Tupperware Shares Jump 12% After Earnings Beat And Improved Outlook

Shares of food container maker Tupperware Brands Corp. surged more than 12% Tuesday, after the company reported stronger-than-expected earnings for the first quarter and raised its outlook for the rest of the year. The stock now stands at its highest level since Sept. 2014. Tupperware posted adjusted per-share earnings of $1.01, or 7 cents above the FactSet consensus. It had sales of $555 million, above the FactSet consensus of $532 million. Chief Executive Rick Goings said sales were driven by 9% growth in emerging markets, led by Brazil, China, Tupperware Mexico and Tupperware South Africa. That helped offset weakness in Indonesia, where sales fell 9%. Shares have gained 39% in 2017, while the S&P 500 has gained 6%.