US bedding maker Tempur Sealy Q2 net income skyrockets over 500%

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against $665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million).

 

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against #665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million). #

Gross profit during the three-month period grew 94.9 per cent to $518.2 million ($265.9 million), and the operating income escalated 318.2 per cent to $223.3 million ($53.4 million).

 

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against #665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million). #

"Our strong performance in the quarter was broad-based across geographies and channels. This quarter we were pleased to report global sales growth of 62 per cent compared to 2019, a base year unaffected by Covid,” Scott Thompson, chairman and CEO at Tempur Sealy, said in a press release. “We were especially pleased with our double-digit global web sales growth this quarter verses second quarter 2020 which grew over 125 per cent versus the prior year when traditional retail stores were impacted by Covid.”

 

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against #665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million). #

Sales in North America surged 75.2 per cent to $1,013.8 million ($578.6 million), while the international segment’s sales jumped 79.3 per cent to $155.3 million ($86.6 million).

 

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against #665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million). #

“While the strong industry and healthy consumer have been tailwinds for us recently, our sales and earnings growth has been significantly outpacing the overall market. Our performance is linked to our company initiatives, with new distribution driving approximately 50 per cent of our expected 2-year sales growth,” Thompson added.

 

Tempur Sealy, a US-based manufacturer of mattresses, foundations and pillows, has reported 75.8 per cent sales growth to $1,169.1 million in its second quarter (Q2) of FY21 ended on June 30, 2021, against #665.2 million in Q2 FY20. The company's net income for the quarter skyrocketed over 500 per cent to $140.8 million ($23.0 million). #

The company has also updated its financial guidance for 2021 reflecting the improved business trends and the acquisition of Dreams, which is expected to close in early August. For FY21, Tempur Sealy now expects net sales growth to exceed 35 per cent over prior year.