Sealed Air Lifts 2017 Adj. EPS Outlook

(RTTNews) - Sealed Air Corp. (SEE) said that it expects adjusted earnings per share from continuing operations for the full year 2017 to be in the range of $1.75 to $1.80, compared to prior outlook of approximately $1.70. Analysts polled by Thomson Reuters expect the company to report earnings of $1.79 per share for 2017. Analysts' estimates typically exclude special items.

For the full year 2017, the company continues to expect net sales of about $4.3 billion, as compared to $4.2 billion for the full year 2016. This sales performance is based on an expected 3% constant dollar sales growth in Food Care and in the range of 3 to 4% constant dollar sales growth in Product Care. Analysts expect revenue of $4.34 billion for 2017.

Adjusted EBITDA from continuing operations for the full year 2017 is now expected to be in the range of $825 to $835 million, as compared to $808 million for the full year 2016.

Currency is not expected to have a material impact on Net Sales, Adjusted EBITDA or Adjusted EPS for the full year 2017.