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Sealed Air (SEE) Invests in Solar Panels to Lower Energy Costs
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Sealed Air Corp. (SEE - Free Report) recently announced that it has invested $9 million to install solar panels, which are now powering its Madera, California manufacturing plant. The company expects that the solar panels will aid to lower energy costs by $1 million at this facility.
Sealed Air’s California plant manufactures BUBBLE WRAP brand original cushioning, SEALED AIR brand Korrvu retention and suspension packaging, mailers, and other solutions. Around 98% of the electricity consumption of these solutions will now be powered by the solar field.
The installation of these solar panels supports Sealed Air’s sustainability strategy and accelerates its transition to net-zero carbon emissions in its operations by 2040. SEE is extending its use of renewable energy through these solar panels while reducing the energy consumption of its operations and the company’s greenhouse gas emissions.
Sealed Air partnered with TotalEnergies to design and install the 3.5-megawatt ground mount solar project, comprising 8,975 solar panels, along with a 770 kW/3,080 kilowatt-hour battery storage system. These alliances help both the companies to strengthen renewable energy space and deliver long-term benefits to SEE’s Madera facility.
Earlier this month, Sealed Air reported its second-quarter 2022 results. Adjusted earnings for the quarter came in at $1.01 per share, which surpassed the Zacks Consensus Estimate of 98 cents. The bottom-line figure improved 28% year over year on a favorable price/cost spread. Total revenues were up 6.7% year over year to $1,418 million but missed the Zacks Consensus Estimate of $1,445 million.
For 2022, Sealed Air expects net sales between $5.85 billion and $6.05 billion, indicating year-over-year growth of 6-9%. The company anticipates adjusted EBITDA in the range of $1.22-$1.25 billion, suggesting year-over-year growth in the range of 6-10%. Adjusted earnings per share are forecast in the band of $4.05-$4.20. The mid-point of the guidance indicates year-over-year earnings growth of 16%.
In December 2018, Sealed Air set on its reformation plan — Reinvent SEE Strategy — to drive its growth. The strategy was focused on innovations, SG&A productivity, product-cost efficiency, channel optimization and customer-service enhancements.
One of the most vital aspects of this strategy involves investments in technology and resources focusing on new and existing high-growth markets. The capabilities, operational disciplines and governance processes established through the Reinvent SEE business transformation are now embedded in the company’s ongoing productivity improvement system, SEE Operating Engine. It is helping the company in delivering sales growth and productivity gains that are helping mitigate the supply-chain-related challenges.
Sealed Air launched its new Digital Packaging Solutions brand, prismiq, to create game-changing value for customers powered by its breakthrough digital printing technology. Sealed Air’s focus on automation, digital and sustainability is expected to drive above-market growth in its core business, enabling it to expand into new and adjacent markets.
Sealed Air is meeting customers' most critical needs for safety and productivity, and reducing labor dependency with its touchless automated solutions. Its pipeline for automated equipment continues to improve and the company intends to more than double its automation business to more than $1 billion by 2025. It is investing to double its equipment production and service capacity over the next few years.
Price Performance
Sealed Air’s shares have declined 6.5% in the past year compared with the industry’s fall of 2.2%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sealed Air currently carries a Zacks Rank #3 (Hold).
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised upward by 6%.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1.7% in the past year.
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Sealed Air (SEE) Invests in Solar Panels to Lower Energy Costs
Sealed Air Corp. (SEE - Free Report) recently announced that it has invested $9 million to install solar panels, which are now powering its Madera, California manufacturing plant. The company expects that the solar panels will aid to lower energy costs by $1 million at this facility.
Sealed Air’s California plant manufactures BUBBLE WRAP brand original cushioning, SEALED AIR brand Korrvu retention and suspension packaging, mailers, and other solutions. Around 98% of the electricity consumption of these solutions will now be powered by the solar field.
The installation of these solar panels supports Sealed Air’s sustainability strategy and accelerates its transition to net-zero carbon emissions in its operations by 2040. SEE is extending its use of renewable energy through these solar panels while reducing the energy consumption of its operations and the company’s greenhouse gas emissions.
Sealed Air partnered with TotalEnergies to design and install the 3.5-megawatt ground mount solar project, comprising 8,975 solar panels, along with a 770 kW/3,080 kilowatt-hour battery storage system. These alliances help both the companies to strengthen renewable energy space and deliver long-term benefits to SEE’s Madera facility.
Earlier this month, Sealed Air reported its second-quarter 2022 results. Adjusted earnings for the quarter came in at $1.01 per share, which surpassed the Zacks Consensus Estimate of 98 cents. The bottom-line figure improved 28% year over year on a favorable price/cost spread. Total revenues were up 6.7% year over year to $1,418 million but missed the Zacks Consensus Estimate of $1,445 million.
For 2022, Sealed Air expects net sales between $5.85 billion and $6.05 billion, indicating year-over-year growth of 6-9%. The company anticipates adjusted EBITDA in the range of $1.22-$1.25 billion, suggesting year-over-year growth in the range of 6-10%. Adjusted earnings per share are forecast in the band of $4.05-$4.20. The mid-point of the guidance indicates year-over-year earnings growth of 16%.
In December 2018, Sealed Air set on its reformation plan — Reinvent SEE Strategy — to drive its growth. The strategy was focused on innovations, SG&A productivity, product-cost efficiency, channel optimization and customer-service enhancements.
One of the most vital aspects of this strategy involves investments in technology and resources focusing on new and existing high-growth markets. The capabilities, operational disciplines and governance processes established through the Reinvent SEE business transformation are now embedded in the company’s ongoing productivity improvement system, SEE Operating Engine. It is helping the company in delivering sales growth and productivity gains that are helping mitigate the supply-chain-related challenges.
Sealed Air launched its new Digital Packaging Solutions brand, prismiq, to create game-changing value for customers powered by its breakthrough digital printing technology. Sealed Air’s focus on automation, digital and sustainability is expected to drive above-market growth in its core business, enabling it to expand into new and adjacent markets.
Sealed Air is meeting customers' most critical needs for safety and productivity, and reducing labor dependency with its touchless automated solutions. Its pipeline for automated equipment continues to improve and the company intends to more than double its automation business to more than $1 billion by 2025. It is investing to double its equipment production and service capacity over the next few years.
Price Performance
Sealed Air’s shares have declined 6.5% in the past year compared with the industry’s fall of 2.2%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sealed Air currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Applied Industrial Technologies, Inc. (AIT - Free Report) , Greif Inc. (GEF - Free Report) and Sonoco Products Co. (SON - Free Report) . While AIT sports a Zacks Rank #1 (Strong Buy), GEF and SON carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised upward by 6%.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1.7% in the past year.