Sealed Air (SEE) Q3 Earnings In-Line, Revenues Top Estimates
Sealed Air Corporation SEE is a major specialty packaging service provider catering to a diverse set of end markets. The company operates in the United States as well as globally with packaging and performance-based materials and equipment systems serving food, medical, and an array of industrial and consumer.
Sealed Air will benefit from enhanced demand for its core product portfolio and the recently introduced innovations. Accelerated growth in the global protein market along with the eCommerce sector also remains tailwinds. However, lower volumes in Latin America and EMEA and higher resin costs may dent margins.
Investors have been thus eagerly waiting for the third quarter earnings release of this Elmwood Park, N.J. based packaging company. Let’s have a quick look at its earnings results.
Estimate Trend & Surprise History: The investors should note that the earnings estimate for Sealed Air for the third quarter has remained stable over the past month. The Zacks Consensus Estimate is currently pegged at 46 cents.
As regards earnings surprise, Sealed has outpaced the Zacks Consensus Estimate in two of the past four quarters. The company has an average negative earnings surprise of 1.64%.
Sealed Air Corporation Price and EPS Surprise
Sealed Air Corporation Price and EPS Surprise | Sealed Air Corporation Quote
Earnings: Sealed Air reported third quarter adjusted earnings per share (EPS) of 46 cents, which came in line with the Zacks Consensus Estimate.
Revenue: Sealed Air however beat on revenues. It reported third quarter revenues of $1.13 billion, ahead of the Zacks Consensus Estimate of $1.11 billion.
Key Developments to Note: Sealed Air raised its 2017 sales guidance to $4.4 billion from the previous expectation of $4.3 billion. Adjusted EBITDA is estimated to be approximately $830 million compared to the previous range of $825 million to $835 million Adjusted EPS guidance has been maintained in the range of $1.75-$1.80 for 2017.
Zacks Rank: Currently Sealed Air has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Market Reaction: Shares remained flat in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Sealed Air earnings report later!
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