Tupperware’s share in pre-conference trading fell 3% as the food storage company announced earnings for the fourth quarter that exceeded estimates.
Net income was $ 23.8 million, or 45 cents a share, up from $ 21.8 million, or 41 cents a year, a year earlier.
Adjusted earnings per share stood at 38 cents against estimates for 52 cents.
Sales fell to $ 394.9 million from $ 448.3 million a year ago.
During the quarter, the company entered a € 880 million refinancing facility after refinancing, which includes a five-year $ 480 million revolving credit facility and a $ 400 million five-year term loan.
Also during the quarter, Tupperware completed the sale of Avroy Shlain’s business and entered into a final agreement to sell House of Fuller Mexico’s business.
For the year 2022, it expects adjusted gains of $ 2.6-3.2 while converging estimates speak of $ 3.05.
Source: Capital
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