January 31, 2018 / 12:33 PM / 21 days ago

Tupperware's quarterly profit beats estimates

Jan 31 (Reuters) - Tupperware Brands Corp reported a better-than-expected quarterly profit on Wednesday as strong demand for its storage containers in Latin America helped counter weakness in Europe and India.

The company reported adjusted earnings per share of $1.59 for the fourth quarter, beating analysts’ average estimate of $1.50, according to Thomson Reuters I/B/E/S.

Sales fell 2 percent to $588.6 million.

Tupperware posted a net loss of $326.5 million, or $6.41 per share, largely due to a $375 million charge related to changes in the U.S. tax code.

The company reported a net income of $79 million, or $1.55 per share, a year earlier. (Reporting by Karina Dsouza and Sangameswaran S in Bengaluru; Editing by Sriraj Kalluvila)

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