Tupperware Beats Profit Expectations Buy Misses On Sales, To Wind Down Beauticontrol Business

By Tomi Kilgore Markets MarketWatch Pulse

Tupperware Brands Corp. reported a second-quarter net loss of $17.7 million, or 34 cents a share, after a profit of $52.4 million, or $1.03 a year ago. Excluding non-recurring items, such as restructuring charges, adjusted earnings per share came to $1.21, beating the FactSet consensus of $1.20. Revenue rose to $572.9 million from $564.7 million, but missed the FactSet consensus of $578.6 million, as growth in Tupperware North America and Brazil offset declines in Europe, Asia Pacific and Beauty North America. Separately, the food storage container maker that it was "unsuccessful" in finding a buyer for its Beauticontrol business, so it decided it wind down the business over the next 60 to 90 days. Looking ahead, the company expects third-quarter adjusted EPS of 91 cents to 96 cents, compared with the FactSet consensus of 98 cents, while the 2017 outlook of $4.66 to $4.76 surrounds the FactSet consensus of $4.70. The stock, which was still inactive in premarket trade, has soared 32.3% year to date, while the S&P 500 has gained 10.6%.

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