More on Tupperware's Q3

|About: Tupperware Brands Corpo... (TUP)|By:, SA News Editor

Tupperware (NYSE:TUP) reports net sales rose 2% in local currency in Q3.

Emerging markets increased 5% in local currency and accounted for 71% of sales.

Established markets declined 5% in local currency.

Segment sales: Europe: $107.3M (-10%, -7% in local currency); Asia Pacific: $188.9M (-1%, -4% in local currency); Tupperware North America: $88.1M (+4%, +9% in local currency ); Beauty North America: $43.2M (-19%, -11% in local currency); South America: $94.3M (+30%, +33% in local currency).

Gross margin rate improved 80 bps to 67.7%.

Operating margin rate increased 560 bps to 17.4%.

Total sales force +2% Y/Y to 3.1M.

Q4 Guidance: Sales: +5% to +7%; Tax rate: 21%; Net income: $68.4M to $71M. Adjusted net income: $69.7M to $72.3M; Diluted EPS: $1.34 to $1.39; Adjusted EPS: $1.37 to $1.42 Average number of diluted shares: 51M.

FY2016 Guidance: Sales: -2%; GAAP Tax rate: 28%; Net income: $213M to $215.6M. Adjusted net income:$218.4M to $221M; Diluted EPS: $4.20 to $4.25; Adjusted EPS: $4.30 to $4.35; Average number of diluted shares: 50.8M.