Welcome to our dedicated page for Tupperware Brands Corporation news (Ticker: TUP), a resource for investors and traders seeking the latest updates and insights on Tupperware Brands Corporation stock.
Tupperware Brands Corporation (NYSE: TUP) is a globally recognized consumer products company that specializes in designing, manufacturing, and distributing innovative, functional, and environmentally responsible kitchen and home products. Founded in 1946, Tupperware revolutionized food storage with its signature container that has become a household staple. With a strong commitment to sustainability, Tupperware offers alternatives to single-use items, promoting environmentally friendly lifestyles.
The company's product lineup includes over 8,500 functional design and utility patents, demonstrating its dedication to innovation and quality. Tupperware operates in nearly 70 countries and utilizes a direct selling business model through independent representatives, while also expanding into digital platforms and business-to-business distribution channels.
Tupperware manages its operations across four reportable segments: the Asia Pacific, Europe (including Africa and the Middle East), North America, and South America. This wide reach allows the company to cater to diverse markets and maintain a robust international presence.
Recent achievements include the restructuring of existing debt obligations to improve financial stability and support turnaround efforts. This was complemented by the appointment of Laurie Ann Goldman as President and CEO, bringing extensive experience in leadership and brand building from her previous roles at Spanx and Avon North America.
Tupperware has also been recognized as one of the 2024 Most Trustworthy Companies in America by Newsweek, ranking 13th in the consumer goods category. This accolade highlights the company's commitment to trustworthiness through product innovation, sustainability, and strong leadership.
The company's recent product launch, the Tupperware® WowPop microwave popcorn maker, exemplifies its continuous innovation, offering a convenient and space-saving solution for gourmet popcorn making.
Tupperware is actively working to complete the preparation and filing of its 2023 financial statements, following the engagement of its new auditor, KPMG LLP. Despite receiving a non-compliance notice from the NYSE regarding timely financial filings, the company is diligently working to regain compliance and maintain its stock listing.
Overall, Tupperware Brands Corporation remains a significant player in the consumer goods industry, known for its innovative products, global reach, and steadfast commitment to sustainability and quality.
Tupperware Brands Corporation (NYSE: TUP) reported a 17% increase in net sales for Q2 2021, totaling $464.7 million, with adjusted diluted EPS rising to $0.95 from $0.84 in 2020. The company's debt to EBITDA ratio significantly improved to 2.05 from 4.91 year-over-year. However, net income fell to $35.6 million from $63.8 million due to last year's gains related to debt extinguishment. Key regional performances included North America and South America with sales growth of 26% and 45%, respectively. The company plans to correct financial disclosures in its upcoming Form 10-K/A due to previous accounting inaccuracies.
Tupperware Brands Corporation (NYSE: TUP) will disclose its second quarter 2021 results on August 4, 2021, prior to market opening. A conference call is scheduled for 8:30 a.m. ET the same day. Investors can access the call via webcast through Intrado Digital Media. Tupperware, founded in 1946, is known for its innovative food storage solutions and holds over 8,500 patents for kitchen and home products. The company operates in nearly 70 countries, primarily through independent representatives.
Tupperware Brands Corporation (NYSE: TUP) has announced the prepayment of $58 million of its Term Loan Debt, enhancing its liquidity position as part of its ongoing Turnaround Plan. Additionally, the Board of Directors has authorized a share repurchase program of up to $250 million, reflecting increased confidence in future cash flow generation. This capital allocation strategy aims to reduce outstanding shares, potentially improving shareholder value.
Tupperware Brands Corporation (NYSE: TUP) CFO and COO, Sandra Harris, will participate in a fireside chat at the Oppenheimer 21st Annual Consumer Growth & E-Commerce Conference on June 15, 2021, at 3:45 p.m. ET. The event will be webcast and accessible on Tupperware's official website. Founded in 1946, Tupperware is a global consumer products leader known for its innovative food storage solutions, holding more than 8,500 patents across nearly 80 countries.
Tupperware Brands Corporation (NYSE: TUP) will have CFO and COO Sandra Harris speaking at the Deutsche Bank - dbAccess Global Consumer Conference 2021 on June 10, 2021, at 12:00 p.m. ET. The session will be in a fireside chat format and will be available via webcast. Tupperware is known for its innovative and environmentally conscious consumer products, holding over 8,500 patents across kitchen and home solutions. Operating in nearly 80 countries, Tupperware promotes sustainable alternatives to single-use products.
Tupperware Brands Corporation (NYSE: TUP) will have CFO Sandra Harris participate in a fireside chat at Citi's 2021 Day of Direct Selling on May 27, 2021, at 1:00 p.m. ET. This discussion will be webcasted and is part of the company’s continued efforts to engage with investors and enhance brand visibility. Tupperware is known for its innovative and environmentally responsible products, with a robust direct selling model utilized by approximately 3.2 million independent sales members globally.
Tupperware Brands Corporation (NYSE: TUP) CFO and COO, Sandra Harris, will participate in the Jefferies Virtual Social Selling Summit on May 26, 2021, at 9:30 a.m. ET. The event will feature a fireside chat format and will be webcast for interested parties. Tupperware is a global leader in innovative consumer products, having pioneered modern food storage, with over 8,500 patents and a vast independent sales force in nearly 80 countries. The Company aims to provide sustainable products as an alternative to single-use items.
Tupperware Brands reported a strong financial performance for Q1 2021, with net sales of $460.3 million, a 22% increase year-over-year. The company achieved a net income of $45.3 million compared to a loss of $(7.8) million in 2020. GAAP diluted earnings per share was $0.85, a significant improvement from a loss of $(0.16) in the previous year. EBITDA grew 551% to $88.6 million. The sales force increased in productivity and numbers, aided by digital tools, while a turnaround plan and asset sales improved liquidity, reducing debt and compliance ratios.
Tupperware Brands Corporation announced the expansion of its ECO+ product portfolio on April 7, 2021, introducing Lunch-It® Containers and Sandwich Keepers. This expansion includes a partnership with Tritan™ Renew from Eastman, enabling the use of recycled materials in transparent designs. The ECO+ line, launched in 2019, has already diverted over 100 tons of CO2 emissions by repurposing mixed plastic waste. Tupperware continues to innovate with sustainable materials, reflecting its commitment to reducing waste and promoting a circular economy.
Tupperware Brands Corporation (NYSE: TUP) will announce its first quarter 2021 financial results on May 5, 2021, before the market opens. A conference call is scheduled for 8:30 a.m. ET to discuss the results. Interested parties can access the call via a webcast on the company's website. Tupperware, established in 1946, is known for its innovative kitchen products and holds over 8,500 design patents. The company operates in nearly 80 countries, focusing on environmentally friendly product solutions.
FAQ
What is the current stock price of Tupperware Brands Corporation (TUP)?
What is the market cap of Tupperware Brands Corporation (TUP)?
What does Tupperware Brands Corporation specialize in?
How does Tupperware distribute its products?
In how many countries does Tupperware operate?
Who is the current CEO of Tupperware Brands Corporation?
What recent financial restructuring has Tupperware undertaken?
What recognition did Tupperware receive from Newsweek in 2024?
What is the Tupperware® WowPop microwave popcorn maker?
What are Tupperware's four reportable segments?
What is the significance of Tupperware's 8,500 patents?
How is Tupperware addressing its financial filing delays?
