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Tempur Sealy International Q2 profit climbs 38.2% YOY

Tempur Sealy International Inc. said its normalized net income for the second quarter amounted to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS increased 34.6% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.9 million, an increase of 38.2% from $18.0 million in the year-earlier period.

The normalized profit margin climbed to 2.7% from 2.5% in the year-earlier period.

Total revenue rose 6.9% year over year to $764.4 million from $715.0 million, and total operating expenses increased 5.9% from the prior-year period to $705.2 million from $666.1 million.

Reported net income came to $21.2 million, or 34 cents per share, compared to a loss of $2.4 million, or a loss of 4 cents per share, in the prior-year period.