Sealed Air (SEE) Reports In-Line Q2 EPS; Sees FY EPS at High End of Guidance

Sealed Air (NYSE: SEE) reported Q2 EPS of $0.65, in-line with the analyst estimate of $0.65. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.74 billion.

GUIDANCE:

Sealed Air sees FY2016 EPS at high end of $2.52-$2.60, versus the consensus of $2.59. Sealed Air sees FY2016 revenue of $6.85 billion, versus the consensus of $6.91 billion.

Commenting on these results, Jerome A. Peribere, President and Chief Executive Officer, said, “In the second quarter, we delivered $1.7 billion in net sales by leveraging growth opportunities in targeted regions and end markets, offsetting other areas that were challenged by economic uncertainty. These efforts, coupled with our continued focus on new product adoption and operational disciplines, resulted in solid margin performance in our three core divisions. We are delivering on our 2016 objectives, and expect stronger performance in the second half of the year. This performance will be primarily driven by increased demand for our core product portfolio, recently introduced innovations, and accelerated growth in the global protein market and e-Commerce sector. We also anticipate less currency headwinds than previously forecasted.”

For earnings history and earnings-related data on Sealed Air (SEE) click here.

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