Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Sealed Air Turns To Profit In Q4 - Quick Facts

RELATED NEWS
Trade SEE now with 

Sealed Air Corp. (SEE: Quote) reported that its fourth-quarter net earnings available to common stockholders was $173.6 million or $0.89 per share, compared to a loss of $49.2 million or $0.25 per share in the same quarter last year.

On a reported basis, fourth quarter 2012 loss from continuing operations was $0.06 per share as compared with a loss of $0.31 per share in the fourth quarter of 2011. The reported losses were due to certain special items including debt redemption and non-cash impairment charges in 2012 and restructuring charges and costs related to the acquisition and integration of Diversey in both years.

Adjusted earnings per share from continuing operations was $0.34 for the fourth quarter, compared with fourth quarter 2011 Adjusted earnings per share of $0.06. Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter were $1.98 billion compared to $1.96 billion in the prior year quarter.

Ten analysts had consensus revenue estimate of $3.75 billion for the quarter.

The company said that its revised its prior year quarter results. In November 2012, the company sold its Diversey Japan business. The financial results of the Diversey Japan business were reported as discontinued operations, net of tax, and, accordingly all previously reported financial information has been revised. Included in the net earnings from discontinued operations is a net gain on sale of $179 million.

For 2013, the company expects modest sales and EBITDA growth, despite significant exposure to European markets and a recent increase in raw material costs. The company estimates 2013 net sales in the range of approximately $7.7 billion - $7.9 billion, adjusted EBITDA of $1.01 billion to $1.03 billion, and Adjusted earnings per share between $1.10 and $1.20. Analysts expected the company to report earnings of $1.25 per share on revenues of $7.77 billion for fiscal 2013.

Register
To receive FREE breaking news email alerts for Sealed Air Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.