Sealed Air Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Sealed Air Corp. (SEE) raised its adjusted earnings and net sales guidance for the full-year 2021.

For fiscal 2021, the company now projects adjusted earnings in a range of $3.40 to $3.60 per share on net sales between $5.40 billion and $5.50 billion.

Previously, the company expected adjusted earnings in the range of $3.40 to $3.55 per share on net sales between $5.25 billion and $5.35 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.50 per share on net sales of $5.31 billion for the year. Analysts' estimates typically exclude special items.

"We are accelerating our journey to world-class by increasing our investment in 'touchless' automation, digital and sustainability, while returning capital to shareholders, as demonstrated by our announced 25% dividend increase and share repurchases," said Ted Doheny, SEE's President and CEO.

On Monday, the Board of Directors authorized a new share repurchase program of $1 billion, continuing its commitment to return value to shareholders.