Lexington Kentucky – Visco-foam to sprung mattress maker Tempur Sealy expects flat sales and income in 2016, according to a preview of its full year numbers contained in a press release on 30 January 2017.
The company expects to report total net sales of around $3.1 bn down 1% compared to the previous year and net income also down 1% at $200 m. Meanwhile, the company estimates that earnings before interest, taxation, depreciation and motorisation (ebitda) will be between $519 m and $522 m. The company said that this is preliminary financial information and subject to completion of the audit of financial statements.
In the fourth quarter of 2016, the company anticipates that ebitda will be between $127 m and $130 m and, that net income will be between $61.4 m and $63.4 m.
The company released the preliminary financial information in other news that it had terminated business with American-based retail bedding sales company Mattress Firm, which accounts for approximately 21% of Tempur Sealy's sales worldwide.
Tempur Sealy expects to announce its fully audited 2016 financials on 16 February 2017.