Tempur Sealy Reports Record First Quarter 2020 results
Tempur Sealy International, Inc. (TPX)
Last tempur sealy international, inc. earnings: 4/30 06:37 am
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US:NYSE Investor Relations:
investor.tempursealy.com/investor-relations
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Source: PR Newswire
LEXINGTON, Ky., April 30, 2020 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX) announced financial results for the first quarter ended March 31, 2020. As previously announced, the Company has withdrawn its previously-issued full-year financial guidance for 2020 and will not provide updated full-year financial guidance until the operating environment becomes clear.FIRST QUARTER 2020 FINANCIAL SUMMARYTotal net sales increased 19.0% to $822.4 million as compared to $690.9 million in the first quarter of 2019. On a constant currency basis(1), total net sales increased 19.8%, with an increase of 24.5% in the North America business segment and an increase of 2.0% in the International business segment. Gross margin was 43.4% as compared to 40.8% in the first quarter of 2019. Operating income increased 74.0% to $105.3 million as compared to $60.5 million in the first quarter of 2019. Operating income in the first quarter of 2020 included $11.7 million of charges associated with a
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