Sealed Air (SEE) Tops Q1 EPS by 12c; Issues Mixed Outlook

Sealed Air (NYSE: SEE) reported Q1 EPS of $0.54, $0.12 better than the analyst estimate of $0.42. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.73 billion.

Sealed Air sees FY2015 EPS of $2.08-$2.15, versus the consensus of $2.11. Sealed Air sees FY2015 revenue of $7.1 billion, versus the consensus of $7.39 billion.

Commenting on these results, Jerome A. Peribere, President and Chief Executive Officer, said, “Our first quarter 2015 performance was a strong start to the year despite currency headwinds. Net Sales of $1.7 billion were up 3.5% on a constant dollar basis as compared to last year with positive sales across all divisions and regions. Adjusted EBITDA increased more than 13% compared to last year with Adjusted EBITDA margins expanding 260 basis points to 16.3% as a result of favorable price/mix and cost spread and our ongoing commitment to operational excellence. For the remainder of the year, we will continue to stay disciplined on our value-added selling approach and focused on earnings quality improvement initiatives, both of which are expected to contribute to organic sales growth and margin expansion.”

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

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