Sealed Air Corporation (NYSE:SEE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.75%.
Sealed Air Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 325% to $0.34 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 3.65% to $1.98 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sealed Air Corporation reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.29. It missed the average revenue estimate of $3.75 billion.
Quoting Management:Jerome A. Peribere, President and Chief Operating Officer, commented: “The headwinds in Europe, particularly Southern Europe, have been strong, and we saw some de-stocking in North America late in the fourth quarter. Protein supply factors also continue to challenge us from a top line perspective. However, we are pleased to report our focus on profitable growth continues with all divisions reflecting improved adjusted EBITDA on a year over year basis. Additionally, we are now reporting our results based on our new segment structure – an important step as we continue the integration of our Diversey acquisition.”
Key Stats (on next page)…