Sealed Air Corp. Q1 Income Drops 14%

(RTTNews) - Sealed Air Corp. (SEE) announced a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line dropped to $98.2 million, or $0.50 per share. This was lower than $114.6 million, or $0.54 per share, in last year's first quarter.

Analysts had expected the company to earn $0.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.1% to $1.59 billion. This was down from $1.75 billion last year.

Sealed Air Corp. earnings at a glance:

-Earnings (Q1): $98.2 Mln. vs. $114.6 Mln. last year. -Earnings Decline (Y-o-Y): -14.3% -EPS (Q1): $0.50 vs. $0.54 last year. -EPS Decline (Y-o-Y): -7.4% -Analysts Estimate: $0.48 -Revenue (Q1): $1.59 Bln vs. $1.75 Bln last year. -Revenue Change (Y-o-Y): -9.1%

-Guidance: Full year EPS guidance: $2.52 - $2.60