Sealed Air Corporation (SEE - Free Report) reported second-quarter 2017 adjusted earnings per share of 35 cents, down 5.4% year over year. Earnings also missed the Zacks Consensus Estimate of 36 cents.
Including special items, the company posted earnings of 14 cents per share, compared with earnings of a cent recorded in the year-ago quarter.
Total revenue increased 3% year over year on a reported basis to $1.07 billion in the quarter. Revenues beat the Zacks Consensus Estimate of $1.064 billion. Currency had a negative impact on total net sales of 0.7% or $7 million. As reported, net sales North America increased 9%. However, Asia Pacific sales declined 2% while Latin America and EMEA declined 4% each.
Cost and Margins
Cost of sales went up 5.3% year over year to $726 million. Gross profit dipped 2% to $344.3 million. Gross margin contracted 150 basis points (bps) to 32.2% in the quarter.
SG&A expenses increased 2% to $201.8 million from the prior-year period. Adjusted earnings before interest, taxes and $196 million compared with $194 million in the prior-year quarter. Adjusted EBITDA margin was 18.3% compared with18.6% in the prior-year quarter.
Sealed Air Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Sealed Air Corporation (SEE - Free Report) reported second-quarter 2017 adjusted earnings per share of 35 cents, down 5.4% year over year. Earnings also missed the Zacks Consensus Estimate of 36 cents.
Including special items, the company posted earnings of 14 cents per share, compared with earnings of a cent recorded in the year-ago quarter.
Total revenue increased 3% year over year on a reported basis to $1.07 billion in the quarter. Revenues beat the Zacks Consensus Estimate of $1.064 billion. Currency had a negative impact on total net sales of 0.7% or $7 million. As reported, net sales North America increased 9%. However, Asia Pacific sales declined 2% while Latin America and EMEA declined 4% each.
Cost and Margins
Cost of sales went up 5.3% year over year to $726 million. Gross profit dipped 2% to $344.3 million. Gross margin contracted 150 basis points (bps) to 32.2% in the quarter.
SG&A expenses increased 2% to $201.8 million from the prior-year period. Adjusted earnings before interest, taxes and $196 million compared with $194 million in the prior-year quarter. Adjusted EBITDA margin was 18.3% compared with18.6% in the prior-year quarter.
Sealed Air Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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