SEC Filing | Tempur Sealy International, Inc.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8‑K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): January 30, 2018

TEMPUR SEALY INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)



Delaware	001-31922	33-1022198
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1000 Tempur Way

Lexington, Kentucky 40511

(Address of principal executive offices) (Zip Code)

(800) 878-8889

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):



	o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure

On January 30, 2018, Tempur Sealy International, Inc. (the "Company") released an updated investor presentation (the "Investor Presentation"). The Investor Presentation will be used from time to time in meetings with investors. A copy of the Investor Presentation is furnished herewith as Exhibit 99.1.

The information disclosed pursuant to this Item 7.01 (including Exhibit 99.1) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liability of that section and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits



Exhibit	Description
99.1	Tempur Sealy International, Inc. January 2018 Investor Presentation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 30, 2018





	Tempur Sealy International, Inc.

	By:	/s/ Bhaskar Rao
	Name:	Bhaskar Rao
	Title:	Executive Vice President & Chief Financial Officer

ex991investorpresentatio

© 2018 Tempur Sealy International, Inc. • Strong brands across a complete portfolio of products • Balanced omni‐channel distribution between wholesale and direct to consumer • Global manufacturing foot print • Over 7,000 worldwide employees • Structural growth industry, with high ROIC and free cash flow • Industry is relatively concentrated in US and fragmented globally Forward-Looking Statements: This investor presentation contains “forward-looking statements” within the meaning of federal securities laws. Please review carefully the cautionary statements and other information included in the appendix under “Forward looking Statements”. Non-GAAP Financial Information: this presentation includes non- GAAP financial measures. Tempur Sealy International, Inc. (TPX) 2 “Success is strengthening our Iconic Brands while driving higher ROIC through focused execution”

© 2018 Tempur Sealy International, Inc. • Develop the most innovative bedding products in all the markets we serve • Invest significant marketing dollars to promote our worldwide brands • Optimize worldwide distribution to be where consumers want to shop • Drive increases in EBITDA 3 Delivering Shareholder Value Focus on long‐term initiatives:

NEW 2018 PRODUCTS 4

© 2018 Tempur Sealy International, Inc. • Simplification & Consistency • Consumer‐Led Language • Raising the Innovation Quotient Putting the Consumer First 5 • Market‐Leading Product • Clear Differentiation between Price Points • Easier Selling to Drive Higher ASP’s Designed to Win at Retail

© 2018 Tempur Sealy International, Inc.7 2017 Tempur‐Pedic Lineup Cloud Prima Flex Prima PRIMA SUPREME ELITE LUXE Cloud Supreme Contour Supreme Flex Supreme Cloud Elite Contour Elite Flex Elite Cloud Luxe Contour Luxe SUPREME Cloud Supreme Flex Supreme Cloud Luxe Contour Luxe ELITE LUXE Contour Elite TEMPUR‐PEDIC BREEZETEMPUR‐PEDIC

© 2018 Tempur Sealy International, Inc.8 Future Tempur‐Pedic Lineup LAUNCHING OVER THE NEXT YEAR TEMPUR‐BREEZETEMPUR‐ADAPT ADAPT PROADAPT LUXEADAPT breeze° SOFT FIRM MEDIUM HYBRID MEDIUM HYBRID $1,999 $2,799

© 2018 Tempur Sealy International, Inc.10 • TEMPUR‐APR, Advanced Pressure Relief • SMARTCLIMATE® Dual Cover System • Removable washable cover TEMPUR‐ProAdapt™ Advanced pressure relief for deep relaxation: $2,799 Mattress SRP SOFT FIRMMEDIUM HYBRID

© 2018 Tempur Sealy International, Inc.12 • Ultra High Molecular Weight Yarn • Greater Cooling Power • Significantly more Stretch and Durability COOL‐TO‐TOUCH REMOVABLE COVER TEMPUR‐APR® SMARTCLIMATE® DUAL COVER SYSTEM

© 2018 Tempur Sealy International, Inc.14 PROLo PROMid PROHi • Premium Knit Covers with New Cooling Technology • New Constructions to Unlock New Feels Cloud PREMIUM $149 SRP PROMOTIONAL $99 SRP TEMPUR‐Adapt™ Personalized Support and Choice to Win at Retail:

© 2018 Tempur Sealy International, Inc.16 Sealy Hybrid Leveraging the Best of Both Worlds: • Responsive Support of Innerspring with Conforming Comfort of Memory Foam • Sealy’s Coolest Hybrid • Latest in Posturepedic Technology with 20% more Coils in the Center Collections $1,099 Essentials $1,299 $1,599 Performance $1,999 $2,499 Premium

© 2018 Tempur Sealy International, Inc.17 • Streamlined, upgraded range • Supports Tempur‐Pedic, Stearns & Foster, and Sealy EASE $799 TEMPUR‐PEDIC ERGO $1,299 TEMPUR‐PEDIC ERGO EXTEND $1,999 KEY FEATURES: • Head + Foot Adjustment • Wireless Remote • Flat + Zero G Preset • Adjustable Legs • Improved Fabric Durability • Zero Clearance • 650 Weight Capacity KEY FEATURES: • Head + Foot Adjustment • Wireless Remote • 2 Zone Massage • USB Ports on Both Sides • Under Bed Lighting • Anti‐Snore Preset • Flat + (4) Presets • Adjustable Legs • Zero Clearance • Increased Weight Capacity (700 lbs.) KEY FEATURES: • Head + Foot Adjustment • Wireless Remote • Perfect Seat • Deck‐on‐Deck • Passive Pillow Tilt • 2x Massage • USB Ports on Both Sides • Under Bed Lighting • Anti‐Snore Preset • Flat + (4) Presets • Adjustable Legs • Zero Clearance • Increased Weight Capacity (850 lbs.) Power Bases Complements ALL Tempur Sealy Mattresses:

© 2018 Tempur Sealy International, Inc.18 Tempur‐Pedic received the highest numerical score among 7 companies in the J.D. Power 2017 Mattress Satisfaction Report, based on 1,219 total responses which measures the opinions of customers who purchased a mattress in the previous 12 months, surveyed October 2017. Your experiences may vary. Visit jdpower.com. Copyright 2018 Tempur‐Pedic North America, LLC. All rights reserved. POWER UP WITH THE AWARD WINNER #1 in Support, Comfort, and Value

MANAGEMENT COMMENTS

© 2018 Tempur Sealy International, Inc. Expect $12 million of incremental launch expenses in North America, principally in the second and fourth quarters 2018 Comments 2018 20 The Company expects to provide full year financial guidance during the fourth quarter earnings call in February 2018. In advance of this, the Company has provided the following comments on 2018. The Company expects to:  Launch new Tempur‐Pedic and Sealy Hybrid products in North America  Institute price increases on Tempur‐Pedic, Sealy, and Stearns & Foster products in North America; together with continued operational improvements this is expected to offset the anticipated $30 million headwind to EBITDA from commodity cost inflation  Invest significant marketing dollars to promote our brands  Expand its omnichannel strategy to optimize worldwide distribution  After an initial review of the US Tax Reform, it is expected to have a positive impact to our effective tax rate which is estimated to be 26 – 28%  Drive improvements in EBITDA Certain tax assets and liabilities recorded on our balance sheet will be revalued; the net impact of these are expected to be positive in 2017 We are continuing to evaluate the 2017 impact to our financial statements as additional guidance about the new tax law is made available.

© 2018 Tempur Sealy International, Inc. Improving the Sleep of More People Every Night, All Around the World Thank you for your interest in Tempur Sealy International For more information please email: investor.relations@tempursealy.com 21

Forward‐Looking Statements This investor presentation contains "forward‐looking statements," within the meaning of the federal securities laws, which include information concerning one or more of the Company's plans, objectives, goals, strategies, and other information that is not historical information. When used in this presentation, the words "estimates," "expects," "guidance," "anticipates," "projects," "plans," "proposed," "intends," "believes," and variations of such words or similar expressions are intended to identify forward‐looking statements. These forward‐looking statements include, without limitation, statements relating to the Company’s expectations regarding the Company’s plans in 2018 with respect to product launches, price increases and expansion of its omnichannel strategy, expectations regarding the ability to reduce costs in a reduced sales or recession scenario and expectations regarding commodity costs in 2018, and the anticipated ability to offset commodity cost increases, expectations regarding improving EBITDA in 2018 and expectations regarding the anticipated impact in 2017 and 2018 of the recent tax reform legislation. All forward‐ looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. Numerous factors, many of which are beyond the Company's control, could cause actual results to differ materially from those expressed as forward‐looking statements. These risk factors include risks associated with the termination of the Company's relationship with Mattress Firm; risks associated with the Company's capital structure and debt level; general economic, financial and industry conditions, particularly in the retail sector, as well as consumer confidence and the availability of consumer financing; changes in product and channel mix and the impact on the Company's gross margin; changes in interest rates; the impact of the macroeconomic environment in both the U.S. and internationally on the Company's business segments; uncertainties arising from global events; the effects of changes in foreign exchange rates on the Company's reported earnings; consumer acceptance of the Company's products; industry competition; the efficiency and effectiveness of the Company's advertising campaigns and other marketing programs; the Company's ability to increase sales productivity within existing retail accounts and to further penetrate the Company's retail channel, including the timing of opening or expanding within large retail accounts and the timing and success of product launches; the effects of consolidation of retailers on revenues and costs; changes in demand for the Company's products by significant retailer customers; the Company's ability to expand brand awareness, distribution and new products; the Company's ability to continuously improve and expand its product line, maintain efficient, timely and cost‐effective production and delivery of its products, and manage its growth; the effects of strategic investments on the Company's operations; changes in foreign tax rates and changes in tax laws generally, including the ability to utilize tax loss carry forwards; the outcome of various pending tax audits or other tax, regulatory or investigation proceedings and outstanding litigation; changing commodity costs; the effect of future legislative or regulatory changes; and disruptions to the implementation of the Company's strategic priorities and business plan caused by abrupt changes in the Company's senior management team and Board of Directors. There are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from those expressed as forward‐looking statements in this investor presentation, including the risk factors discussed under the heading "Risk Factors" under ITEM 1A of Part 1 of the Company’s Annual Report on Form 10‐K for the year ended December 31, 2016. There may be other factors that may cause the Company's actual results to differ materially from the forward‐looking statements. The Company undertakes no obligation to update any forward‐looking statement to reflect events or circumstances after the date on which such statement is made. Note Regarding Historical Financial Information: In this investor presentation we provide or refer to certain historical information for the Company. For a more detailed discussion of the Company’s financial performance, please refer to the Company’s SEC filings. Note Regarding Trademarks, Trade Names and Service Marks: TEMPUR®, Tempur‐Pedic®, the TEMPUR‐PEDIC & Reclining Figure Design®, TEMPUR‐Adapt™, TEMPUR‐ProAdapt™, TEMPUR‐Cloud®, TEMPUR‐Choice®, TEMPUR‐Weightless®, TEMPUR‐Contour™, TEMPUR‐Rhapsody™, TEMPUR‐Flex®, THE GRANDBED BY TEMPUR‐PEDIC®, TEMPUR‐Simplicity®, TEMPUR‐Ergo®, TEMPUR‐UP™, TEMPUR‐Neck™, TEMPUR‐Symphony™, TEMPUR‐Comfort™, TEMPUR‐Traditional™, TEMPUR‐Home™, SEALY®, SEALY POSTUREPEDIC®, STEARNS & FOSTER®, COCOON by Sealy™ and OPTIMUM® are trademarks, trade names or service marks of Tempur Sealy International, Inc. and/or its subsidiaries. All other trademarks, trade names and service marks in this presentation are the property of the respective owners. 22