Sealed Air: 3Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sealed Air Corp. (SEE) on Wednesday reported third-quarter net income of $68 million.
The Charlotte, North Carolina-based company said it had profit of 44 cents per share. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The packaging company posted revenue of $1.22 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.24 billion.
Sealed Air expects full-year earnings in the range of $2.70 to $2.80 per share, with revenue expected to be $4.8 billion.
Sealed Air shares have increased 20% since the beginning of the year, while the Standard & Poor’s 500 index has risen 23%. The stock has increased 23% in the last 12 months.