Sealed Air: 4Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sealed Air Corp. (SEE) on Thursday reported fourth-quarter net income of $200.3 million, after reporting a loss in the same period a year earlier.
The Charlotte, North Carolina-based company said it had net income of $1.28 per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The packaging company posted revenue of $1.26 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.11 billion.
For the year, the company reported profit of $193.1 million, or $1.20 per share. Revenue was reported as $4.73 billion.
Sealed Air expects full-year earnings in the range of $2.65 to $2.75 per share.
Sealed Air shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. The stock has declined slightly more than 8 percent in the last 12 months.