Tupperware Brands TUP reported second-quarter earnings of 98 cents per share, which missed the analyst consensus estimate of $1. This is a 16.24% decrease over earnings of $1.17 per share from the same period last year.
The company reported quarterly sales of $475.3 million, which missed the analyst consensus estimate of $491.6 million by 3.32%. This is a 11.23% decrease over sales of $535.4 million the same period last year.
Tupperware cut 2019 adjusted EPS guidance from $4.03-$4.14 to $3.45-$3.60 versus a $3.97 estimate.
"Overall, the business fell short of our expectations in some markets as geopolitical concerns and lower consumer spending headwinds in two of our key markets resulted in a miss of our local currency sales expectations as we worked to adjust our product and promotion mix accordingly," said CEO Tricia Stitzel. "Despite these challenges, we met the low end of our adjusted earnings per share guidance for the quarter after considering two cents worse foreign currency since we provided guidance."
Tupperware Brands shares were down 20.88% at $14.10 in Wednesday’s pre-market session. The stock has a 52-week high of $41.70 and a 52-week low of $17.02.
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Photo courtesy of Tupperware.
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