Sealed Air Q2 Profit Declines - Quick Facts

(RTTNews) - Sealed Air Corp. (SEE) Thursday announced a decline in second quarter net income available to the common stockholders of $28.1 million or $0.13 per share, compared to $60.1 million or $0.28 per share last year.

On an adjusted basis, earnings per share rose to $0.60 from $0.42 in the comparable quarter last year. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.53 per share. Analysts estimates usually excludes special items.

Second quarter net sales declined 9.6 percent to $1.79 billion from $1.97 billion last year. On a constant dollar basis, revenues were up 0.5 percent. Analysts were looking for $1.76 billion.

Looking ahead to full year 2015, the company continues to estimate net sales to be approximately $7.1 billion for the full year 2015. This forecast assumes an unfavorable impact of approximately 9% from foreign currency translation. Excluding the impact of foreign currency translation and the impact of the trays and pads divestiture, organic net sales are expected to increase approximately 3%.

The company is increasing its forecast for adjusted earnings to a range of $2.24 to $2.28 from its previous range of $2.11 to $2.18. Adjusted EPS guidance excludes the impact of special items. Wall Street expects $2.18 per share on revenue of $7.15 billion.