Sealed Air (SEE) Tops Q1 EPS by 2c; Reaffirms

Sealed Air (NYSE: SEE) reported Q1 EPS of $0.50, $0.02 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.6 billion.Sealed Air reaffirmed FY2016 guidance.

Reaffirm Outlook for Full Year 2016

The Company reaffirms its guidance provided on February 10, 2016 for Net Sales, Adjusted EBITDA, Adjusted EPS and Free Cash Flow. For the full year 2016, the Company is on track to achieve approximately $6.8 billion in Net Sales and $1.17 to $1.19 billion in Adjusted EBITDA. The outlook for Adjusted EPS is unchanged and is expected to be in the range of $2.52 to $2.60. The outlook assumes an Adjusted Tax Rate of 24%. Adjusted EPS guidance excludes the impact of special items. The Company continues to anticipate 2016 Free Cash Flow to be approximately $550 million, including capital expenditures of approximately $275 million and cash restructuring payments of approximately $110 million.

For earnings history and earnings-related data on Sealed Air (SEE) click here.

You May Also Be Interested In

• Lockheed Martin (LMT) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY24 Guidance
• Kering revenue declines as 'performance worsened considerably' in Q1
• JetBlue Airways (JBLU) stock dips as revenue declines