Sealed Air Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - Sealed Air Corp. (SEE) released a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $61.9 million, or $0.43 per share. This compares with $149.2 million, or $1.00 per share, in last year's first quarter.

Excluding items, Sealed Air Corp. reported adjusted earnings of $106.9 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.9% to $1.35 billion from $1.42 billion last year.

Sealed Air Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $61.9 Mln. vs. $149.2 Mln. last year. -EPS (Q1): $0.43 vs. $1.00 last year. -Analyst Estimates: $0.77 -Revenue (Q1): $1.35 Bln vs. $1.42 Bln last year.

-Guidance: Full year EPS guidance: $3.50 to $3.80 Full year revenue guidance: $5.85 to $6.10 Bln