Tupperware Brands (NYSE: TUP) reported Q4 EPS of $1.33, in-line with the analyst estimate of $1.33. Revenue for the quarter came in at $505.9 million versus the consensus estimate of $542.5 million.

Tricia Stitzel, President and Chief Executive Officer, commented, "While we achieved our earnings per share expectations in local currency, our sales and segment profit results in the fourth quarter were not what we expected, leading to our desire to accelerate the business transformation to capitalize on our Global Growth Strategy. We continue to operate with a sense of urgency and remain confident that, over time, our initiatives will ensure our major units deliver consistent sales and profit growth and create enhanced value for our shareholders."

Stitzel continued, "To enable a more aggressive investment in our growth strategy initiatives and potentially fund share repurchases, we have made the decision to redeploy approximately $80 million in annual cash flow that had previously been paid out in quarterly dividends. The Board declared a 27 cents per share quarterly dividend, which results in an approximate 3% yield on a full year basis, and places us in the 70th percentile of dividend payors in the S&P 400. The investment into the business is expected to total approximately $100 million through 2022, enabling sales growth and providing direct annualized cost savings of about $50 million when fully implemented."

GUIDANCE:

Tupperware Brands sees Q1 2019 EPS of $0.90-$0.95, versus the consensus of $0.95.

Tupperware Brands sees FY2019 EPS of $4.06-$4.21, versus the consensus of $4.45.

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