur Sealy a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Tempur Sealy’s revenue to be flat year on year at $1.29 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.81 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 3 downward revisions over the last 30 days (we track 9 analysts).
Looking at Tempur Sealy’s peers in the home furnishings segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Mohawk Industries’s revenues decreased 1.7% year on year, meeting analysts’ expectations, and Leggett & Platt reported a revenue decline of 6.3%, in line with consensus estimates. Mohawk Industries (NYSE:MHK) traded down 13.7% following the results while Leggett & Platt was up 4%.
Read the full analysis of Mohawk Industries’s and Leggett & Platt’s results on StockStory.
There has been positive sentiment among investors in the home furnishings segment, with share prices up 3.3% on average over the last month. Tempur Sealy is down 4.7% during the same time and is heading into earnings with an average analyst price target of $57.75 (compared to the current share price of $49.55).