Tupperware swings to a profit, shares jump

Tupperware Brands Corp.
TUP,
-2.16%
stock jumped 6.2% in Wednesday premarket trading after the container company reported first-quarter results that beat expectations. Net income totaled $45.3 million, or 85 cents per share, after a loss of $7.8 million, or 16 cents per share, last year. Adjusted EPS of 82 cents was up from 9 cents last year and ahead of the FactSet consensus for 54 cents. Sales of $460.3 million were up from $375.9 million last year and ahead of the FactSet consensus of $434.0 million. “We continue to revitalize the brand through the expanded use of digital tools by our sales force to solve consumer needs,” said Miguel Fernandez, Tupperware chief executive, in a statement. “Additionally, we have made great progress building the team needed to accelerate growth in new channels of distribution so more consumers have access to our environmentally-friendly, reusable products.” Tupperware stock has tumbled nearly 26% over the year to date while the S&P 500 index
SPX,
-0.67%
is up 10.9% for the period.