Second quarter sales were $1.27 billion, EBIT was $172 million, and earnings per share were $0.82, all significantly higher than the second quarter of 2020.
When comparing to the pre-pandemic results of second quarter 2019, trade sales grew 5%, adjusted EBITDA was up 9%, and adjusted EBITDA margin improved 60 basis points and adjusted earnings per share increased 12%.
The company, Kayfoam, is located near Dublin and has two manufacturing facilities with combined annual sales of approximately $80 million.
Sales in our Bedding Products segment were up 7% versus the second quarter of 2019, primarily from raw material related selling price increases from inflation in steel, chemicals and nonwoven fabrics.
Sales in our Specialized Products segment were down 9% for the second quarter of 2019 due to lower volume across the segment.
Sales in our Furniture, Flooring & Textile Products segment were up 11% versus the second quarter of 2019, driven by demand strength in home furniture and geo components.
Overall, the fixed cost actions we took last year reduced our second quarter cost by approximately $20 million versus the second quarter of 2019.
In the second quarter, cash from operations was $41 million.
We now anticipate cash flow from operations to approximate $450 million in 2021.
At the end of the quarter, adjusted working capital as a percentage of annualized sales was 12.8%.
During the first half of the year, we brought back $187 million of offshore cash and currently expect to return at least $200 million of cash for the full year.
In May, we increased the quarterly dividend by $0.02 to $0.42 per share.
At an annual indicated dividend of $1.68, the yield is 3.5% based upon Friday's closing price of $48.03, one of the higher yields among the S&P 500 dividend aristocrats.
We ended the quarter with net debt to trailing 12-month EBITDA of 2.32 times and $1.3 billion of total liquidity.
For the full year 2021, we expect capital expenditures of approximately $140 million.
Dividends should approximate $215 million and acquisition spending of approximately $150 million.
2021 sales are now expected to be $4.9 billion to $5.1 billion or up 14% to 19% over 2020, resulting from mid- to high single-digit volume growth, raw material related price increases, currency benefit and approximately 1% growth from acquisitions, net of divestitures.
The increased versus prior guidance of $4.8 billion to $5 billion reflects a combination of higher raw material related price increases and acquisition sales.
2021 earnings per share are now expected to be in the range of $2.86 to $3.06, including $0.16 per share from the real estate gain recognized in the second quarter.
Full year adjusted earnings per share is now expected to be $2.70 to $2.90, with increase versus prior guidance of $2.55 to $2.75, primarily due to higher metal margin.
This guidance also assumes fixed cost savings as a result of actions taken in 2020 to be approximately $70 million.
Based upon this guidance framework, our 2021 full year adjusted EBIT margin range should be 11.4% to 11.6%.
Earnings per share guidance assumes a full year effective tax rate of 23%, depreciation and amortization to approximate $195 million, net interest expense of approximately $75 million, and fully diluted shares of 137 million.

Summary:
Second quarter sales were $1.27 billion, EBIT was $172 million, and earnings per share were $0.82, all significantly higher than the second quarter of 2020.
2021 sales are now expected to be $4.9 billion to $5.1 billion or up 14% to 19% over 2020, resulting from mid- to high single-digit volume growth, raw material related price increases, currency benefit and approximately 1% growth from acquisitions, net of divestitures.
2021 earnings per share are now expected to be in the range of $2.86 to $3.06, including $0.16 per share from the real estate gain recognized in the second quarter.
Full year adjusted earnings per share is now expected to be $2.70 to $2.90, with increase versus prior guidance of $2.55 to $2.75, primarily due to higher metal margin.