ORLANDO, Fla. _ Tupperware Brands turned strong overseas sales into a 6 percent revenue increase for the first quarter and a boost in profits, the company reported Tuesday.
Tupperware, the Orlando-based maker and direct seller of plastic ware and beauty products, showed revenues of $554.8 million in the first quarter and net income of $47.4 million, up 9 percent over the same period a year before.
Revenues, helped by favorable foreign exchange rates in the period, beat Tupperware's highest expectations for the quarter.
Earnings per share were 93 cents, beating Wall Street estimates by 9 cents.
The company's stock price rose nearly 12 percent Tuesday, closing at $73.52.
"Solid execution of direct selling fundamentals, along with innovative digital strategies across the portfolio, allowed more of our businesses to leverage our strong aspirational brand and provide an earnings opportunity that builds confidence in the 3.2 million women of our global sales force," CEO E.V. "Rick" Goings said in a statement. "With double-digit sales-force size advantages and the wind at our backs in several key businesses, we expect the momentum to continue in 2017, and have raised our sales and earnings per share outlooks accordingly."
In its most mature markets, the U.S. and Canada, Tupperware upped sales by 15 percent year-over-year, even though sales were down for the company's makeup and beauty product lines.
Good sales were helped by a 14 percent increase in the North American sales force, where Tupperware boasts 56,404 active salespeople.
The company's sales growth was strongest in Brazil, where sales were up 27 percent in local currency and 42 percent in U.S. dollars.
