Tupperware Brands Corp. (TUP) Tops Q1 EPS by 14c; Guides In-Line

Tupperware Brands Corp. (NYSE: TUP) reported Q1 EPS of $1.31, $0.14 better than the analyst estimate of $1.17. Revenue for the quarter came in at $663 million versus the consensus estimate of $650.1 million.

Tupperware Brands Corp. sees Q2 2014 EPS of $1.44-$1.49, versus the consensus of $1.49.

Tupperware Brands Corp. sees FY2014 EPS of $5.66-$5.81, versus the consensus of $5.62.

Rick Goings, Chairman and CEO, commented, "In spite of everything that was going on around the world from challenging macroeconomic environments to extreme weather conditions, bitter winter in some markets to drought in Malaysia, we continued to deliver positive results with first quarter sales at the high end of our guidance and adjusted EPS well above our high-end. Even excluding currency movements compared with our January guidance and a higher than expected increase in sales and profit in Venezuela, we came in with adjusted EPS above the high end of the outlook we provided in January with sales in local currency at the low end of our range. The benefit of our global portfolio of relationship based businesses moderated the impact of external pressure on any one market. Once again, the strength of our emerging markets was able to mitigate the challenges we faced in some of our established markets as we continued to work through the implementation of strategies to drive future growth."

Goings continued, "We invested in many of these emerging markets 15+ years ago and are now recognizing the benefit of those decisions. Our business continues to work especially well in emerging markets, not only because of their large populations, growing middle classes, and desire for international quality brands, but also because of their entrepreneurial spirit. We are both a brand and a channel with premium products sold through our 2.9 million global sales force to external customers."

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

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