NEW YORK (TheStreet) -- Tupperware Brands
(TUP - Get Report) shares are tanking, down -8.9% to $77.19 on Wednesday, after the company lowered its full year guidance following worse than expected second quarter earnings results.
The food storage container manufacturer's quarterly profits fell 38% to $47.6 million, or 93 cents per diluted share, from the previous year's mark of $76.3 million, or $1.43 per diluted share.
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Analysts were expecting earnings of $1.47 per share during the quarter.
The company also lowered its full year earnings guidance in turn, down to between $5.40 and $5.50 per diluted share from its previous expectations of between $5.66 and $5.81 per diluted share.
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