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Sealed Air Corporation (SEE - Free Report) 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 had cautioned that its second-quarter results will be down on a year-over-year basis primarily due to formula pricing in Food Care. Overall, unfavorable foreign currency translation, increase in restructuring costs and enhanced debt levels remain headwinds for the company. Nevertheless, the company will benefit from acquisitions, focus on growth opportunities, effective cost management and savings from restructuring.
Investors have been thus eagerly waiting for the second 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: Investors should note that the earnings estimate for Sealed Air for the second quarter has moved south over the past month and currently pegged at 64 cents.
As regards earnings surprise, Sealed Air has outpaced the Zacks Consensus Estimate in the past four quarters, with an average beat of 22.52%.
Earnings: Sealed Air beat on earnings by a margin of 2%. Our consensus called for earnings per share (EPS) of 64 cents, and the company reported adjusted EPS of 65 cents.
Revenue: Sealed Air however missed on revenues. It reported second quarter revenues of $1,727 million, falling short of the Zacks Consensus Estimate of $1,743 million.
Key Developments to Note: Sealed Air now expects adjusted EPS to be at the high end of its guidance range of $2.52 to $2.60 in 2016. Revenue projection has been increased to $6.85 billion from the previous expectation of $6.8 billion.
Zacks Rank: Currently Sealed Air has a Zacks Rank #3 (Hold). 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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Sealed Air (SEE) Q2 Earnings Beat, Revenues Lag
Sealed Air Corporation (SEE - Free Report) 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 had cautioned that its second-quarter results will be down on a year-over-year basis primarily due to formula pricing in Food Care. Overall, unfavorable foreign currency translation, increase in restructuring costs and enhanced debt levels remain headwinds for the company. Nevertheless, the company will benefit from acquisitions, focus on growth opportunities, effective cost management and savings from restructuring.
Investors have been thus eagerly waiting for the second 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: Investors should note that the earnings estimate for Sealed Air for the second quarter has moved south over the past month and currently pegged at 64 cents.
As regards earnings surprise, Sealed Air has outpaced the Zacks Consensus Estimate in the past four quarters, with an average beat of 22.52%.
Earnings: Sealed Air beat on earnings by a margin of 2%. Our consensus called for earnings per share (EPS) of 64 cents, and the company reported adjusted EPS of 65 cents.
SEALED AIR CORP Price and EPS Surprise
SEALED AIR CORP Price and EPS Surprise | SEALED AIR CORP Quote
Revenue: Sealed Air however missed on revenues. It reported second quarter revenues of $1,727 million, falling short of the Zacks Consensus Estimate of $1,743 million.
Key Developments to Note: Sealed Air now expects adjusted EPS to be at the high end of its guidance range of $2.52 to $2.60 in 2016. Revenue projection has been increased to $6.85 billion from the previous expectation of $6.8 billion.
Zacks Rank: Currently Sealed Air has a Zacks Rank #3 (Hold). 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!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>