Tupperware Brands Q2 Results Down, But Top Consensus

Tupperware Brands Corp. (TUP) reported second-quarter income from continuing operations of $4.5 million or $0.09 per share compared to $31.9 million or $0.60 per share last year.

Adjusted earnings per share from continuing operations was $0.41, as compared to $0.90 for the prior year period. The decrease was driven by lower volumes, and higher resin and logistics costs, partially offset by lower promotional expense and lower interest expense.

Net income was $1.2 million or $0.02 per share versus $35.6 million or $0.67 per share in the prior year period.

Net sales for the quarter amounted to $340.4 million, 18% lower than the previous year's $416.6 million.

Analysts polled by Thomson Reuters expected earnings of $0.25 per share on revenue of $321.37 million for the quarter. Analysts' estimate typically exclude certain special items.

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