Americans, Europeans Used Lot Of Tupperware In Q2, Stock Shines After Earnings

Tupperware Brands Corp TUP reported second-quarter FY21 net sales growth of 17% year-on-year, to $464.7 million, beating the analyst consensus of $460.2 million.
Sales in North America rose 26% Y/Y to $155.8 million, South America increased 45% to $69.9 million, Europe gained 26% to $114.4 million, and Asia pacific sales dropped 7% to $124.6 million.
The gross profit rose 19.7% Y/Y to $316 million, and the gross margin expanded by 160 basis points to 68%.
The operating margin was 16.3%, and operating income for the quarter rose 63.2% to $75.9 million.
The company held $107.3 million in cash and equivalents as of June 26, 2021.
Net cash provided by operating activities for the six months amounted to $1.4 million, versus $45.3 million last year.
Adjusted EBITDA of $95.3 million increased 17% Y/Y.
Adjusted EPS of $0.95 beat the analyst consensus of $0.57.
“We are increasing our investments in talent across operations, digital, finance and market leadership to prepare for future business expansion into new channels,” said CEO Miguel Fernandez.
Price action: TUP shares are trading higher by 7.02% at $22.72 on the last check Wednesday.
Photo by Serg!o via Wikimedia