Tupperware Withdraws Its Outlook. There’s Too Much ‘Operational Uncertainty.’

GENLI.ORG

Shares of Tupperware Brands plummeted Wednesday after the company posted an earnings miss and withdrew guidance for the year.

Tupperware’s (ticker: TUP) net sales for the quarter decreased 16% year over year to $348.1 million, below estimates calling for $357 million, according to FactSet. Adjusted earnings per share were 12 cents, well under the forecast for 52 cents. The company attributed the weak performance to Covid-19 lockdowns in China, rising input costs, and sales impacts related to the war in Ukraine.

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