Tupperware Earnings Jump

It doubles estimates.
Publish date:

Tupperware Brands'

(TUP) - Get Report

third-quarter earnings jumped.

For the third quarter ended Sept. 30, the company earned $13.1 million, or 22 cents a share, in the quarter, compared with $2.6 million, or 4 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 9 cents a share in the most recent quarter.

Sales rose 45.9% from a year ago to $394.9 million.

For the fourth quarter, the manufacturer and distributer of household goods expects to make 64 cents a share to 69 cents a share, or 70 cents a share to 75 cents a share, excluding certain costs, on revenue of $460 million to $470 million. Analysts are expecting earnings of 75 cents a share on revenue of $476.6 million.

For the year, the Orlando, Fla.-based company improved its earnings guidance to $1.53 a share to $1.58 a share on sales of $1.72 billion to $1.73 billion. Adjusted for items, Tupperware expects to earn $1.75 a share to $1.80 a share. Analysts forecast earnings of $1.69 a share, on revenue of $1.74 billion.

"Our two largest beauty businesses, BeautiControl North America and Fuller Cosmeticos in Mexico, contributed solid sales and profit increases over last year," the company said. " Additionally, our Tupperware North America segment had a sales increase for the first time since 2002 signaling traction in the transformation of this business unit."

In Europe, sales increased 4.5% to $120.8 million. In North America, sales were up 10.6% to $40.8 million, helped by higher sales force productivity under the new compensation plan.

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