By Dean Seal
Tempur Sealy International lowered its 2023 outlook after third-quarter adjusted earnings came in short of analysts’ forecasts.
The mattress and bedding company said it now expects adjusted earnings, which strip out one-time items, of $2.30 to $2.50 a share for the year, down from previous guidance at $2.50 to $2.70 a share.
Sales are still expected to be flat to slightly up compared with last year’s total.
The revision comes after Tempur Sealy logged lower adjusted earnings than expected during the third quarter on lower profit and roughly flat revenue.
Write to Dean Seal at dean.seal@wsj.com
Read the full article here
