Tupperware Brands Corp. (TUP—NYSE) said Wednesday that second-quarter profit had exceeded expectations, despite revenue figures that dipped below Wall Street estimates.
Net income for the second quarter was $62 million, up 30 percent from a year ago. On a per-share basis, the Orlando, Florida-based company reported a profit of $1.23, versus 93 cents in the prior year. On average, analysts had forecasted earnings of $1.17 per share. Adjusted earnings were $1.21, down 18 percent in dollars but up 13 percent in local currency.
Quarterly revenue totaled $588.9 million, coming in just under the $589.8 million estimated by analysts. Emerging markets accounted for 67 percent of sales, with strong performances from Brazil, China, the Middle East and North Africa.
The kitchenware and cosmetics seller said its salesforce increased 3 percent versus a year ago to 3 million. In the U.S. and Canada, Tupperware recorded a 14 percent increase in new consultants.
For the current quarter, the company forecasts earnings of 69 cents to 74 cents per share. Full-year earnings expectations are in the range of $4.42 to $4.52 per share.
