Tempur Sealy International Inc. reported an “estimate-crushing” $144.7 million in earnings, during fiscal fourth-quarter 2021. The Motley Fool reported: “Zacks Investment Research predicted $0.52 per share in adjusted earnings on just $988 million in sales, Tempur Sealy instead said it earned $0.67 on sales of nearly $1.1 billion.”
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Year over year, the Lexington, Kentucky-based mattress major’s fourth-quarter earnings reflected a whopping 213.2% increase, and sales a 21.3% increase.
In the North American segment, net wholesale sales rose 19.5%, to $792.1 million, for the quarter. Direct-to-consumer sales grew 29.6%, to $101.5 million. Internationally, net sales also were robust, rising 25.6% to $163.4 million.
For the full year, net earnings grew 84% to $348.8 million. Net sales rose 18.4% to $3.68 billion.
“We are extremely proud of the global organization’s accomplishments during a year of challenges and uncertainties,” said Chair and Chief Executive Officer Scott Thompson. “The team initiated industry-leading employee and customer safety programs, progressed on ESG (Environmental, Social and Corporate Governance) initiatives, and delivered record full-year sales. The fourth-quarter sales growth was broad-based across all geographies and channels. Retail partners continue to drive sales with our products, and our online sales stood out once again as our U.S. web sales doubled compared to the prior year. This strong sales performance combined with favorable company-wide margins resulting in 2020 being a record year of financial performance. Our innovative products, powerful omnichannel marketing approach and robust global manufacturing capabilities position the company well for 2021 and beyond.”
“Our North American growth was broad-based by brand and channel, with some sales constrained by the shortage of key components, primarily innersprings,” he added.