Join        Login             Stock Quote

Sealed Air (SEE) 4Q Earnings Beat Estimates; Guidance Trails

 February 19, 2013 08:27 AM

(By Balaseshan) Sealed Air Corp. (NYSE: SEE) reported a narrower loss for the fourth quarter due to lower expenses, and adjusted earnings exceeded market expectations. The food safety services company guided fiscal 2013 adjusted profit below consensus.

Adjusted earnings per share (EPS) from continuing operations rose to 34 cents from 6 cents, while Wall Street expected 29 cents. Net loss from continuing operations narrowed to $10.9 million for the fourth quarter from $59.8 million in the year-ago quarter.

Net sales increased to $1.978 billion from $1.963 billion with 2.6% higher volumes offset by 1.7% of unfavorable currency translation.

[Related -Stocks End Higher Amid Corporate Deal Optimism; Humana (HUM) Retreats]

Food & Beverage (F&B) sales increased 2.4% on a constant dollar basis, or increased 0.9% on a reported basis. F&B achieved 3.1% higher volumes, led by 3.6% volume growth in hygiene solutions and 2.9% volume growth in the food packaging and food solutions businesses.

Institutional & Laundry (I&L) sales increased 2.3% on a constant dollar basis and were flat on a reported basis. I&L achieved 0.7% higher volumes and 1.6% higher price/mix, offset by 2.4% of unfavorable currency translation.

Protective Packaging sales increased 1.5% on a constant dollar basis, or 0.6% on a reported basis, with 2.6% higher volumes and 1.1% lower price/mix, as well as unfavorable currency translation of 0.9%.

Sales from Medical Applications and New Ventures increased 13.4% on a constant dollar basis, or 9.1% on a reported basis, with 12.7% higher volumes and 1.1% from an acquisition. This sales increase was primarily driven by increased market penetration in Europe.

[Related -Futures Rise Amid Jobs Data; Starbucks (SBUX) Surges]

Looking ahead for the full year 2013, the company expects adjusted EPS from continuing operations in the range of $1.10 to $1.20 and sales of about $7.7 billion to $7.9 billion, while Street predicts EPS of $1.25 on revenue of $7.77 billion.

"We continue to operate in a challenging economic environment, particularly in Europe. However, we are confident in the fundamentals of our business. We are committed to increase profitability and aggressively manage our cost structure," said Jerome Peribere, President and Chief Operating Officer.

SEE ended Friday's regular session at $19.40. The stock has been trading in the 52-week range between $11.51 and $21.24.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageWorld Growth: Mediocre or Pathetic?

The recent disappointing performance of the world economy has been labelled as the "new mediocre" by read on...

article imageSurvey Data For US Services Sector Hint At Mild Q2 Rebound

Yesterday’s discouraging numbers on job growth in April via the ADP Employment Report raise doubts about a read on...

article imageADP: US Job Growth Stumbled In April

Employment growth at US companies slowed in April to the weakest gain in three years, according to this read on...

article imageBogle Says Indexing Destined To Win The Battle Of The Quants

Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.