Tupperware Brands (TUP) Tops Q2 EPS by 1c, Offers Outlook

Tupperware Brands (NYSE: TUP) reported Q2 EPS of $1.21, $0.01 better than the analyst estimate of $1.20. Revenue for the quarter came in at $572.9 million versus the consensus estimate of $580.22 million.

GUIDANCE:

Tupperware Brands sees Q3 2017 EPS of $0.91-$0.96, versus the consensus of $0.98.

2017 Outlook

Based on current business trends and foreign currency rates, the Company's third quarter and fiscal 2017 full year outlook is provided below.

Company Level

(a) Impact of changes in foreign currency versus prior year is updated monthly and posted at: Tupperware Brands Foreign Exchange Translation Impact Update.

Full Year 2017

• Fiscal year 2017 includes 52 weeks, while 2016 had 53 weeks. The Company estimates this will have a negative 1 percentage point impact on the year-over-year sales comparison in 2017 versus 2016. The fourth quarter of 2016 had 14 weeks, while the fourth quarter of 2017 will have 13 weeks. In addition, the impact on the full year 2017 sales comparison from the decision to wind-down the Beauticontrol business is estimated to be 0.5 percentage points.
• Tax rate estimated at 39.8% on a U.S. GAAP basis and 25.5% excluding items.
• In its future earnings releases, along with exit costs incurred, the Company will include the results of Beauticontrol from August onward as an "item" in reporting its non-GAAP information.

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

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