Tupperware Earnings Beat Estimates, But Sales Fall Short

Tupperware Brands Corp. said Wednesday it had third-quarter net income of $48.8 million, or 96 cents per share, up from $36.2 million, or 72 cents per share, for the same period last year. Adjusted EPS of 87 cents per share beat the FactSet consensus of 80 cents. Sales for the quarter of $521.8 million were up from $521.0 million last year, but missed the FactSet estimate of $530.0 million. The company sees fourth-quarter sales growth between 5% and 7% and earnings per share between $1.34 and $1.39. The FactSet consensus is $1.44. Tupperware shares are inactive in premarket trading, and up 16% for the year so far. The S&P 500 Index is up 4.7% for 2016 to date.