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UPDATE 1-Tupperware Q3 profit beats Street, raises FY EPS view
October 19, 2010 / 9:37 PM / 7 years ago

UPDATE 1-Tupperware Q3 profit beats Street, raises FY EPS view

* Q3 adj EPS $0.64 vs est $0.58

* Q3 rev up 2 pct at $523.2 mln, lags Street

* Sees FY10 adj EPS at $3.60-$3.65, beats Street

Oct 19 (Reuters) - Tupperware Brands Corp (TUP.N) posted a quarterly profit that beat Wall Street estimates, helped by strong sales in Austria, France and emerging markets, and raised its fiscal 2010 earnings outlook above expectations.

The company, known for its food storage containers, said net income for the third quarter was $39.9 million, or 62 cents a share, compared with net income of $32.3 million, or 50 cents a share, a year ago.

Excluding items, the company earned 64 cents a share.

For the July-September quarter, revenue for the company, which also sells personal care products including NaturCare and Fuller Cosmetics, rose 2 percent to $523.2 million.

“Our emerging markets comprised 59 percent of sales in the quarter, and delivered a 9 percent sales increase,” Chief Executive Rick Goings said in a statement.

Analysts on average were expecting earnings 58 cents per share on revenue of $525.2 million, according to Thomson Reuters I/B/E/S.

For 2010, the company now expects to earn $3.60-$3.65 a share compared with its earlier estimate of $3.51-$3.61 a share.

Analysts on average expect earnings of $3.57 a share. [ID:nASA00UJH]

The Orlando, Florida-based company’s shares, which rose over 15 percent in value in the last three months, closed at $48.62 Tuesday on the New York Stock Exchange. (Reporting by Shobhana Chadha in Bangalore; Editing by Don Sebastian)

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