NEW YORK (TheStreet) -- Tupperware Brands (TUP) tumbled after reporting fourth-quarter results below expectations and issuing weak guidance for fiscal 2014. Shares had taken off 5% to $79.55 by late morning.
The homewares direct seller recorded net income of $1.81 a share for the December-ended quarter, three cents short of Thomson Reuters' expectations. Revenue of $717 million was $10.77 million under consensus.
Over fiscal 2013, full-year net income of $1.71 a share fell far below the $5.48 a share expected by analysts. Revenue of $2.67 billion was 3.4% higher than a year earlier but missed consensus by $11 million.
To the year ahead, the company expects to see sales decline 1% to 3% over the first quarter, with growth flat to 2% higher for the full year. Earnings are expected in the range of $5.51 to $5.56 a share, below expectations of $6.02 a share.
"As we look to 2014, we remain focused on providing a good return to our investors, while continuing to invest at appropriate levels in our business units," said CEO Rick Goings in a statement.
Tupperware's board approved a quarterly dividend of 68 cents a share, a 9.7% increase on the prior dividend, payable on April 4 to shareholders of record by March 19.
TheStreet Ratings team rates TUPPERWARE BRANDS CORP as a Buy with a ratings score of B+. The team has this to say about their recommendation:
"We rate TUPPERWARE BRANDS CORP (TUP) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
- You can view the full analysis from the report here: TUP Ratings Report