Tupperware Brands Corp
by Michael VodickaMay 11, 2011 | Comments : 0 Recommended this article: (0)
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Tupperware Brands sells a wide range of Tupperware products through various sales channels. The company was founded in 1996 and has a market cap of $4.12 billion.
We got an update on TUP's business on April 27 when the company reported strong Q1 results that came in ahead of expectations.
Revenue for the period was up 14% from last year to $636 million. Earnings also came in strong at 90 cents, 6% ahead of the Zacks Consensus Estimate for the company's third consecutive surprise.
Tupperware noted that it continues to see big gains in emerging markets, which now comprise 57% of its total revenue, led by Brazil, India and Indonesia. Its North American sales were up a solid 10%, providing a nice mix of geographic diversity.
The company took advantage of the good quarter to strengthen its balance sheet, with cash and short-term investments up $81 million from last year to $176 million against a total debt load of $430 million.
Analysts were quick to raise estimates on the good quarter, with the current year adding 19 cents to $4.53 while the next-year estimate also gained 19 cents, climbing to $5.10, a bullish 12% growth projection.
But in spite of the gains, the valuation picture still looks solid, with a forward P/E of 14X in line with its peers.
On the chart, shares spiked into a new all-time high on the good quarter, take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the Zacks Momentum Trader Service.
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