Tempur Sealy International, Inc. (NYSE:TPX) Q1 2024 Earnings Call Transcript

Bhaskar Rao: And Brad, as it relates to commodities and raw material assumptions, largely speaking, they’re consistent with how we entered the quarter. Just as a reminder, what we’re thinking is on a consolidated basis, gross margins would be up for the full year, call it, about 150-ish basis points and about, let’s call it, 50 or so basis points would come from that from commodities. When you think about what happened — and that remains as we sit here today. As you think about commodities overall, and when I think about commodities, it’s everything from logistics to ocean cargo to traditional lumber, oil and whatnot or the oil derivatives, there’s been some puts and takes in that portfolio. However, largely speaking, it remains consistent when you think about it at the aggregate level.

Operator: Thank you. It appears that we have no further questions at this time. I will now turn the program over to Scott Thompson for closing remarks.

Scott Thompson: Thank you, operator. To over 12,000 employees around the world, thank you for what you do every day to make the company successful. To our retail partners, thank you for your outstanding representation of our brands. To our shareholders and lenders, thank you for your confidence in the company’s leadership and its Board of Directors. This ends the call today, operator. Thank you.

Operator: Thank you. This does conclude today’s program. Thank you for your participation. You may disconnect at any time.