Why Tupperware Brands Stock Sank as Much as 28% in the First Hour of Trading Today
Shares of Tupperware Brands (NYSE: TUP) fell dramatically in the first hour of trading on March 10, losing as much as 28% at one point. The driving force here was the company's earnings announcement.
Tupperware, which makes the iconic plasticware of the same name, posted a revenue increase of 17% year over year in the fourth quarter of 2020. Adjusted earnings came in at $0.14 versus a loss of $0.63 in the same quarter of 2019. That's pretty positive, but investors were still not pleased. That's because despite beating Wall Street consensus on the top line, the company fell well short of expectation on the bottom line, where analysts had been calling for a profit of $0.71 per share.
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Source Fool.com
