Bulletin
Investor Alert

Market Pulse Archives

Oct. 28, 2020, 7:20 a.m. EDT

Tupperware's stock soars after big profit and revenue beats

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tupperware Brands Corp. (TUP)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Tupperware Brands Corp. /zigman2/quotes/209009040/composite TUP -2.02% shot up 9.9% in premarket trading Wednesday, after food storage products company reported a third-quarter profit and sales that rose well above expectations, as more consumers cook at home and store leftovers amid the COVID-19 pandemic. Net income rose to $34.4 million, or 65 cents a share, from $7.8 million, or 16 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share increased to $1.20 from $36 cents, compared with the FactSet consensus of 37 cents. Sales rose 14% to $477.2 million, beating the FactSet consensus of $362.8 million. North America sales surged 42%, Europe sales grew 23% and South America sales increased 4%, while Asia Pacific sales fell 6%. The company said it remains in compliance with its financial covenants. Tupperware Chief Executive Miguel Fernandez said the revenue growth reflects a "rapid adoption of digital tools by our sales force to combat the social restrictions surrounding COVID-19, and the increased consumer demand for our innovative and environmentally friendly products, as more consumers cook at home and are concerned with food safety and storage." The stock has more than doubled (up 121.4%) over the past three months through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 5.4%.

/zigman2/quotes/209009040/composite
US : U.S.: NYSE
$ 35.94
-0.74 -2.02%
Volume: 706,581
Nov. 25, 2020 7:00p
P/E Ratio
112.42
Dividend Yield
0.00%
Market Cap
$1.77 billion
Rev. per Employee
$159,106
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,629.65
-5.76 -0.16%
Volume: 2.32B
Nov. 25, 2020 5:33p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.