Tempur Sealy International, Inc. (NYSE:TPX) Q2 2022 Earnings Conference Call July 27, 2022 8:00 AM ET

Company Participants

Aubrey Moore - Investor Relations

Scott Thompson - Chairman, President and Chief Executive Officer

Bhaskar Rao - Executive Vice President and Chief Financial Officer

Conference Call Participants

Bobby Griffin - Raymond James

Seth Basham - Wedbush Securities

Keith Hughes - Truist

Peter Keith - Piper Sandler

Carla Casella - JPMorgan

David Malinowski - Bank of America

Brad Thomas - KeyBanc

Jonathan Matuszewski - Jefferies

Bob Drbul - Guggenheim

Atul Maheswari - UBS

William Reuter - Bank of America

Laura Champine - Loop Capital

Operator

Good day, and thank you for standing by. Welcome to the Tempur Sealy Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Aubrey Moore with Investor Relations. Please go ahead. Aubrey, your line is now open.

Aubrey Moore

Thank you, operator. Good morning, everyone, and thank you for participating in today’s call. Joining me today are Scott Thompson, Chairman, President and CEO; and Bhaskar Rao, Executive Vice President and Chief Financial Officer. After prepared remarks, we will open the call for Q&A. This call includes forward-looking statements that are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include uncertainties and actual results may differ materially due to a variety of factors that could adversely affect the company's business. These factors are discussed in the company's SEC filings, including its annual reports on Form 10-K and quarterly reports on Form 10-Q under the headings, special note regarding forward-looking statements and risk factors.

Any forward-looking statement speaks only as of the date on which it was made. The company undertakes no obligation to update any forward-looking statement. This morning's commentary also includes non-GAAP financial information. Reconciliations of this non-GAAP financial information can be found in the accompanying press release, which has been posted on the company's investor website at investor.tempursealy.com and filed with the SEC. Our comments will supplement the detailed information provided in the press release.

And now, with that introduction, it's my pleasure to turn the call over to Scott.

Scott Thompson

Thank you, Aubrey. Good morning, everyone, and thank you for joining us on our 2022 second quarter earnings call. I'll begin with some commentary on the second quarter, then spend some time discussing how we're continuing to drive our long-term growth initiatives in the current very fluid operating environment. Then Bhaskar will review our second quarter financial performance in more detail and discuss our updated 2022 guidance, which has been revised to reflect the changes in the market. Finally, I'll share a few closing remarks regarding how our business model would operate in a recessionary environment, and then we'll open it up for Q&A.