Sealed Air Made This Much Money in Q2! But...
Sealed Air (SEE) recently reported second-quarter net income of $87.8 million, or 45 cents per share, with adjusted earnings per share of 35 cents, falling short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was 36 cents per share.
The packaging company's revenue for the period was $1.07 billion, exceeding Wall Street forecasts. Six analysts surveyed by Zacks had expected $1.06 billion.
Sealed Air expects full-year earnings of between $1.75 and $1.80 per share, with projected revenue of $4.3 billion.
Sealed Air's stock has fallen more than 3% since the start of the year, while the S&P 500 has risen 11%. The stock is down 6% over the past 12 months.
Sealed Air (NYSE: SEE) is a global leader in product protection, food hygiene and safety, and facility hygiene, with globally recognized innovative brands such as Bubble Wrap® air bubble cushioning material, Instapak® foam-in-place systems, Fill-Air® inflatable packaging systems, Cryovac® food packaging solutions, and Diversey™ cleaning and hygiene solutions.
Sealed Air has approximately 25,000 employees, operates in 62 countries (or regions), has distribution capabilities covering 175 countries (or regions), and has 145 production plants.
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