Sealed Air beats 2Q profit forecasts


CHARLOTTE, N.C. (AP) — Sealed Air Corp. (SEE) on Thursday reported second-quarter net income of $49.6 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 25 cents. Earnings, adjusted for non-recurring costs, were 65 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The packaging company posted revenue of $1.73 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.74 billion.

Sealed Air expects full-year earnings in the range of $2.52 to $2.60 per share, with revenue expected to be $6.85 billion.

Sealed Air shares have increased 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has declined almost 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEE at http://www.zacks.com/ap/SEE

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Keywords: Sealed Air, Earnings Report

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