Tupperware Brands Sees Q1 Earnings Below View; FY17 Profit In-line - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, Tupperware Brands Corp. (TUP) provided its financial outlook for the first quarter and fiscal 2017. The company forecast adjusted earnings for the first quarter below analysts' estimates and fiscal 2017 earnings in line with their expectations.

For the first quarter, Tupperware forecast reported earnings of $0.84 to $0.89 per share, adjusted earnings of $0.89 to $0.94 per share, and sales growth in U.S. dollars of flat to 2 percent.

On average, analysts polled by Thomson Reuters expect the company to earn $0.96 per share for the quarter on revenues of $527.74 million. Analysts' estimates typically exclude special items.

For fiscal 2017, the company forecast reported earnings of $4.26 to $4.36 per share, adjusted earnings of $4.47 to $4.57 per share, and sales growth in U.S. dollars of flat to 2 percent.

The Street expects earnings of $4.48 per share on revenues of $2.22 billion.

In addition, the company's board of directors also extended the existing $2 billion open market share repurchase authorization to February 1, 2020. There is $713 million available under this authorization.