Stock Monitor: Veritiv Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 16, 2018 / If you want access to our free earnings report on Tupperware Brands Corp. (NYSE: TUP) ("Tupperware"), 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 first quarter fiscal 2018 operating and financial results on April 25, 2018. The direct seller of plastic storage containers and cosmetics announced a $200 million share repurchase program. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Veritiv Corporation (NYSE: VRTV), 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:

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Earnings Highlights and Summary

For the thirteen weeks ended March 31, 2018, Tupperware's net sales were $542.6 million, down 2% compared to $554.8 million in Q1 2017. The Company's revenue numbers topped analysts' estimates of $542.4 million.

During Q1 2018, Tupperware's Emerging markets accounted for 70% of the Company's total sales, up 3% on a y-o-y basis. The most significant contribution to the reported quarter growth in local currency sales was in China, along with good results in Argentina, CIS, Fuller Mexico, Malaysia/Singapore, Tupperware Mexico, and Tupperware South Africa, partially offset by India and Indonesia.

For Q1 2018, Tupperware's established market sales decreased 12% on a y-o-y basis, including the impact of the Beauticontrol closure. The local currency sales decline was most significant in France, Germany, and Italy, partially offset by the United States and Canada.

For Q1 2018, Tupperware's GAAP net income and diluted earnings per share (EPS) were $35.7 million and $0.70 versus $47.4 million and $0.93 in Q1 2017, respectively; reflecting the impact of lower sales, a higher tax rate, and pre-tax costs in connection with the Company's re-engineering program that were $5 million, or $0.09, higher in 2018.

Tupperware's adjusted EPS were $0.91, down 10% on a y-o-y basis and $0.10 per share below the Company's low-end of the January guidance range, due to lower sales and $0.06 per share from an increased tax rate in connection with the US Tax Cuts and Jobs Act 2017 (TCJA). The Company's earnings met Wall Street's estimates of $0.91 per share.

At the end of Q1 2018, Tupperware's total sales force was down 2% to 3.1 million on a y-o-y basis, reflecting higher standards to be included in the sales force in the CIS and in the two South African businesses, as well as a 2-point negative impact from removing the Beauticontrol and NaturCare sales forces. The Company's average active sellers were down 8% in the reported quarter, including a negative 3-point impact related to Beauticontrol and NaturCare.

Segment Results

During Q1 2018, Tupperware's Europe segment's sales were down 4% to $143.9 million on a y-o-y basis. Emerging markets sales in Europe increased 19% on a y-o-y basis, mainly in Tupperware South Africa, up 24%, and CIS, up 29%. In Europe, established markets were down 15% on a y-o-y basis, partially due to service issues in connection with the closure of the French supply chain facility, most significantly impacting Germany, down 17%; France, down 32% on a y-o-y basis; and Italy, down 17% compared to the year ago same period.

For Q1 2018, Tupperware's Asia/Pacific segment's sales were down 3% to $172.2 million on a y-o-y basis. Emerging markets sales in Asia/Pacific fell 1% on a y-o-y basis, primarily in Indonesia, down 35% from a smaller, less active sales force. In addition, the Company's sales in India declined 33%, reflecting challenges with the sales force size and manager activity in light of government direct selling guidelines, as well as a negative 6% impact from the goods and services tax which became effective in July 2017. These decreases were partially offset by increased sales in China, up 35% on a y-o-y basis on the strength of significantly more members and continued leveraging of the product portfolio, digital technologies, and its 6,400 studios.

Tupperware's North America segment's sales grew 3% to $135.0 million on a y-o-y basis, including a negative 7-point local currency impact from the Beauticontrol closure. The Company's United States and Canada sales were up 9%, including a positive impact from changes in revenue recognition.

During Q1 2018, Tupperware's South America segment's sales were down 5% to $91.5 million on a y-o-y basis. Brazil sales were down 2%, reflecting a deceleration in sales growth due to customer service issues impacting product availability, including a customs strike, the over-sell of certain items, and quality issues with a third party produced item, as well as on-going challenges in the consumer spending environment.

Share Repurchase Program

Tupperware announced that it intends to repurchase in the open market in upcoming months, an aggregate of $200 million of its shares. The Company considers this repurchase to be exceptional as it continues to target over time a debt-to-EBITDA ratio, as defined under its revolving credit agreement, of 1.75x, and continues to prioritize its quarterly dividend.

Stock Performance Snapshot

May 15, 2018 - At Tuesday's closing bell, Tupperware Brands' stock slightly advanced 0.02%, ending the trading session at $43.95.

Volume traded for the day: 447.90 thousand shares.

Stock performance in the last month ? up 3.53%

After yesterday's close, Tupperware Brands' market cap was at $2.22 billion.

Price to Earnings (P/E) ratio was at 22.96.

The stock has a dividend yield of 6.19%.

The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry.

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