Tupperware Brands tops 2Q profit expectations, misses revenue forecasts

MarketsAssociated Press

Tupperware Brands Corp. (TUP) on Wednesday reported second-quarter net income of $62 million.

On a per-share basis, the Orlando, Florida-based company said it had profit of $1.23. Earnings, adjusted for non-recurring gains, were $1.21 per share.

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The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The direct seller of plastic storage containers and cosmetics posted revenue of $588.9 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $589.8 million.

For the current quarter ending in September, Tupperware expects its per-share earnings to range from 69 cents to 74 cents.

The company expects full-year earnings in the range of $4.42 to $4.52 per share.

Tupperware shares have increased 2 percent since the beginning of the year. The stock has decreased 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TUP at http://www.zacks.com/ap/TUP

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Keywords: Tupperware Brands, Earnings Report