Tupperware Brands Corporation (TUP) reported adjusted fourth quarter earnings of $1.38 per share on $655 million in revenue, topping the consensus estimates for both profit ($1.24 per share) and sales ($644 million). The company also gave impressive guidance, sending share up by more than 14% in early trading.
Tupperware expects an adjusted profit of $4.23 to $4.33 per share in 2011, with sales increasing by 8% to 10%. Wall Street currently projects earnings of just $4.15 per share on $2.47 billion in revenue (an increase of 7.4%).
The company also elaborated a bit on its dividend policy, saying it plans to evaluate its rate in the first quarter of each year, beginning in 2012, with increases occurring in line with profit growth. I think it’s safe to assume we won’t see another dividend hike out of Tupperware until early next year, which isn’t too big of a disappointment, considering the company gave shareholders a 20% raise just last November.
Shares of TUP rocketed as high as $52.25 (+14.2%) in early trading, where they carry a 2.30% dividend yield.