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Last $47.34 USD
Change Today +0.41 / 0.87%
Volume 634.8K
As of 12:37 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

sealed air corp (SEE) Key Developments

Sealed Air Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

Sealed Air Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $1,746.4 million compared to $1,827.7 million a year ago. Operating profit was $183.6 million compared to $153.5 million a year ago. Earnings from continuing operations before income tax provision was $131.3 million compared to $81.1 million a year ago. Net earnings available to common stockholders were $97.2 million compared to $70.9 million a year ago. Diluted earnings per share were $0.46 compared to $0.33 a year ago. Net debt as at March 31, 2015 was $3,812.0 million. Cash flow from operating activities continuing operations was $319.1 million compared to cash flow used in operating activities continuing operations was $932.5 million a year ago. Capital expenditures for property and equipment were $20.7 million compared to $28.4 million a year ago. Free cash flow was $298.4 million compared to negative free cash flow was $960.9 million a year ago. Adjusted EBITDA for the first quarter 2015 was $284 million, or 16.3% of net sales, compared to $251 million, or 13.7% of net sales, in first quarter 2014. The year-over-year increase in the first quarter was primarily attributable to favorable mix and price/cost spread as well as cost synergies, partially offset by unfavorable currency translation and higher SG&A costs. Adjusted EPS was $0.54 compared with $0.33 in the first quarter 2014. For the full year of 2015, the company expects approximately $200 million in sales from trays and pads. The trays and absorbent pads divestiture closed on April 1, 2015, and as a result, the outlook provided below includes one quarter of financial results from this divestiture. The Company estimates net sales to be approximately $7.1 billion for the full year 2015. This forecast assumes an unfavorable impact of approximately 9% from foreign currency translation. Excluding the impact of foreign currency translation and the impact of the trays and pads divestiture, organic net sales are expected to increase approximately 3% on a constant dollar basis. Adjusted EPS is expected to be in the range of $2.08 to $2.15. Adjusted EPS guidance excludes the impact of special items. The Company’s core tax rate for 2015 is expected to be approximately 25%. Adjusted EBITDA is estimated to be in the range of $1.14 billion to $1.16 billion, which reflects the disposition of the trays and absorbent pads business and includes approximately $100 million of unfavorable currency translation. The Company anticipates capital expenditures of approximately $210 million and cash restructuring payments of approximately $120 million. Free Cash Flow is expected to be approximately $575 million, excluding the tax refund of approximately $235 million received in March 2015 related to the Settlement agreement payment.

Sealed Air Corporation to Report Q1, 2015 Results on Apr 30, 2015

Sealed Air Corporation announced that they will report Q1, 2015 results at 8:30 AM, US Eastern Standard Time on Apr 30, 2015

Sealed Air Corporation, Q1 2015 Earnings Call, Apr 30, 2015

Sealed Air Corporation, Q1 2015 Earnings Call, Apr 30, 2015

Sealed Air Corporation Eliminates Yagmur Sagnak as Vice President and President of its AMAT Region and Employment Ends with Effective from April 15, 2015

In connection with the management reorganization of its Asia, Middle East, Africa and Turkey region, on March 16, 2015, Sealed Air Corporation eliminated the position held by Yagmur Sagnak, Vice President of the company and President of its AMAT region, and accordingly Mr. Sagnak's employment with the company will end effective April 15, 2015. This management reorganization will involve transitioning the current AMAT region to an Asia Pacific region and moving the Middle East, Africa and Turkey countries into the company's existing European regional organization.

Sealed Air Corporation Presents at Credit Agricole 8th Annual Global High Yield Conference, Mar-11-2015 11:00 AM

Sealed Air Corporation Presents at Credit Agricole 8th Annual Global High Yield Conference, Mar-11-2015 11:00 AM. Venue: London, United Kingdom. Speakers: Carol P. Lowe, Chief Financial Officer and Senior Vice President.

 

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SEE

Industry Average

Valuation SEE Industry Range
Price/Earnings 35.4x
Price/Sales 1.3x
Price/Book 8.5x
Price/Cash Flow 25.1x
TEV/Sales 0.7x
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