tempur sealy international inc says supply chain challenges drove a 100 million rise in its thirdquarter backlog “unfortunately due to the tremendous demand for tempurpedic products in north america and domestic supply chain issues the backlog for tempurpedic expanded in the third quarter” said chief executive scott thompson on the thirdquarter earnings call according to factset “we expect to work down this backlog in the fourth quarter and enter 2022 better positioned to fully meet consumers’ demand” he said tempur sealy tpx shares fell 35 in thursday trading after the earlymorning earnings announcement despite what the company said was a record quarter see supplychain concerns causing shoppers to stockpile gifts just in case data shows tempur sealy reported net income of 1774 million or 87 cents per share up from 1214 million or 57 cents per share last year adjusted eps of 88 cents beat the factset consensus for 85 cents sales of 1358 billion were up from 1132 billion last year and also ahead of the factset consensus for 1336 billion tempur sealy is now expecting fullyear net sales growth to exceed 35 compared with 2020 and adjusted eps of between 320 and 330 the factset consensus is for sales of 5012 billion implying 363 growth and eps of 324 “beginning in 2022 we anticipate being able to fully service demand and reengage with those new customers who approached us in the past about bringing on our brands and nonbranded products” thompson said noting some of the strategies that will drive future growth including new technologies and an emphasis on the health and wellness benefits of a good night’s sleep “we also expect to return to a normalized brandmix dynamics as supply chain improves for both tempur and sealy operations” also supplychain disruptions cause some people to hoard again but they’re looking beyond toilet paper “allin management’s improved 2021 expectations guidance moved higher highlight the strength of the company’s portfolio of brands its expanding omnichannel distribution model as well as the benefit the entire bedding furniture category continues to see from a strong housing environment” analysts said cfra on the other hand lowered its stock rating to buy from strong buy and cut its price target to 52 from 58 “we take a cautious view about store deliveries of sealy bedding that may persist into 2022” wrote analyst kenneth leon tempur sealy stock has advanced 671 for the ear to date while the sp 500 index spx has gained 221 for the period