Sealed Air (SEE) Reports In-Line Q1 EPS; Boosts FY18 EPS Outlook

Sealed Air (NYSE: SEE) reported Q1 EPS of $0.51, in-line with the analyst estimate of $0.51. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.13 billion.

Highlights for the quarter include:

• Net Sales increased 10% year-over-year to $1.1 Billion from Continuing Operations
  • Including a $290 Million Tax Reform related expense, GAAP Net Loss from Continuing Operations of $208 Million or $(1.25) per diluted share
• Adjusted EBITDA increased 13% year-over-year to $205 Million
• Adjusted Earnings Per Diluted Share increased 19% year-over-year to $0.51
• Reaffirmed 2018 Outlook for Net Sales, Adjusted EBITDA and Free Cash Flow
• Increased 2018 Adjusted EPS outlook to $2.45 to $2.55, reflecting year-to-date share repurchases
• Increased share repurchase program authorization to $1.0 Billion

GUIDANCE:

Sealed Air sees FY2018 EPS of $2.45-$2.55, versus the consensus of $2.47.

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

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