Tupperware Brands Corp. (TUP) Reports In-Line Q2 EPS, Sales Miss; Guides Below the Street

Tupperware Brands Corp. (NYSE: TUP) reported Q2 EPS of $1.47, in-line with the analyst estimate of $1.47. Revenue for the quarter came in at $674 million versus the consensus estimate of $687.82 million.

Tupperware Brands Corp. sees Q3 2014 EPS of $0.89-$0.94, versus the consensus of $1.07.

Tupperware Brands Corp. sees FY2014 EPS of $5.40-$5.50, versus the consensus of $5.73.

Rick Goings, Chairman and CEO, commented, "While sales results slowed this quarter, we were still able to achieve adjusted E.P.S. in our guidance range. Overall, the business continued to grow, with several markets achieving 20%+ local currency sales increases including Brazil, China, Italy and Turkey. Both businesses in our North America beauty segment also showed significant sequential sales improvement. Having said this, the quarter was challenging in several aspects. We were up against strong comparisons from prior year when we had our strongest quarterly local currency sales growth at 8%, as well as some external and internal challenges, particularly in Germany. However, our 2.9 million sales force members continue to operate their businesses and earn income to help support their families."

Goings continued, "The four pillars of our business model enable us to succeed. By focusing and delivering on these pillars: innovative premium quality products; an entertaining selling situation, or party; compelling sales force compensation; and leveraging of direct-to-consumer fundamentals, I am confident that through the strength of our management teams around the world we will see better future sales and profit growth in spite of the challenges we'll inevitably encounter."

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

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