Tempur Sealy Files Q2 2024 10-Q
Ticker: SGI · Form: 10-Q · Filed: 2024-08-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report, household-furniture
TL;DR
Tempur Sealy's Q2 2024 10-Q is in, showing latest financials. Check it for mattress market insights.
AI Summary
Tempur Sealy International, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the household furniture sector.
Why It Matters
This filing provides investors and analysts with the latest financial health and performance data for Tempur Sealy, crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company in the consumer goods sector, Tempur Sealy faces inherent market, economic, and competitive risks detailed in its SEC filings.
Key Numbers
- 2024-06-30 — End of Reporting Period (Covers the second quarter of 2024)
- 2024-08-08 — Filing Date (Date the 10-Q was submitted to the SEC)
- 2024-04-01 — Start of Q2 2024 (Beginning of the second quarter reporting period)
- 2023-04-01 — Start of Q2 2023 (Beginning of the comparative second quarter reporting period in 2023)
- 2023-12-31 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st)
Key Players & Entities
- TEMPUR SEALY INTERNATIONAL, INC. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240808 (date) — Filing date of the 10-Q
- HOUSEHOLD FURNITURE [2510] (industry) — Company's Standard Industrial Classification
FAQ
What were Tempur Sealy's total assets as of June 30, 2024?
The filing indicates a value for total assets as of June 30, 2024, but the specific dollar amount is not provided in the excerpt.
What is the company's primary industry classification?
Tempur Sealy International, Inc. is classified under HOUSEHOLD FURNITURE [2510].
When did the company change its name from TEMPUR PEDIC INTERNATIONAL INC?
The company changed its name from TEMPUR PEDIC INTERNATIONAL INC on December 2, 2003.
What is the filing date for this 10-Q report?
This 10-Q report was filed on August 8, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending June 30, 2024.
Filing Stats: 4,617 words · 18 min read · ~15 pages · Grade level 8.2 · Accepted 2024-08-08 07:01:28
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value TPX New York Stock Exchange
Filing Documents
- tpx-20240630.htm (10-Q) — 1549KB
- tpx-20240630exhibit311.htm (EX-31.1) — 12KB
- tpx-20240630exhibit312.htm (EX-31.2) — 11KB
- tpx-20240630exhibit321.htm (EX-32.1) — 8KB
- 0001206264-24-000135.txt ( ) — 6588KB
- tpx-20240630.xsd (EX-101.SCH) — 31KB
- tpx-20240630_cal.xml (EX-101.CAL) — 58KB
- tpx-20240630_def.xml (EX-101.DEF) — 140KB
- tpx-20240630_lab.xml (EX-101.LAB) — 470KB
- tpx-20240630_pre.xml (EX-101.PRE) — 321KB
- tpx-20240630_htm.xml (XML) — 1088KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1.
Financial Statements
Financial Statements Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 32 ITEM 4.
Controls and Procedures
Controls and Procedures 32
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 32 ITEM 1A.
Risk Factors
Risk Factors 32 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 ITEM 3. Defaults upon Senior Securities 33 ITEM 4. Mine Safety Disclosures 33 ITEM 5. Other Information 34 ITEM 6. Exhibits 35
Signatures
Signatures 36 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS TEMPUR SEALY INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME ($ in millions, except per common share amounts) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net sales $ 1,233.6 $ 1,269.7 $ 2,423.0 $ 2,477.8 Cost of sales 679.4 727.4 1,356.2 1,435.6 Gross profit 554.2 542.3 1,066.8 1,042.2 Selling and marketing expenses 276.2 270.2 541.2 526.9 General, administrative and other expenses 107.8 117.5 228.8 222.0 Equity income in earnings of unconsolidated affiliates ( 3.1 ) ( 4.2 ) ( 8.0 ) ( 8.8 ) Operating income 173.3 158.8 304.8 302.1 Other expense, net: Interest expense, net 33.4 33.6 67.7 66.4 Other income, net ( 0.6 ) ( 0.2 ) ( 0.9 ) ( 0.1 ) Total other expense, net 32.8 33.4 66.8 66.3 Income before income taxes 140.5 125.4 238.0 235.8 Income tax provision ( 34.0 ) ( 32.2 ) ( 54.7 ) ( 56.7 ) Net income before non-controlling interest 106.5 93.2 183.3 179.1 Less: Net income attributable to non-controlling interest 0.4 0.8 0.9 1.4 Net income attributable to Tempur Sealy International, Inc. $ 106.1 $ 92.4 $ 182.4 $ 177.7 Earnings per common share: Basic $ 0.61 $ 0.54 $ 1.05 $ 1.03 Diluted $ 0.60 $ 0.52 $ 1.02 $ 1.01 Weighted average common shares outstanding: Basic 173.7 172.1 173.6 172.1 Diluted 178.0 176.8 178.0 176.8 See accompanying Notes to Condensed Consolidated Financial Statements. 4 Table of Contents TEMPUR SEALY INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ($ in millions) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income before non-controlling interest $ 106.5 $ 93.2 $ 183.3 $ 179.1 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments ( 7.5 ) 17.2 ( 23.0 ) 32.1 Pension benefits loss, net of tax — — ( 0.3 ) — Other comprehensive (loss) income, net of tax ( 7.5 ) 17.2 ( 23.3