Finjitsu Research - Associated Analysts
CHICAGO, IL - Jan. 14, 2013
Current Perspective on Sealed Air Corp NYSE:SEE
Our Recent Meeting with New CEO Jerome Peribere was a Positive - Deleveraging Still a Priority - Initial Focus on Cost Cutting at Diversey - Lowering Our EPS to Reflect the Divestiture of Diversey Japan. Adjusting Diversey's cost structure to the market demand for its products and services (50% of revenues in Europe) is the number one focus moving forward.
Previous Perspective on Sealed Air Corp NYSE:SEE
Q3 Results Were in Line - Guidance Adjusted to $0.90-$1.00 to Reflect the Divestiture of Diversey Japan - Deleveraging Accelerating - Maintaining our EPS Estimates on the Old Basis. Q3 EPS of $0.31 compared with $0.48 last year (consensus $0.31). Management adjusted 2012 EPS in order to account for the previously anticipated $0.10 contribution from Diversey Japan, which is being sold to the Carlyle Group for $377M.
For more information on this brief please visit: Sealed Air Corp |SEE | Meeting with New CEO, a "No Nonsense" Story.
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