Longbow Research Downgrades Tempur Sealy (TPX) to Neutral
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Tempur Sealy Provides Business Update
September 27, 2016 4:10 PM EDTLEXINGTON, Ky., Sept. 27, 2016 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX) today provided an update to its financial guidance for full year 2016 and sales trends in advance of its participation at a financial conference.
Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "Third quarter net sales are below our prior expectations. We currently expect net sales for the full year to be down 1 to 3 percent as compared to 2015. For the full year 2016, the Company currently expects Adjusted EBITDA to range from $500 million to $525 million."
Thompson concluded,... More
