Tempur Sealy International Inc. said its normalized net income for the first quarter came to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.
EPS decreased year over year from 41 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.4 million, a decline from $25.4 million in the prior-year period.
The normalized profit margin dropped to 3.3% from 3.6% in the year-earlier period.
Total revenue increased 5.4% year over year to $739.5 million from $701.9 million, and total operating expenses rose 6.6% on an annual basis to $681.8 million from $639.3 million.
Reported net income fell 13.2% on an annual basis to $23.6 million, or 38 cents per share, from $27.2 million, or 44 cents per share.
