WASHINGTON (dpa-AFX) - 9Adds Outlook)
Sealed Air Corp. (SEE) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $94.3 million, or $0.65 per share. This compares with $180.9 million, or $1.20 per share, in last year's fourth quarter.
Excluding items, Sealed Air Corp. reported adjusted earnings of $145.1 million or $0.99 per share for the period.
Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 8.2% to $1.405 billion from $1.531 billion last year.
Outlook:
Looking ahead, for the fiscal 2023, the company expects adjusted earnings per share of $3.50 - $3.80. Four analysts, on average, polled by Thomson-Reuters expect the firm to report EPS of $4.09, for the year. Analysts' estimates typically exclude one-time items.
For the full-year, SEE projects net sales of $5.85 billion - $6.10 billion. Analysts, on average, expect the firm to record revenue of $5.77 billion, for the year.
Sealed Air Corp. Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $94.3 Mln. vs. $180.9 Mln. last year. -EPS (Q4): $0.65 vs. $1.20 last year. -Analyst Estimates: $0.98 -Revenue (Q4): $1.405 Bln vs. $1.531 Bln last year.
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