Sleep Number Q2 2021 Earnings Report
Key Takeaways
Sleep Number announced record second-quarter results with a 70% increase in net sales and EPS of $0.88. The company raised its full-year EPS outlook to at least $7.25, driven by strong demand for its 360 smart beds and operational efficiencies.
Year-to-date demand up more than 40% versus 2019, driving 18% average demand growth over the last twelve quarters.
Second-quarter net sales grew 70% (+36% versus 2019) with year-to-date net sales up 39% (+35% versus 2019).
Second-quarter diluted EPS reported at $0.88; year-to-date EPS of $3.44, up 270% versus last year (+262% versus 2019).
Full-year 2021 EPS outlook raised to at least $7.25 versus prior EPS outlook of at least $6.50.
Sleep Number
Sleep Number
Forward Guidance
The company raised its 2021 earnings per diluted share outlook to at least $7.25, which is at least 58% greater than 2020 full-year results excluding the impact of the 53rd week and nearly three times 2019 EPS. The outlook assumes an estimated effective income tax rate of 25% for the balance of the year. The company expects to generate more than $300 million of operating cash flows in 2021 with capital expenditures of approximately $75 million.