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Tempur Sealy International Q3 profit climbs 47.3% YOY

Tempur Sealy International Inc. said its third-quarter normalized net income was $1.19 per share, compared with the S&P Capital IQ consensus estimate of $1.21 per share.

EPS increased 57.6% year over year from 76 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $70.1 million, a gain of 47.3% from $47.6 million in the prior-year period.

The normalized profit margin climbed to 8.4% from 5.4% in the year-earlier period.

Total revenue decreased 5.4% on an annual basis to $832.4 million from $880.0 million, and total operating expenses fell 8.3% on an annual basis to $703.7 million from $767.6 million.

Reported net income increased 92.8% from the prior-year period to $77.6 million, or $1.32 per share, from $40.3 million, or 64 cents per share.