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Sealed Air -6% after seeing Q3 earnings below consensus, cuts full-year view

Oct. 17, 2018 5:04 PM ETSealed Air Corporation (SEE) StockSEEBy: Carl Surran, SA News Editor
  • Sealed Air (NYSE:SEE) -6.4% after-hours as it issues below-consensus Q3 earnings and revenues, hurt by currency headwinds and higher than expected raw material and freight costs.
  • SEE expects Q3 adjusted EPS of $0.60-$0.61 vs. analyst consensus estimate of $0.65, on sales of ~$1.2B, up 5% Y/Y and in-line with $1.19B consensus, and lowers its full-year EPS guidance to $2.40-$2.45 from $2.45-$2.55 on revenue of ~$4.7B, vs. consensus of $2.51 EPS on revenue of $4.75B.
  • SEE also lowers its outlook for FY 2018 adjusted EBITDA of $870M-$880M from $890M-$910M, with currency nicking full-year net net sales by $40M and adjusted EBITDA by $10M.

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