Tempur Sealy International Cut FY24 Adj EPS To $2.45-$2.65 (Prior $2.60-$2.90) Vs $2.67 Est and Sales Growth of Consistent (Prior Low to Mid-Single Digit) YoY Vs $5.02B Est
Portfolio Pulse from Benzinga Newsdesk
Tempur Sealy International has revised its FY24 adjusted EPS guidance to $2.45-$2.65 from the previous $2.60-$2.90, against an estimate of $2.67. The company expects sales growth to be consistent year-over-year, compared to the previous guidance of low to mid-single digit growth.
August 06, 2024 | 10:40 am
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Tempur Sealy International has lowered its FY24 adjusted EPS guidance to $2.45-$2.65 from $2.60-$2.90, which is below the $2.67 estimate. The company also expects sales growth to be consistent year-over-year, rather than the previously expected low to mid-single digit growth.
The downward revision in EPS guidance and the expectation of consistent sales growth rather than the previously anticipated low to mid-single digit growth are likely to be viewed negatively by investors. This could lead to a short-term decline in TPX's stock price.
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