Tupperware Brands Corp. TUP shares were tumbling 28% in premarket trading Wednesday after the maker of kitchen products posted a surprise loss and disclosed that it has identified misstatements in its historical accounting for income taxes. The company generated a preliminary fourth-quarter loss from continuing operations of $35.2 million, or 79 cents a share, whereas it posted income from continuing operations of $15.4 million, or 32 cents a share, in the year-prior period.
4 million, or 32 cents a share, in the year-prior period. Tupperware logged a 24-cent adjusted loss per share from continuing operations. Analysts tracked by FactSet were expecting 22 cents a share in adjusted earnings, based on three estimates. Sales fell to $313.7 million from $390.1 million, while analysts were modeling $294.3 million, based on two estimates.
Tupperware still exists?
Strong labor market but nobody is taking leftovers to work? Bullish food chains ? 😂