Tempur Sealy International, Inc. ( TPX Quick Quote TPX - Free Report) recently shared business updates for its second-quarter sales performance. Management cited that the company’s quarter-to-date orders have been speedily moving upward since the first-quarter 2021 earnings call. Moreover, for the second quarter of 2021, Tempur targets sales growth of nearly 60% year over year. Shares of the company jumped 7.1% during the trading session on May 27. This significant sales growth expectation reflects the demand for higher-margin Tempur-Pedic products in the United States. The company expects to come up with the full-year 2021 sales and earnings guidance along with results of second-quarter 2021. Furthermore, Tempur Sealy mentioned that the availability of chemical and foam supplies in the United States has improved as expected. It has also been witnessing higher demand for the company’s bedding products, thereby aiding backlog growth for the second quarter of 2021. With respect to this, Scott Thompson, chairman and CEO, Tempur Sealy, said, “Consumer demand for our global brands and products is very strong and broad-based. This improved demand outlook is likely to result in some supply constraints and plant inefficiencies into the third quarter.” Few Facts to Look Upon
Over the past six months, shares of Tempur Sealy have gained 57.2% compared with the Zacks
Retail - Home Furnishings industry’s 49.4% rise. The price performance was backed by the company’s solid earnings and revenue surprise history, having surpassed the Zacks Consensus Estimate in nine of the trailing 10 quarters. The trend is expected to continue in the near term as well, supported by the solid sales growth trajectory that the company has been experiencing. Also, earnings estimates for 2021 have moved up 9.8% over the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential. Zacks Rank & Key Picks
Tempur Sealy currently carries a Zacks Rank #2 (Buy). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Some other top-ranked stocks in the same space are Haverty Furniture Companies, Inc. ( HVT Quick Quote HVT - Free Report) , At Home Group Inc. ( HOME Quick Quote HOME - Free Report) and Fortune Brands Home & Security, Inc. ( FBHS Quick Quote FBHS - Free Report) . Haverty Furniture sports a Zacks Rank #1, while At Home and Fortune Brands carry a Zacks Rank #2. Haverty Furniture’s and Fortune Brands’ 2021 earnings are expected to surge 113.8% and 31.3%, respectively.
At Home has a three-to-five year earnings per share growth rate expectation of 36.8%.
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