Sealed Air (NYSE: SEE) reported second-quarter earnings of 80 cents per share, which beat the analyst consensus estimate of 64 cents by 25%. This is a 25% increase over earnings of 64 cents per share from the same period last year.
The company reported quarterly sales of $1.161 billion, which missed the analyst consensus estimate of $1.17 billion by 0.77%. This is a 0.52% increase over sales of $1.155 billion the same period last year.
Sealed Air raised fiscal year 2019 guidance sales from $4.8 billion to $4.85 billion versus a $4.8 billion estimate, and EPS from $2.65-$2.75 to $2.70-$2.80 versus a $2.73 estimate.
"Our second-quarter results demonstrate our significant progress in executing our Reinvent SEE strategy,” said Ted Doheny, Sealed Air's CEO. "In constant dollars, we delivered 12% Adjusted EBITDA growth on 4% higher sales. Adjusted EPS increased 25% compared to last year, as a result of profitable growth, lower tax expense and share repurchases."
Sealed Air shares are trading at $41.15 in Friday’s pre-market session. The stock has a 52-week high of $47.13 and a 52-week low of $30.22.
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