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Tupperware Brands (TUP) Misses Q3 EPS by 1c; Guides Below the Street

October 22, 2014 7:11 AM

Tupperware Brands (NYSE: TUP) reported Q3 EPS of $0.90, $0.01 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $589 million versus the consensus estimate of $590.16 million.

Tupperware Brands sees Q4 2014 EPS of $1.55-$1.60, versus the consensus of $1.70.

Tupperware Brands sees FY2014 EPS of $5.21-$5.26, versus the consensus of $5.39.

Rick Goings, Chairman and CEO, commented, "Sales grew 4% this quarter in local currency with double-digit growth in Brazil, China, and Indonesia along with sequential improvements in CIS and Germany. This gave us an overall improvement from our 3% local currency sales increase in the second quarter. Our emerging markets grew 8% in local currency. While this was down from the double-digit growth we have seen in the past, we expect to get back to that trend line as early as the fourth quarter. We continue to implement initiatives for improvement in our challenged units and have seen positive trend changes in the underlying performance indicators in many of these."

Goings continued, "Our business model, with its four pillars: innovative premium products; an entertaining selling situation, or party; a compelling sales force earning opportunity; and leveraging of direct-to-consumer fundamentals, driven by our 2.9 million global sales force, is well positioned to deliver sales and profit growth."

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

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Earnings Guidance Management Comments