Shares of Tupperware Brands Corporation [NYSE: TUP] surged +7.16% at the time of writing on Wednesday. The strong performance of the firm has highlighted the positive sentiments of the investors after the firm shared the operating results for the Q2 completed June 26, 2021. The firm has reported Net sales of $464.7 million rose 17% as compared to 2020 it rose 10% in local currency.
TUP disclosed that its GAAP diluted earnings per share stood at $0.67 compared to $1.30 for Q2 2020, which consist of $0.46 of non-recurring items in the previous year. Its Adjusted diluted earnings per share stood at $0.95 compared to $0.84 in 2020. TUP revealed that its Adjusted EBITDA rose 17% to $95.3 million compared to $81.3 million in the Q2 of 2020. On the other hand, its Debt to EBITDA ratio stood 2.05 compared to 4.91 in the Q2 of 2020.
Furthermore, its Q2 net sales reached $464.7 million. It represents a rise of 17%, and 10% in local currency when comparing Q2 of 2021 and 2020. The average active sales force rose 24% and productivity was dropped 11%. The firm has shared the segment-wise result of Q2 completed June 26, 2021.
The firm has revealed that in the Asia Pacific its Net sales reached $124.6 million. Its North America Net sales reached $155.8 million, rose 26% and local currency sales rose 17% from Q2 of 2020. If we look at the South America Net sales it has recorded the net sales of $69.9 million, soar 45% and local currency sales rose 48% from Q2 of 2020. Lastly, in Europe, the firm has recorded Net sales of $114.4 million. It represents an increase of 26% and its local currency sales surged 17% from Q2 of 2020.