Stock Monitor: AptarGroup Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 20, 2018 / Active-Investors.com has just released a free earnings report on Tupperware Brands Corp. (NYSE: TUP) ("Tupperware"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=TUP. The Company reported its fourth quarter fiscal 2017 operating and financial results on January 31, 2018. The direct seller of plastic storage containers and cosmetics topped earnings expectations, and provided guidance for the upcoming quarter and full fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for AptarGroup, Inc. (NYSE: ATR), which also belongs to the Consumer Goods sector as the Company Tupperware Brands. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Tupperware Brands most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=TUP
Earnings Highlights and Summary
For Q4 2017, Tupperware's net sales totaled $588.6 million, down 2% compared to $600.9 million in Q4 2016. On a comparable basis, adjusting for the impacts of the 53rd week in FY16 and the closure of Beauticontrol in Q3 2017, the Company's local currency sales were estimated to be up 3% on a y-o-y basis for the reported quarter. Tupperware's revenue numbers fell short of analysts' estimates of $605.4 million.
For Q4 2017, Tupperware reported a GAAP net loss of $326.5 million, or $6.41 loss per diluted share, versus a GAAP net income of $79.0 million, or $1.55 per diluted share, in Q4 2016. The Company's reported quarter results included non-cash, income tax charges related to the enactment of the new US tax reform of $7.36 per share, and pre-tax costs in connection with the Company's re-engineering program of $0.40 per share. Tupperware's adjusted earnings per share (EPS) advanced 10% to $1.59 on a y-o-y basis, and were ahead of Wall Street's estimates of $1.50.
At the end of Q4 2017, Tupperware's total sales force was 3.2 million, up 3%, including a 1-point negative impact from removing the Beauticontrol's sales force. The Company's average active sellers fell 3% in the reported quarter, including a negative 3-point impact related to Beauticontrol.
Segment Results
During Q4 2017, Tupperware's Europe segment's sales fell 3% to $154.7 million on a y-o-y basis. The Europe segment's emerging markets growth dropped 2% on a y-o-y basis. Within the Europe segment, established markets sales fell 4% on a y-o-y basis, partially due to service issues in connection with the pending closure of the French supply chain facility. The Europe segment recorded a profit of $25.1 million in Q4 2017, down 8% on a y-o-y basis.
For Q4 2017, Tupperware's Asia/Pacific segment's sales dropped 2% to $189.6 million on a y-o-y basis. The Asia/Pacific segment's emerging markets sales edged down 1%. The emerging markets sales in China surged 33% on the strength of significantly more members and continued leveraging of the product portfolio, digital technologies, and its 6,100 studios; partially offset by India which was down 19%, reflecting continued challenges with the sales force size, in light of the government's direct selling guidelines, along with a negative 6% impact from the goods and services tax effective; while Indonesia was down 21% from fewer active sellers. The Asia/Pacific segment recorded a profit of $53.6 million, up 6% compared to the year ago same period.
During Q4 2017, Tupperware's North America segment's sales dropped 7% to $129.3 million on a y-o-y basis, including an 8-points impact from Beauticontrol closure. Tupperware United States and Canada sales fell 2% on a y-o-y basis, including a negative timing shift. Tupperware Mexico sales advanced 13%, while fuller Mexico sales were down 1%. The North America segment's profit grew 2% to $17.5 million on a y-o-y basis.
For Q4 2017, Tupperware's South America segment's sales jumped 6% to $115.0 million on a y-o-y basis. Within South America, Brazil sales grew 4% on a y-o-y basis, leveraging a 16% sales force size advantage to overcome challenges in the consumer spending environment. The Company's sales in Argentina were unchanged from the year ago comparable period, while sales grew 16% in local currency in the region, reflecting price increases related to the highly inflationary environment.
Revitalization Program
Under Tupperware's revitalization plan announced in July 2017, the Company expects to incur a total of $100 million to $110 million in pre-tax costs, of which $65 million was recorded in FY17. The Company expects to incur an additional $30 million in FY18. The program is expected to generate about $35 million of annualized benefits once fully implemented.
Outlook
For Q1 2018, Tupperware is forecasting sales to expand between 1% to 3%, and adjusted EPS to be in the range of $1.01 and $1.06.
For FY18, Tupperware is projecting sales to grow between 2% to 4%, and adjusted EPS to be in the band of $5.09 to $5.24.
For FY18, Tupperware is estimating sales to grow by a mid-single digit in dollars in Europe, by a low-single digit in dollars in Asia/Pacific, flat in North America, including a 6% negative impact from the closure of Beauticontrol, and increase by a mid-single digit in dollars in South America.
Dividend Declaration
Tupperware's Board of Directors declared a dividend of $0.68 per share, the same as with the previous quarter. The dividend is payable on April 05, 2018, to shareholders of record as of March 20, 2018.
Stock Performance Snapshot
February 16, 2018 - At Friday's closing bell, Tupperware Brands' stock dropped 1.77%, ending the trading session at $50.95.
Volume traded for the day: 588.10 thousand shares, which was above the 3-month average volume of 581.44 thousand shares.
After last Friday's close, Tupperware Brands' market cap was at $2.64 billion.
The stock has a dividend yield of 5.34%.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry.
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