Sealed Air Corporation (SEE - Free Report) , a global leader in food safety and security, facility hygiene and product protection, reported second-quarter 2018 results, wherein adjusted earnings of 64 cents surpassed the Zacks Consensus Estimate of 58 cents.
Revenue: Sealed Air posted revenues of $1,155 million, beating the Zacks Consensus Estimate of $1,152 million.
Guidance: For 2018, Sealed Air guides net sales of around $4.75 billion, a constant dollar growth rate of approximately 7%, up from prior expectation of 4.5%. Adjusted EBITDA from continuing operations is expected to be in the range of $890 million to $910 million, unchanged from previous forecast. Adjusted earnings per share is projected at $2.45-$2.55, also kept unchanged from the previous guidance.
Earnings Estimates Revision: The Zacks Consensus Estimate for the second quarter has been stable over the past 30 days. In the trailing four quarters, excluding quarter under review, the company’s earnings have topped the Zacks Consensus Estimate by an average of nearly 0.2%.
Zacks Rank: Currently, Sealed Air carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction: Sealed Air’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Sealed Air earnings report!
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