Tupperware Brands Corp.
TUP,
-0.28%
stock soared 7.2% in Wednesday premarket trading after the container and consumer products company reported second-quarter earnings that blew past estimates. Net income totaled $35.6 million, or 67 cents per share, down from $63.8 million, or $1.30 per share, last year. Adjusted EPS of 95 cents beat the FactSet consensus for 57 cents. Sales of $464.7 million were up from $397.4 million last year and also ahead of the FactSet consensus for $460.2 million. "We are increasing our investments in talent across operations, digital, finance and market leadership to prepare for future business expansion into new channels," said Miguel Fernandez, chief executive of Tupperware, in a statement. Tupperware stock have plunged 34.5% for the year to date while the S&P 500 index
SPX,
+0.82%
has gained 17.8% for the period.