Tempur Sealy International Inc (NYSE:TPX) was up today on strong earnings during its first quarter of 2017.
Earnings per share reported by Tempur Sealy International Inc in the first quarter of the year was 96 cents. This is an increase over its earnings per share of 68 cents from the same time last year. It also comes in well above Wall Street’s earnings per share estimate of 72 cents for the quarter.
During the first quarter of 2017, Tempur Sealy International Inc reported revenue of $722.1 million. This is slightly higher than its revenue of $721.0 million that was reported in the first quarter of 2016. It also beat out analysts’ revenue estimate of $717.33 million for the first quarter of the year.
Tempur Sealy International Inc reported operating income of $59.5 million in the first quarter of the year. This is down from its operating income of $76.7 million that was reported in the same period of the year prior.
Net income reported by Tempur Sealy International Inc for the first quarter of 2017 was $33.9 million. This is a decrease from its net income of $39.6 million that was reported in the first quarter of the previous year.
“This represents the eighth consecutive quarter of double-digit adjusted EPS growth,” Tempur Sealy International Inc Chairman and CEO Scott Thompson said in a statement. “We are pleased with the progress of our new product launches around the world and the positive early market reactions.”
Tempur Sealy International Inc also reaffirmed its financial guidance for 2017 in its most recent earnings report. The bedding manufacturer says that it expects adjusted EBITDA for the year to range from $400 million to $450 million.
TPX stock was up 4% as of Thursday morning, but is down 30% year-to-date.