Sealed Air Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Sealed Air Corp. (SEE) revealed a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $99.1 million, or $0.68 per share. This compares with $113.9 million, or $0.77 per share, in last year's second quarter.

Excluding items, Sealed Air Corp. reported adjusted earnings of $115.5 million or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.8% to $1.38 billion from $1.42 billion last year.

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

-Earnings (Q2): $99.1 Mln. vs. $113.9 Mln. last year. -EPS (Q2): $0.68 vs. $0.77 last year. -Analyst Estimates: $0.67 -Revenue (Q2): $1.38 Bln vs. $1.42 Bln last year.

-Guidance: Full year EPS guidance: $2.75 to $2.95 Full year revenue guidance: $5.40 to $5.60 Bln