Tempur Sealy Q3 FY20 sales jump 38% to $1.13 bn

Tempur Sealy International, a US-based manufacturer of mattresses, foundations and pillows, reported 37.9 per cent sales growth to $1.13 billion in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the sales of $821.0 million in same period last year. Net income attributable to the company rose to $121.4 million (Q3 FY19: $73.3 million).

 

Tempur Sealy International, a US-based manufacturer of mattresses, foundations and pillows, reported 37.9 per cent sales growth to $1.13 billion in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the sales of $821.0 million in same period last year. Net income attributable to the company rose to $121.4 million (Q3 FY19: $73.3 million).#

“Our results reflect strong industry demand, our worldwide leadership position in the industry, and the success of our omni-channel distribution strategy. As expected, our net sales growth rate was reduced by about 10 per cent from customer orders that were either cancelled or reduced due to allocations in the quarter due to supplier issues impacting Sealy and Sherwood in the US,” Scott Thompson, chairman and CEO at Tempur Sealy, said in a press release.

 

Tempur Sealy International, a US-based manufacturer of mattresses, foundations and pillows, reported 37.9 per cent sales growth to $1.13 billion in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the sales of $821.0 million in same period last year. Net income attributable to the company rose to $121.4 million (Q3 FY19: $73.3 million).#

Gross profit during Q3 FY20 increased to $530.2 million ($360.6 million). Selling, general and administrative expenses were $229.7 million ($168.6 million). Operating income surged to $180.2 million ($120.6 million).

 

Tempur Sealy International, a US-based manufacturer of mattresses, foundations and pillows, reported 37.9 per cent sales growth to $1.13 billion in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the sales of $821.0 million in same period last year. Net income attributable to the company rose to $121.4 million (Q3 FY19: $73.3 million).#

Sales in North America increased 43.2 per cent to $976.5 million ($682.0 million). Whereas, international net sales grew 12.1 per cent to $155.8 million ($139.0 million).

 

Tempur Sealy International, a US-based manufacturer of mattresses, foundations and pillows, reported 37.9 per cent sales growth to $1.13 billion in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the sales of $821.0 million in same period last year. Net income attributable to the company rose to $121.4 million (Q3 FY19: $73.3 million).#

“The company's long-term strategies and recent investments position Tempur Sealy as a growth company with a fortified balance sheet and a capital allocation plan that is designed to drive shareholder value, mitigate volatility and increase diversity of its shareholder base,” Thompson said.