Sealed Air: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sealed Air Corp. (SEE) on Thursday reported second-quarter profit of $114.4 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 71 cents. Earnings, adjusted to account for discontinued operations, came to 64 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The packaging company posted revenue of $1.16 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.15 billion.
Sealed Air expects full-year earnings in the range of $2.45 to $2.55 per share, with revenue expected to be $4.75 billion.
Sealed Air shares have declined 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has risen slightly in the last 12 months.