Sealed Air Updates 2024 Financial Outlook - Update

Sealed Air

30.43 CHF -1.33%

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(RTTNews) - (Adds Outlook)

Sealed Air Corporation (SEE) said, for 2024, it now projects: Net Sales in a range of $5.375 billion to $5.425 billion; adjusted EBITDA of $1.09 billion to $1.11 billion; and adjusted EPS in a range of $3.00 to $3.10. In August, the company projected: net sales in a range of $5.2 billion to $5.6 billion; adjusted EBITDA in a range of $1.05 billion to $1.15 billion; and adjusted EPS in a range of $2.65 to $3.05.

Q3 Results:

The company's earnings came in at $91.7 million, or $0.63 per share. This compares with $56.6 million, or $0.39 per share, in last year's third quarter. Excluding items, Sealed Air Corp. reported adjusted earnings of $115.7 million or $0.79 per share for the period. Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter fell 2.6% to $1.345 billion from $1.381 billion last year.

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