Sealed Air Issues 2016 Guidance - Quick Facts

(RTTNews) - Sealed Air Corp. (SEE) estimates net sales to be approximately $6.8 billion for the full year 2016, which assumes an unfavorable impact of approximately $400 million or 6% from foreign currency translation. Adjusted for unfavorable currency and a $102 million decline related to 2015 divestitures, net sales in 2016 are expected to increase approximately 3.5% on an organic basis. Adjusted EPS is expected to be in the range of $2.52 to $2.60.

The company estimates 2016 adjusted EBITDA to be in the range of $1.17 billion to $1.19 billion, which assumes $65 million of unfavorable currency translation. On an organic basis, which excludes unfavorable currency and a reduction of $21 million related to 2015 divestitures, adjusted EBITDA is expected to increase in the range of 7% to 9%.

Jerome Peribere, CEO, said: "Our performance in 2016 will be driven by ongoing productivity improvements, further adoption of our more advanced product portfolio, and early successes with our Change the Game initiatives. All of this will accelerate future growth and drive margin expansion."