RTTNews | Nov 3, 2021 10:45AM EDT

10:45 Wednesday, November 3, 2021 (RTTNews.com) - Florida-based packaging and container manufacturer, Tupperware Brands Corporation (TUP) saw its stock plunge 13% after turning to loss in the third quarter as revenue dipped from last year.

Net loss reported by the company was $86.10 million or $1.63 loss per share, compared to a profit of $34.4 million or $0.65 earnings per share in the same period last year. Excluding items, Tupperware Brands Corp. reported adjusted earnings of $63.3 million or $1.19 per share for the period. On average four analysts polled by Thomson Reuters expected the earnings to be $0.71 per share.

The company reported revenue of $376.9 million in the quarter, down from $423.7 million in the same period last year. Analysts estimated the revenue to be $484.24 million for the quarter.

The stock is currently trading at $20.66, down $2.80 or 11.94% from its previous close at $23.46. The stock opened at $20.75 in the morning and in the 52-week period, the shares have ranged between $18.62 and $38.59 per share.

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