Tempur Sealy International Inc. said Thursday it has secured a $200 million term loan from a group of banks, as it works to bolster liquidity during the coronavirus pandemic. The mattress company is planning to use the proceeds to repay debt under a $425 million revolving credit facility. "We believe that our previous liquidity position was adequate based on current and expected market conditions," said Tempur Sealy Chairman and CEO Scott Thompson. "However, given the future uncertainty of the COVID-19 crisis, we worked with our commercial bank group to proactively secure the 364-Day Loan." The loan was oversubscribed by 50%, he said. Shares were not yet active premarket, but have fallen 43% in the year to date, while the S&P 500 has fallen 13%.

Tempur Sealy International, Inc., (NYSE: TPX) announced today that the Tempur Sealy Foundation is donating $160,000 to charities that are serving communities during the COVID-19 crisis. These charities include, among others, The Red Cross, The United Way, KVC Kentucky, Ronald McDonald House Charities of the Bluegrass, Sunrise Children's Services and Lexington Rescue Mission.

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Everyone seems to be buying a new bed during the COVID-19 pandemic.

The global death toll from the coronavirus that causes COVID-19 edged closer to 300,000 on Thursday, as a new poll found the majority of Americans disapprove of President Donald Trump’s handling of the pandemic.

Tempur Sealy International, Inc. (NYSE: TPX, "Company") announced today that it has successfully obtained an incremental borrowing of $200 million.

Tempur Sealy (TPX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Ladies and gentlemen, thank you for standing by, and welcome to the Tempur Sealy First Quarter 2020 Earnings Conference Call. It is now my pleasure to introduce Aubrey Moore, Investor Relations. Joining me in our Lexington headquarters are Scott Thompson, Chairman, President and CEO; and Bhaskar Rao, Executive Vice President and Chief Financial Officer.

Tempur Sealy International, Inc. (NYSE: TPX, "Company") today provided an update on its second quarter performance. Quarter-to-date orders have significantly improved and the Company now expects total second quarter net sales to be down approximately 30% compared to the prior year. This improvement in trends has been broad-based, driven by continued robust growth from global e-commerce, the re-opening of domestic retail stores, and positive trends in Asia and Northern Europe.

Tempur Sealy International, Inc. (NYSE: TPX, "Company") announced today that Scott Thompson, Chairman and CEO, has pledged to contribute his remaining 2020 net base salary to the Tempur Sealy Foundation, which generally supports children and families in need. Furthermore, the Company's Board of Directors (the "Board") elected to forego their board fees for the remainder of 2020 which will be contributed to the Tempur Sealy Foundation. Other executives of the Company have also volunteered to contribute a portion of their base salaries to support the cause.

Tempur Sealy International, Inc. (NYSE: TPX, "Company") announced today that customers and associates are welcomed back into the Company's U.S. Tempur-Pedic and Sleep Outfitters retail stores. After temporary closures, the Company has begun opening its domestic retail stores in a phased approach in compliance with recommended safety precautions from the CDC, state and local health authorities and its Clean Shop Promise™ protocol. Tempur Sealy expects the vast majority of its approximately 160 U.S. retail locations to be open by the end of May. Some may operate with reduced hours and/or modified delivery services.

Firm's largest sales of the 1st quarter Continue reading...

Hedge fund Greenlight Capital said it sold its position in carmaker General Motors, saying the company's forecast for 2020 was worse than the hedge fund had expected. "General Motors was a disappointment," the firm wrote to investors in a letter seen by Reuters. During the five years that Greenlight owned shares in the carmaker, the hedge fund earned an internal rate of return of 9.6%, the letter said.

Tempur Sealy (TPX) delivered earnings and revenue surprises of 83.56% and 1.73%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Mattress company Tempur Sealy Inc. said Thursday it is starting to reopen its U.S. Tempur-Pedic and Sleep Outfitters retail stores in a phased approach that complies with local, state and CDC recommendations. The Lexington, Ky.-based company is expecting all 160 U.S. outlets to be open by end May, with some operating reduced hours and delivery services during the coronavirus pandemic. The company is also supporting third-party sellers of its products with their reopening, offering a cleaning protocol. It expects about 65% of those stores to be open by end May. Shares were not active premarket, but have fallen 35% in the year to date, while the S&P 500 has fallen 8%.

The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.

Tempur Sealy International, Inc. (NYSE: TPX) will release its financial results for the first quarter ended March 31, 2020 before the NYSE opening of regular trading on Thursday, April 30, 2020. The Company will hold a conference call to discuss those results at 8:00 a.m. Eastern Time.

Moody's Investors Service, ("Moody's") today changed the rating outlook for Tempur Sealy International Inc. ("Tempur Sealy") to negative from stable. At the same time, Moody's affirmed Tempur Sealy's Corporate Family Rating ("CFR") at Ba3, its Probability of Default Rating at Ba3-PD, and its senior unsecured notes rating at B1. Tempur Sealy's Speculative Grade Liquidity Rating was downgraded to SGL-3 from SGL-2.

Tempur Sealy International, Inc. (NYSE: TPX) announced financial results for the first quarter ended March 31, 2020. As previously announced, the Company has withdrawn its previously-issued full-year financial guidance for 2020 and will not provide updated full-year financial guidance until the operating environment becomes clear.

Q1 2020 Tempur Sealy International Inc Earnings Call