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Tempur Sealy shares fall premarket after profit misses estimate

Ciara Linnane

Tempur Sealy International Inc. shares slid 4.5% in premarket trade after the company missed profit estimates for the fourth quarter by a wide margin. The Lexington, Kentucky-based mattress company said it had net income of $12.3 million, or 22 cents a share, in the quarter, down 75% from $48.4 million, or 88 cents a share, in the year-earlier quarter. Adjusted per-share earnings came to 90 cents, below the 97 cents FactSet consensus. Sales rose to $676.1 million from $531.4 million, ahead of the $660 million FactSet consensus. Margins shrank to 41.9% from 42.4%. Shares have fallen 2.7% in the last 12 months, while the S&P 500 has gained 2%.