Tupperware Brands Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 30, 2017; Provides Earnings Guidance for the First Quarter Ending March 31, 2018 and Full Year Ending December 29, 2018
January 31, 2018 at 12:00 pm
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Tupperware Brands Corporation announced unaudited consolidated earnings results for fourth quarter and full year ended December 30, 2017. For the quarter, the company reported net sales of $588.6 million against $600.9 million a year ago. Operating income was $86.9 million against $104.5 million a year ago. Income before income taxes was $77.2 million against $93.6 million a year ago. Net loss was $326.5 million against net income of $79.0 million a year ago. Diluted loss per share was $6.41 against diluted earnings per share of $1.55 a year ago. Total adjusted EBITDA was $419.1 million. Adjusted diluted earnings per share were $1.59 compared to $1.50 for the same period a year ago.
For the full year, the company reported net sales of $2,255.8 million against $2,213.1 million a year ago. Operating income was $229.1 million against $347 million a year ago. Income before income taxes was $185.1 million against $301.3 million a year ago. Net loss was $265.4 million against net income of $223.6 million a year ago. Diluted loss per share was $5.22 against diluted earnings per share of $4.41 a year ago. Net cash provided by operating activities of $217.0 million against $238.6 million a year ago. Capital expenditures were $72.3 million against $61.6 million a year ago. Adjusted diluted earnings per share were $4.84 compared to $4.45 for the same period a year ago.
For the first quarter of fiscal 2018 ending March 31, 2018, the company expected GAAP EPS of $0.77 to $0.82. The company expects to report USD sales growth versus prior year between 1% and 3% and local currency sales growth versus prior year between negative 3% and negative 1%.
For the full year of fiscal 2018 ending December 29, 2018, the company expected diluted GAAP EPS of $4.50 to $4.65 and diluted non-GAAP EPS of $5.09 to $5.24. Tax rate estimated at 27.8% on a U.S. GAAP basis and 27.0% excluding items. For 2018, the company foresees $75 million of capital expenditures and to come in with cash flow from operating activities, net of investing activities, including that capital expenditure of $170 million to $180 million. The full year outlook includes interest expense of $44 million, about in line with 2017. Income before income taxes expected between $320.6 million and $331.2 million. Net income expected between $231.4 million and $239.2 million. Adjusted net income expected between $261.4 million and $269.2 million. The company expects to report USD sales growth versus prior year between 2% and 4% and local currency sales growth versus prior year to be 2%.
Tupperware Brands Corporation is a global consumer products company. It is engaged in marketing, manufacturing, and selling design-centric preparation, storage, and serving solutions for the kitchen and home through the Tupperware brand name. It is primarily designing functional products to help store, serve, and prepare food. The Company operates its business through four geographic regions: Asia Pacific, Europe (Europe, Africa and the Middle East), North America and South America. Its Tupperware brand product line consists of cookware, knives, microwave products, microfiber textiles, water-filtration-related items and an array of products for on-the-go consumers. Its products include XtremAqua Freezable Bottle, Universal Cookware Set, SuperSonic Choppers and others. It distributes its products in approximately 70 countries through independent representatives around the world. It has more than 8,500 functional design and utility patents for solution-oriented kitchen and home products.
Tupperware Brands Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 30, 2017; Provides Earnings Guidance for the First Quarter Ending March 31, 2018 and Full Year Ending December 29, 2018