Sealed Air Corporation (SEE - Free Report) reported third-quarter 2017 adjusted earnings per share of 46 cents, up 12% year over year. Earnings came in line with the Zacks Consensus Estimate.
Including special items, the company posted earnings of 33 cents per share, compared with 32 cents per share recorded in the year-ago quarter.
Total revenues increased 6.2% year over year on a reported basis to $1.13 billion in the quarter. Revenues beat the Zacks Consensus Estimate of $1.11 billion. Currency had a positive impact on total net sales of 1% or $13 million. Net sales on a constant dollar increased 5% primarily on volume growth. North America sales increased 7%, Asia Pacific posted 3% growth followed by both EMEA and Latin America rising 2%.
Cost and Margins
Cost of sales went up 8.6% year over year to $769million. Gross profit edged up 2% to $362 million. Gross margin contracted 150 basis points (bps) to 32.0% in the quarter.
SG&A expenses increased 5% to $192.7 million from the prior-year period. Adjusted earnings before interest, taxes and $217 million compared with $213 million in the prior-year quarter. Adjusted EBITDA margin was 19.2% compared with 20.0% 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 third-quarter 2017 adjusted earnings per share of 46 cents, up 12% year over year. Earnings came in line with the Zacks Consensus Estimate.
Including special items, the company posted earnings of 33 cents per share, compared with 32 cents per share recorded in the year-ago quarter.
Total revenues increased 6.2% year over year on a reported basis to $1.13 billion in the quarter. Revenues beat the Zacks Consensus Estimate of $1.11 billion. Currency had a positive impact on total net sales of 1% or $13 million. Net sales on a constant dollar increased 5% primarily on volume growth. North America sales increased 7%, Asia Pacific posted 3% growth followed by both EMEA and Latin America rising 2%.
Cost and Margins
Cost of sales went up 8.6% year over year to $769million. Gross profit edged up 2% to $362 million. Gross margin contracted 150 basis points (bps) to 32.0% in the quarter.
SG&A expenses increased 5% to $192.7 million from the prior-year period. Adjusted earnings before interest, taxes and $217 million compared with $213 million in the prior-year quarter. Adjusted EBITDA margin was 19.2% compared with 20.0% 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 >>
Get the latest research report on CAT - FREE
Get the latest research report on TEX - FREE
Get the latest research report on SEE - FREE
Get the latest research report on HEES - FREE