Tupperware Brands Corporation (TUP) Wednesday posted near flat income for the first quarter in spite of a sales increase. Earnings per share however, were higher than the prior-year period while the adjusted earnings per share beat Street estimate. The company further provided guidance for the coming quarter and full fiscal year.
For the period the firm posted net income of $58.2 million, nearly flat with $58.3 million last year. On a per share basis, earnings for the quarter climbed to $1.06 form $1.02 last year.
On an adjusted basis, earnings for the period were $1.18 per share. Ten analysts on average polled by Thomson Reuters estimated earnings per share of $1.13 for the quarter. Analyst estimates typically exclude one-time items.
Net sales for the period rose to $662.9 million from $639.5 million last year while analysts were looking for revenue of $662.93 million.
Looking forward, the company said it sees second quarter earnings per share of $1.36 to $1.41 and adjusted earnings per share of $1.41 to $1.46 while revenue growth is anticipated to be 6 to 8 percent. Analysts are currently looking for earnings of $1.47 on revenue of $681.45 million.
For the full-year, the firm expects earnings per share of $5.30 to $5.45 and adjusted earnings per share of $5.52 to $5.67 while the revenue growth is expected to be 5 to 7 percent. Street expects earnings per share of $5.70 on revenue of $2.73 billion for the full-year.
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