Tupperware Brands (TUP) Misses Q1 EPS by 40c; Withdraws Guidance

Tupperware Brands (NYSE: TUP) reported Q1 EPS of $0.12, $0.40 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $348.1 million versus the consensus estimate of $356.8 million.

GUIDANCE:

Due to its first quarter 2022 performance, the rapidly changing inflationary environment, uncertainty relating to the full impact of the Russia/Ukraine conflict and the Omicron variant of COVID-19 on its business, as well as the volatility relating to fundamental changes being made to its business, the Company no longer believes it will achieve its full year 2022 targets for diluted adjusted earnings per share and operating cash flow net of investing cash flow, and has therefore decided to withdraw its previously issued guidance. The Company will consider establishing a new outlook at such time that it has improved visibility.

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