Tupperware Brands (TUP) Tops Q2 EPS by 6c; Guides In-Line

Tupperware Brands (NYSE: TUP) reported Q2 EPS of $1.16, $0.06 better than the analyst estimate of $1.10. Revenue for the quarter came in at $564.7 million versus the consensus estimate of $559.91 million.

Rick Goings, Chairman and CEO, commented, "Though down 4% with a 7 point hit from exchange rates, we grew sales by 3% in local currency - the high end of our range, with significant contributions from Brazil, China, Malaysia/Singapore and Tupperware Mexico."

Goings continued, "When we look at the success of our large businesses in Brazil, up 22% in dollars and 41% in local currency, and Tupperware Mexico, down 2% in dollars but up 16% in local currency, it is proof of concept that the fundamentals of our business can generate significant returns from our 3.1 million global sales force. This is most significantly the case in the opportunity rich emerging markets, including through leverage from our Vision 20/20 core execution initiatives. At the same time, we're innovating the Tupperware experience with digital tools, right now most visibly in China where we were up 19% in dollars in the quarter and 25% in local currency, to leverage our strength in social selling to further penetrate the end consumer base versus our historical approaches."

GUIDANCE:

Tupperware Brands sees Q3 2016 EPS of $0.77-$0.82, versus the consensus of $0.82.

Tupperware Brands sees FY2016 EPS of $4.25-$4.35, versus the consensus of $4.30.

For earnings history and earnings-related data on Tupperware Brands (TUP) click here.

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