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Tupperware Brands Issues FY22 Guidance

Tupperware Brands Corp. (TUP) said, for full year 2022, the company expects adjusted earnings per share from continuing operations to be between $2.60 to $3.20, and operating cash flow net of investing cash flow to be between $120 million and $160 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.13. Analysts' estimates typically exclude special items.

Fourth quarter adjusted earnings per share from continuing operations was $0.38, compared to $0.22, last year. The company said the increase was primarily driven by a lower tax rate, partially offset by volume loss. Adjusted earnings per share from continuing operations included a one-time tax item of $0.11 per share.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.52, for the quarter.

Income from continuing operations was $19.4 million, compared to $27.8 million, last year. Earnings per share from continuing operations was $0.37, compared to $0.52. The company said the decrease was primarily driven by lower volumes and higher resin costs, partially offset by a lower tax rate.

Total net sales were $394.9 million, a decrease of 12%, or 10% on a constant currency basis, compared to the prior year period. Analysts on average had estimated $370.27 million in revenue.

Shares of Tupperware Brands were down 3% in pre-market trade on Wednesday.

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