Why Tempur Sealy International Stock Just Popped
Shares of mattress maker Tempur Sealy International (NYSE: TPX) plumped up on Thursday, rising 11.3% through 10:30 a.m. EST after the company reported estimate-crushing fourth-quarter earnings this morning. Although analysts expected $0.52 per share in adjusted earnings on just $988 million in sales, Tempur Sealy instead said it earned $0.67 (both pro forma and GAAP) on sales of nearly $1.1 billion in the fourth quarter of 2020. Tempur Sealy's sales soared 21% year over year, while net earnings according to generally accepted accounting principles (GAAP) more than tripled over last year's $0.21.