Plus   Neg

Sealed Air Boosts FY19 Outlook - Quick Facts

While reporting financial results for the second quarter, Sealed Air Corp. (SEE) on Friday raised its adjusted earnings and net sales guidance for the full-year 2019. The company's outlook includes a five-month contribution from the APS acquisition.

For fiscal 2019, the company now expects adjusted earnings in the range of $2.70 to $2.80 per share, including $0.07 dilution from the APS acquisition. This is up from the previously provided guidance range of $2.65 to $2.75 per share.

The company also now expects net sales of about $4.85 billion, up from the previously provided sales guidance of $4.8 billion. The company continues to expect currency to have an unfavorable impact of approximately $130 million on net sales.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.73 per share on net sales of $4.80 billion for the year. Analysts' estimates typically exclude special items.

In addition, the company on Thursday completed the acquisition of Automated Packaging Systems, Inc. (APS), a leading manufacturer of automated bagging systems (including the iconic Autobag brand), for $510 million on a cash and debt free basis.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network. Mitsubishi Motors North America inc. recalled 141,200 cars and sports utility vehicles (SUVs) due to potential corrosion of the front cross member because of salt water exposure such as from road salt use in cold-weather, according to the National Highway Traffic Safety Administration. The recall is expected to begin on July 14, 2020. The U.S. State of Arizona filed a consumer fraud lawsuit against Google alleging deceptive and unfair practices used to obtain users' location data. In the filing, Arizona Attorney General Mark Brnovich accused that the tech giant exploits these data for its lucrative advertising business. In a tweet, Brnovich said, "We brought forward this action to put a stop to Google's deceptive collection ...
Follow RTT