Sealed Air Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Sealed Air Corp. (SEE) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $82.0 million, or $0.56 per share. This compares with $61.9 million, or $0.43 per share, in last year's first quarter.

Excluding items, Sealed Air Corp. reported adjusted earnings of $112.8 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.5% to $1.33 billion from $1.35 billion last year.

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

-Earnings (Q1): $82.0 Mln. vs. $61.9 Mln. last year. -EPS (Q1): $0.56 vs. $0.43 last year. -Revenue (Q1): $1.33 Bln vs. $1.35 Bln last year.

-Guidance: Next quarter EPS guidance: $0.60 - $0.70. Full year EPS guidance: $2.65 - $3.05 Full year revenue guidance: $5.2 - $5.6 Bln