Tupperware Brands (TUP) Tops Q3 EPS by 9c

Tupperware Brands (NYSE: TUP) reported Q3 EPS of $1.03, $0.09 better than the analyst estimate of $0.94. Revenue for the quarter came in at $539.7 million versus the consensus estimate of $538.7 million.

GUIDANCE:

Tupperware Brands sees Q4 2017 EPS of $1.48-$1.53, versus the consensus of $1.53.

Rick Goings, Chairman and CEO, commented, "In the face of significant challenges in externals across many parts of the portfolio, I am pleased to report that we grew local currency sales 2% in the third quarter, which is the mid-point of our July guidance range. China was the stand-out in the quarter, growing 33%. Profitability exceeded expectations with adjusted earnings per share coming in 7-cents above the high-end of our range in local currency before a 1-cent drag from foreign exchange rates versus July guidance and 18% above last year."

Goings continued, "Our restructuring program, much of which relates to improvement actions in Europe, is on track, while we are also focused on strategies to reignite revenue growth in key markets, particularly India and Indonesia. Moving forward, our local management teams, highly experienced in our direct selling fundamentals, will continue to navigate these challenging externals as we evolve the business model to fully leverage our strong aspirational brand, providing an earning opportunity for our 3.2 million global sales force."

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

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