Tupperware Brands (TUP) Tops Q4 EPS by 18c
Tupperware Brands (NYSE: TUP) reported Q4 EPS of $1.72, $0.18 better than the analyst estimate of $1.54. Revenue for the quarter came in at $680 million versus the consensus estimate of $675.4 million.
Rick Goings, Chairman and CEO, commented, "Sales grew 6% this quarter in local currency with particularly robust growth in Argentina, Brazil, China and Indonesia, continuing positive momentum from the third quarter. Our emerging markets were up 10% in local currency and our established markets, while down 1% in local currency, showed sequential improvement of 3 percentage points from the third quarter. On top of good sales, I am proud of the way we were able to improve our value chain to close the quarter with $1.72 in earnings per share excluding items, higher than our guidance by 12 cents in spite of a 4 cent hit compared with our October guidance from foreign exchange headwinds."
Goings continued, "While there continue to be challenging external forces, this quarter's results demonstrated we can and will continue to navigate through the environments we find ourselves in, with our strong global management team using our growth levers: innovative and demonstrable premium products; an entertaining selling situation and direct-to-consumer fundamentals driven through the relationships of our 2.9 million sales force world-wide."
2015 Outlook (Unaudited)
Based on current business trends and foreign currency rates, the Company's first quarter and fiscal 2015 full year guidance is provided below.
Company Level
13 Weeks Ended | 13 Weeks | 52 Weeks Ended | 52 Weeks | ||||||||||||||||||||||
Mar 28, 2015 | Ended | Dec 26, 2015 | Ended | ||||||||||||||||||||||
Low | High | Mar 29, 2014 | Low | High | Dec 27, 2014 | ||||||||||||||||||||
USD Sales Growth vs Prior Year | (12) | % | (10) | % | — | % | (6) | % | (4) | % | (2) | % | |||||||||||||
GAAP EPS | 0.89 | $0.94 | $1.02 | $4.58 | $4.68 | $4.20 | |||||||||||||||||||
GAAP Pre-Tax ROS | 10.2 | % | 10.5 | % | 10.7 | % | 12.6 | % | 12.6 | % | 11.4 | % | |||||||||||||
Local Currency+ Sales Growth vs Prior Year | 2 | % | 4 | % | 7 | % | 4 | % | 6 | % | 5 | % | |||||||||||||
EPS Excluding Items* | $0.98 | $1.03 | $1.31 | $4.90 | $5.00 | $5.38 | |||||||||||||||||||
Pre-Tax ROS Excluding Items* | 11.3 | % | 11.6 | % | 13.5 | % | 13.5 | % | 13.5 | % | 13.9 | % | |||||||||||||
FX Impact on EPS Comparison (a) | ($0.29) | ($0.29) | ($0.83) | ($0.83) | |||||||||||||||||||||
For earnings history and earnings-related data on Tupperware Brands (TUP) click here.