☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or 1000 Tempur Way Lexington, Kentucky 40511 (Address of principal executive offices) Registrant's telephone number, including area code: (800) 878-8889 Securities ...

Financial Data and Key Metrics - Consolidated sales for Q3 2023 were approximately $1.3 billion, with adjusted EPS of $0.77, consistent with the previous year despite a challenging macroeconomic environment [23][26] - Consolidated adjusted gross margin improved by 340 basis points year-over-year, driven by successful management of commodity fluctuations, improved supplier contracts, and operational efficiencies [18] - North American net sales declined 3% in Q3, with wholesale channel down 4% and direct channel down 1%, while adjusted gross margin improved by 300 basis points to 43.2% [20] - International net sales increased 12% on a reported basis and 7% on a constant currency basis, with gross margin improving by 320 basis points to 56.6% [36] - Operating cash flow for Q3 was approximately $230 million, and the company has paid down $200 million of debt over the first nine months of 2023 [27] Business Line Performance - The new Tempur product lineup, including the Breeze mattresses, drove a 5% increase in Tempur Mattress and Foundation ASP in Q3, with strong retail advocacy and favorable mix [35] - Stearns & Foster products saw double-digit ASP growth year-over-year, with search interest and e-commerce traffic up 50% [17] - Dreams, the UK retail operation, outperformed the broader market with record customer satisfaction and solid sales growth [1] - The company completed the rollout of the new Stearns & Foster mattress collection earlier in 2023, which is resonating with premium inner-spring consumers [17] Market Performance - The U.S. market underperformed expectations, with estimated volume down low double-digits in Q3, but the company mitigated the impact through solid international performance [5] - International operations, particularly in Europe and Asia, performed well, with the new Tempur lineup launched in over 90 markets, including key markets in Europe and Asia [1] - The UK market, despite being tough, saw growth in sales for Dreams, indicating significant market share gains [80] Strategic Direction and Industry Competition - The company is focused on operational efficiencies, with significant improvements in supply contracts, labor productivity, and logistics efficiencies expected to drive further margin expansion [19] - Tempur Sealy is progressing towards the acquisition of Mattress Firm, with post-closing supply agreements signed to ensure a multi-branded retail strategy and avoid supply disruptions [9][39] - The company continues to invest in advertising and product innovation, with a record $480 million spent on advertising in 2023 to support leading brands and new products [37] Management Commentary on Operating Environment and Future Outlook - Management highlighted the normalization of seasonality in the U.S. market, with deeper troughs during non-holiday periods and growth during holiday periods [42][43] - The industry has been in decline for nine quarters, with unit volumes at levels similar to the Great Recession, driven by macroeconomic factors and reduced advertising [44] - Management remains optimistic about market share gains in 2024, even in a softer market, driven by internal cost controls and continued investment in advertising and product innovation [56] Other Important Information - The company expects adjusted EPS for 2023 to be in the range of $2.30 to $2.50, with a midpoint based on sales consistent with the prior year [37] - Tempur Sealy has refinanced its credit facilities, extending debt maturities and improving financial flexibility, with a leverage ratio expected to be between 3 and 3.25 times post-acquisition of Mattress Firm [28] - The company has signed multiple post-closing supply agreements with Mattress Firm suppliers to ensure a stable market and avoid supply disruptions [9] Q&A Session Summary Question: Demand Environment and Trends in Q3 [32] - The U.S. market saw deeper troughs during non-holiday periods and growth during holiday periods, with the industry in decline for nine quarters due to macroeconomic factors and reduced advertising [42][43][44] Question: Growth Investments and SG&A Increase [3] - The company made growth investments in Q3, including advertising and new store openings, which contributed to the increase in SG&A [3][60] Question: Industry Advertising and Market Share [33][52] - The industry has seen a significant reduction in top-of-funnel advertising, with manufacturers down 64% and retailers down 44%, impacting overall traffic and market performance [33][52] Question: 2024 Cost and Expense Outlook [48] - The company expects continued operational efficiencies and cost reductions in 2024, with tailwinds from improved supply contracts and labor productivity [48][50] Question: Supply Agreements and Gross Margin Impact [53] - The new supply agreements signed with Mattress Firm suppliers are expected to provide stability and benefit gross margins in 2024 [53] Question: Industry Recovery and Advertising [64] - Management believes that a recovery in industry advertising is key to returning to normalized unit levels, as the industry relies on triggering customer interest through advertising [64] Question: Market Share Gains and Competitive Strategy [78] - Tempur Sealy is gaining market share from competitors in both the U.S. and international markets, driven by strong product offerings, advertising, and long-term strategic decisions [78][71] Question: Mattress Firm Performance [83] - Mattress Firm has performed better than expected in the challenging U.S. market, outperforming the industry, which was down low double-digits in Q3 [83] Question: Commodity Price Trends [85] - Commodity prices have normalized but remain elevated compared to 2020 levels, with the company benefiting from favorable commodity markets and long-term supplier agreements [85] Question: Entry-Level Customer Challenges [86] - The entry-level customer segment is under pressure, with higher-end products like Tempur and Stearns & Foster performing well, while entry-level Sealy products face challenges [86]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-31922 TEMPUR SEALY INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

Tempur Sealy International, Inc. (NYSE:TPX) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET Company Participants Aubrey Moore - VP, IR Scott Thompson - Chairman, CEO & President Bhaskar Rao - EVP & CFO Conference Call Participants Robert Griffin - Raymond James & Associates Susan Maklari - Goldman Sachs Group Keith Hughes - Truist Securities Atul Maheswari - UBS Seth Basham - Wedbush Securities Carla Casella - JPMorgan Chase & Co. Steven McDermott - Bank of America Merrill Lynch William Reuter - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-31922 TEMPUR SEALY INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Tempur Sealy International, Inc. (NYSE:TPX) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET Company Participants Aubrey Moore - Vice President of Investor Relations Scott Thompson - Chairman, President, and Chief Executive Officer Bhaskar Rao - Executive Vice President, and Chief Financial Officer Conference Call Participants Susan Maklari - Goldman Sachs Bobby Griffin - Raymond James Peter Keith - Piper Sandler Curtis Nagle - Bank of America Merrill Lynch Atul Maheswari - UBS Seth Basham - Wedbush ...

International Operations - The company generated approximately 26.9% of its net sales outside of the U.S. for the year ended December 31, 2022[101] - The company faces risks from international operations, including compliance with foreign laws and foreign exchange exposure[102] Taxation - The company is a participant in the Advance Pricing Agreement Program for tax years 2012 through 2024, which may impact its income tax expense and effective tax rate[100] - The company recorded an income tax benefit in the fourth quarter of 2022 due to a preliminary framework agreed upon with the Danish Tax Authority[100] - The Inflation Reduction Act of 2022 introduces a 1% excise tax on share repurchases, effective for tax years beginning in 2023, which may impact the program[115] Dividends and Share Repurchase - The company declared a quarterly cash dividend of 11 cents per share for the first quarter of 2023[111] - The share repurchase program authorized in 2016 allowed the company to repurchase 55.2 million shares for approximately $2,383.9 million by December 31, 2022[115] - As of December 31, 2022, there is approximately $779.5 million remaining under the share repurchase authorization[115] - The company’s share repurchase program may be suspended or terminated at any time, influenced by market conditions and other factors[115] Regulatory and Compliance Risks - The company is subject to various regulatory requirements, including health and environmental regulations, which may expose it to liability[103] - The company may face challenges related to pricing and promotional allowance policies, which could lead to significant costs if challenged by regulators[107] Financial Leverage and Operational Flexibility - The company operates with a certain amount of leverage, which may limit its operational flexibility and ability to respond to changing business conditions[97] Pension Plans - The company participates in multi-employer pension plans that are currently underfunded, which may require additional cash payments[105] Climate Change Risks - The company is exposed to risks related to climate change, which could adversely impact its operations and financial condition[108] Anti-Takeover Provisions - Delaware law and the company's bylaws contain anti-takeover provisions that could delay or discourage mergers not approved by the Board of Directors[116] - These anti-takeover provisions may limit the price investors are willing to pay for shares in the future[116] - The Board of Directors may adopt a stockholder rights agreement that could further complicate unapproved acquisitions[116]

Tempur Sealy International, Inc. (NYSE:TPX) Q4 2022 Earnings Conference Call February 9, 2023 8:00 AM ET Company Participants Lauren Avritt - Investor Relations Manager Scott Thompson - Chairman, President, and Chief Executive Officer Bhaskar Rao - Executive Vice President, and Chief Financial Officer Conference Call Participants Susan Maklari - Goldman Sachs Seth Basham - Wedbush Curtis Nagle - Bank of America Bobby Griffin - Raymond James Atul Maheswari - UBS Jonathan Matuszewski - Jefferies Brad Thomas - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-31922 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or TEMPUR SEALY INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-31922 TEMPUR SEALY INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (State or other jurisdiction of incorporatio ...