Sealed Air: 3Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sealed Air Corp. (SEE) on Thursday reported third-quarter profit of $79 million.
The Charlotte, North Carolina-based company said it had profit of 50 cents per share. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The packaging company posted revenue of $1.19 billion in the period, matching Street forecasts.
Sealed Air expects full-year earnings in the range of $2.40 to $2.45 per share, with revenue expected to be $4.7 billion.
Sealed Air shares have dropped 34 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1 percent. The stock has fallen 27 percent in the last 12 months.