Tempur Sealy Intl. (TPX) stock prices were up by 16.36% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$43.81 early on in the trading day.
TPX Stock’s Net Sales Reports
Total net sales for the second quarter of fiscal 2021 increased by 75.8% to hit nearly USD$1.17 billion, up from the USD$665.2 million reported for the prior-year quarter. On a constant currency basis, TPX Stock reported total net sales being up by 72.6%, with the North American business segment reported a 73.8% increase while the International business segment reported an increase of 64.5%.
Gross Margin and Operating Income
Gross margin for the quarter came out to 44.3%, up from the 40% reported in the second quarter of 2020. Adjusted gross margin was reported at 40.6% in the prior-year quarter, with the 2021 quarter not having any adjustments to gross margin. TPX stock reported operating income was up by a massive 318.2%, coming in at USD$223.3 million as compared to the USD$53.4 million reported for the prior-year quarter. Adjusted operating income was up 191.7% from the prior-year quarter, up from USD$77.9 million to USD$227.2 million.
Net Income and Liquidity
Net income was up an astounding 512.2%, from USD$23 million in the second quarter of 2020 up to USD$140.8 million in the second quarter of 2021. Adjusted net income was up 294.9%, up from USD$40.9 million in Q2 2020 to USD$161.5 million reported in Q2 2021. Net cash generated by TPX stock’s operating activities were up to a record-breaking USD$226.7 million, up from the USD$155.4 million in the second quarter of 2020.
Q2 2021 EBITDA and EPS
EBITDA for the second quarter of fiscal 2021 was up 212.3% from the USD$85.2 million in the second quarter of fiscal 2020, with the 2021 quarter reporting USD$266.1 million. Adjusted EBITDA per credit facility was up 146.6%, up to USD$270.3 million as compared to the USD$109.6 million reported for the second quarter of 2020 by TPX stock. Earnings per share were up 527.3%, up to USD$0.69 from the USD$0.11 reported in Q2 2020.
Future Outlook for TPX Stock
Armed with the massive success of its stellar financial reports for the second quarter of 2021, TPX stock is poised to continue its trajectory of success into the upcoming quarters and beyond. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
