Tupperware Brands (TUP) Tops Q2 EPS by 38c

Tupperware Brands (NYSE: TUP) reported Q2 EPS of $0.95, $0.38 better than the analyst estimate of $0.57. Revenue for the quarter came in at $464.7 million versus the consensus estimate of $460.2 million.

"The double digit sales growth reflects our initial investments and numerous initiatives to create long-term sustainable growth in our core direct selling business," said Miguel Fernandez, President and Chief Executive Officer of Tupperware Brands. "We are increasing our investments in talent across operations, digital, finance and market leadership to prepare for future business expansion into new channels."

"We continue to successfully implement our Turnaround Plan," said Sandra Harris, Tupperware Brands' Chief Financial Officer and Chief Operating Officer. "Sales growth coupled with delivering profit that continues to reflect our rightsizing efforts and lowering our debt and improving EBITDA resulting in a leverage ratio of 2.05 are all further evidence that it is working."

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