Financial News
Sealed Air (SEE) Reports Q3: Everything You Need To Know Ahead Of Earnings
Integrated packaging solutions provider Sealed Air Corporation (NYSE:SEE) will be reporting results tomorrow before market hours. Here’s what investors should know.
Sealed Air beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $1.35 billion, down 2.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Sealed Air a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Sealed Air’s revenue to decline 3.1% year on year to $1.34 billion, a further deceleration from the 1.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.67 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 12 analysts). Sealed Air has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Sealed Air’s peers in the industrial packaging segment, some have already reported their Q3 results, giving us a hint as to what we can expect. International Paper delivered year-on-year revenue growth of 1.6%, meeting analysts’ expectations, and Packaging Corporation of America reported revenues up 12.7%, topping estimates by 4.4%. International Paper traded up 13.7% following the results while Packaging Corporation of America was also up 5.4%.
Read our full analysis of International Paper’s results here and Packaging Corporation of America’s results here.
There has been positive sentiment among investors in the industrial packaging segment, with share prices up 2.7% on average over the last month. Sealed Air is up 4.3% during the same time and is heading into earnings with an average analyst price target of $41.50 (compared to the current share price of $36.41).
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