Lexington-based Tempur Sealy on Tuesday reported earnings for the first quarter that ended March 31 of $23.4 million, or $0.38 per share, down 14.6 percent from the same quarter of 2014. The company said Sealy integration costs and higher annual meeting costs were partly responsible.
Total net sales for the quarter were up 5.4 percent or almost $38 million to $739.5 million, driven by strong North American sales, according to the company. Tempur Sealy also raised its full-year guidance: net sales are expected to range between $3.1 billion to $3.175 billion and earnings per share are expected to range between $2.80 to $3.15 per diluted share.
Tempur Sealy leadership is in a battle with activist shareholders who hope to oust the chairman, CEO and another board member at the annual meeting on May 8 in Boston.