Sealed Air (SEE) Tops Q1 EPS by 3c, to Acquire Automated Packaging Systems for $510M

Sealed Air (NYSE: SEE) reported Q1 EPS of $0.59, $0.03 better than the analyst estimate of $0.56. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.13 billion.

GUIDANCE:

Sealed Air sees FY2019 EPS of $2.65-$2.75, versus the consensus of $2.74.

• Net Sales are expected to increase 2% as reported and 5% in constant dollars.

Sealed Air to Acquire Automated Packaging Systems

In a separate press release issued today, Sealed Air announced an agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of $510 million on a cash and debt free basis. The acquisition is expected to close early in the third quarter of 2019. Upon the transaction closing, the Company plans to update its 2019 full year outlook on the second quarter earnings conference call tentatively scheduled for July 31, 2019.

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

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