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Wednesday, October 24, 2018

-=Tupperware (TUP) reported earnings on Wed 24 Oct 2018 (b/o)

 Tupperware beats by $0.09, beats on revs; guides Q4 EPS in-line, revs in-line
  • Reports Q3 (Sep) earnings of $0.91 per share, including 5-cent benefit from lower than forecast tax rate, $0.09 better than the S&P Capital IQ Consensus of $0.82; revenues fell 10.0% year/year to $485.8 mln vs the $477.65 mln two analyst estimate.
    • Net sales included a 3-point impact from the 2017 closure of Beauticontrol and the combination of the NaturCare and Tupperware businesses in Japan. Emerging markets**, accounting for 72% of sales, were down 9%
  • Co issues in-line guidance for Q4, sees EPS of $1.31-1.36, excluding non-recurring items, vs. $1.33 S&P Capital IQ Consensus; sees Q4 revs decline of 7-9% Y/Y (implying $536-547.4 mln) vs. $546.59 mln two analyst estimate.
    • For the full year, sales are expected to be down by a low single digit percentage in Europe and North America, down mid-single digit in dollars and local currency in Asia Pacific and down about 20% in dollars and slightly in local currency in South America.

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