Why Tupperware Brands Stock Fell by as Much as 16% Today
Shares of iconic plasticware maker Tupperware Brands (NYSE: TUP) were down by almost 16% as of 2:25 p.m Wednesday as traders responded to the company's third-quarter earnings update, which hit the wires before the market opened.
It requires a deeper look into Tupperware's quarterly results to understand why investors were so downbeat about them. From a top-level view, revenues were off by 11% year over year, which isn't great. However, adjusted earnings of $1.19 per share were $0.07 per share higher than they were in the year-ago period. At first glance, that suggests a mixed picture, until you dig down a little bit more.
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Source Fool.com