TPX: Tempur Sealy Stock Shoots Higher on Earnings Beat

The mattress maker's sales also topped forecasts

   

TPX: Tempur Sealy Stock Shoots Higher on Earnings Beat

On Thursday, Tempur Sealy (TPX) posted a sharply higher quarterly profit. The news sent TPX shares up about 4% in Friday morning trading.

tempur185 TPX: Tempur Sealy Stock Shoots Higher on Earnings Beat TPX shares gained after Tempur Sealy said it earned $27.4 million during the first quarter, more than double the $12.5 million it reported in the prior-year period. Adjusted EPS came in at 53 cents, topping the 51 cents that analysts had forecast, the Wall Street Journal noted.

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During the quarter, TPX said sales soared to $701.9 million due to its acquisition of Sealy, which accounted for $363.2 million in sales. Wall Street was looking for $683.3 million in sales.

TPX stock closed at $50.55 per share on Thursday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/tpx-tempur-sealy-stock-shoots-higher-earnings-beat/.

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