Sealed Air (NYSE: SEE) reported Q1 EPS of $0.43, may not compare to analyst estimate of $0.47. Revenue for the quarter came in at $1.03 billion, may not compare to consensus estimate of $1.58 billion.

GUIDANCE:

Updated Outlook for Full Year 2017, Continuing Operations

For the full year 2017, the Company expects to achieve approximately Net Sales of $4.3 billion, as compared to $4.2 billion for the full year 2016. This sales performance is based on an expected 3% constant dollar sales growth in Food Care and 3 - 4% constant dollar sales growth in Product Care. Currency is expected to have a negative impact of $35 million on Net Sales in 2017.

Adjusted EBITDA from continuing operations for the full year 2017 is expected to be approximately $825 million, as compared to $808 million for the full year 2016. The outlook for Adjusted EBITDA assumes $25 million of costs that were previously allocated to Diversey that were not included in net earnings from discontinued operations, which compares to $17 million in 2016. Currency is expected to have a negative impact of approximately $5 million on Adjusted EBITDA in 2017.

Adjusted EPS from continuing operations is expected to be approximately $1.70 for the full year 2017 and assumes an Adjusted Tax Rate of 28% and an estimated 196 million diluted shares outstanding, which is in line with diluted shares outstanding in the first quarter of 2017.

The Company's Free Cash Flow outlook assumes an early September close on the sale of Diversey and is based on a full year of Adjusted EBITDA from continuing operations of $825 million and eight months from discontinued operations of $215 million. Free Cash Flow outlook excludes cash flow generation from working capital related to Diversey in the last four months of the year, and does not include payments expected to be paid in relation to the sale of Diversey. The Company anticipates 2017 Free Cash Flow to be approximately $390 million, including capital expenditures of approximately $175 million and cash restructuring payments of approximately $50 million, which excludes any restructuring programs to address stranded and unallocated costs. Full year 2016 Free Cash Flow was $631 million, including $276 million of capital expenditures and cash restructuring payments of $66 million

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