Tupperware
May 4, 2022
Tupperware Brands said first-quarter 2022 net sales from continuing operations were 348.1 million dollars, down 16 percent year over year, or 14 percent in constant currency. Income from continuing operations was 2.5 million dollars, or 5 cents per diluted share. Adjusted diluted earnings per share were 12 cents. Adjusted EBITDA was 28.7 million dollars.
President and chief executive Miguel Fernandez said results missed expectations because of the Russia-Ukraine conflict, China COVID lockdowns, execution and service issues, and inflation ahead of price increases. The company withdrew its previously issued full-year 2022 guidance. It also said it expected to close the House of Fuller Mexico sale in May and was exploring sales of Nutrimetics and Nuvo.