Sealed Air Corp. (SEE) has reported a notable increase in its third-quarter profit compared to the previous year, surpassing analysts' expectations. The company's reported net income for the quarter was $91.7 million, or $0.63 per share, an improvement from $56.6 million, or $0.39 per share, in the same period last year.
Excluding special items, adjusted earnings reached $115.7 million, or $0.79 per share. This performance exceeds the consensus estimate of $0.67 per share, as projected by Thomson Reuters, which typically excludes special items.
Despite the earnings boost, Sealed Air Corp. experienced a 2.6% decline in revenue, coming in at $1.345 billion, down from $1.381 billion the previous year.
In summary, Sealed Air Corp.'s third-quarter earnings under Generally Accepted Accounting Principles (GAAP) are as follows:
- Earnings: $91.7 million, up from $56.6 million last year.
- Earnings per Share (EPS): $0.63, compared to $0.39 in the prior year.
- Revenue: $1.345 billion, down from $1.381 billion last year.
The company has provided guidance for the full year, anticipating EPS to be in the range of $3.00 to $3.10 and revenue to fall between $5.375 billion and $5.425 billion.
