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Last $53.17 USD
Change Today +0.19 / 0.36%
Volume 2.5M
SEE On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

sealed air corp (SEE) Snapshot

Open
$53.26
Previous Close
$52.98
Day High
$53.79
Day Low
$52.56
52 Week High
07/30/15 - $54.96
52 Week Low
10/15/14 - $29.85
Market Cap
11.2B
Average Volume 10 Days
2.4M
EPS TTM
$2.22
Shares Outstanding
210.2M
EX-Date
09/2/15
P/E TM
24.0x
Dividend
$0.52
Dividend Yield
0.98%
Current Stock Chart for SEALED AIR CORP (SEE)

sealed air corp (SEE) Details

Sealed Air Corporation provides food safety and security, facility hygiene, and product protection solutions worldwide. The company’s Food Care segment offers integrated system solutions that incorporate equipment systems into customers’ operations; and packaging equipment systems that incorporate various options for loading, filling and dispensing, and retort and aseptic processing conditions. It also provides graphic design, printing, training, field quality assurance, and remote diagnostics services; and clean-in-place and open plant systems that integrate cleaning chemicals, lubricants, floor care equipment, and cleaning tools. This segment offers its products under the Cryovac, Diversey, Cryovac Grip & Tear, Darfresh, Cryovac Mirabella, Simple Steps, Secure Check, and Enduro Power brands. Its Diversey Care segment offers Diversey-branded solutions, such as products and dispensing systems for hard surface cleaning, disinfecting and sanitizing, hand washing, deodorizing, mechanical and manual ware washing, hard surface and carpeted floor cleaning systems, floor cleaning robots, cleaning tools and utensils, and fabric care for professional laundry applications. The company’s Product Care segment provides product care solutions to meet cushioning, void fill, positioning/block-and-bracing, surface protection, retail display, containment, and dunnage needs under the Bubble Wrap and AirCap, Cryovac, Shanklin, Instapak, Jiffy, and Korrvu brand names. The company also offers medical applications products. It sells its products to business/industrial end-users, fabricators, OEMs/contract manufacturers, third party logistics partners, e-commerce/fulfillment operations, and retail centers in the food and beverage processing, food service, retail, healthcare and industrial, and commercial and consumer applications end markets. The company was founded in 1960 and is headquartered in Charlotte, North Carolina.

24,000 Employees
Last Reported Date: 07/30/15
Founded in 1960

sealed air corp (SEE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.2M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $585.8K
Vice President and President of Food Care
Total Annual Compensation: $470.5K
Vice President and President of Diversey Care
Total Annual Compensation: $433.1K
Senior Vice President
Total Annual Compensation: $477.5K
Compensation as of Fiscal Year 2014.

sealed air corp (SEE) Key Developments

Sealed Air Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015

Sealed Air Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. Second quarter 2015 net sales of $1.8 billion decreased 9.6% on a reported basis and increased 0.5% on a constant dollar basis. Currency had a negative impact on net sales of 10.1%, or $199 million. Adjusting for currency translation and the divestiture, net sales increased 3.3% on an organic basis. Second quarter 2015 net earnings on a reported basis were $28 million, or $0.13 per basic and diluted share as compared to $60 million, or $0.28 per basic and diluted share in the second quarter 2014. Both periods include special items, primarily consisting of the loss on debt redemption and refinancing activities in 2015, and restructuring and other associated costs in 2014. Adjusted EPS was $0.60 for the second quarter 2015. This compares to Adjusted EPS of $0.42 in the second quarter 2014. Adjusted EBITDA for the second quarter 2015 was $308 million, or 17.2% of net sales, compared to $284 million, or 14.4% of net sales, in second quarter 2014. Earnings before income tax provision was $42.9 million against $93 million a year ago. For the six months period, net earnings available to common stockholders was $125.3 million or $0.59 per diluted share on net sales of $3,531.4 million against net earnings available to common stockholders of $131.0 million or $0.61 per diluted share on net sales of $3,801.3 million a year ago. Cash flow provided by operating activities in the six months ended June 30, 2015 was $463 million. In March 2015, the Company received a tax refund of $235 million related to the Settlement agreement payment. Excluding the tax refund, cash flow provided by operating activities in the six months ended June 30, 2015 was $228 million, which is net of $45 million of restructuring and $18 million of SARs payments. This compares with cash used by operating activities of $756 million in the six months ended 2014, which is net of $50 million of restructuring, $17 million of SARs payments and $930 million related to the Settlement agreement. Capital expenditures were $58 million in the six months ended June 30, 2015 compared to $55 million in the six months ended June 30, 2014. Compared to December 31, 2014, the Company’s net debt decreased $197 million to $3.9 billion as of June 30, 2015. This decrease was primarily a result of an increase in cash reflecting the tax refund related to the Settlement agreement payment and cash generated from operating activities, partially offset by amounts paid for dividends and share repurchases. Earnings before income tax provision was $174.2 million against $174.1 million a year ago. The Company continues to estimate net sales to be approximately $7.1 billion for the full year 2015, which assumes an unfavorable impact of approximately 9% from foreign currency translation. Excluding the impact of foreign currency translation and the impact of the divestiture, net sales are expected to increase approximately 3% on an organic basis. The Company is increasing its forecast for Adjusted EPS to a range of $2.24 to $2.28 from its previously provided outlook in the range of $2.11 to $2.18. The Adjusted EPS increase is due to higher net earnings and reflects share repurchases through July 28, 2015. Adjusted EPS guidance excludes the impact of special items. The Company’s expected Core Tax Rate for 2015 of approximately 25% is unchanged from prior forecast. Adjusted EBITDA is now estimated to be in the range of $1.16 billion to $1.17 billion as compared to the previously provided forecast of $1.14 billion to $1.16 billion, which reflects the divestiture and includes approximately $110 million of unfavorable currency translation. As a result of higher earnings, Free Cash Flow is expected to be approximately $585 million, excluding the tax refund of approximately $235 million received in March 2015 related to the Settlement agreement payment. This compares to the Company's previous outlook of approximately $575 million, which also excluded the tax refund related to the Settlement agreement payment. The Company continues to anticipate capital expenditures of approximately $210 million and cash restructuring payments of approximately $120 million.

Sealed Air Corporation Declares Quarterly Cash Dividend, Payable on September 18, 2015

Sealed Air Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on September 18, 2015 to stockholders of record at the close of business on September 4, 2015.

Sealed Air Corporation Revised Earnings Guidance for the Year 2015; Provides Capital Expenditure Guidance for the Year 2016; Provides Financial Guidance for the Year 2018

Sealed Air Corporation revised earnings guidance for the year 2015. The company is maintaining its full year 2015 net sales forecast of approximately $7.1 billion or an organic growth rate of approximately 3%. Adjusted EBITDA is expected to be in the range of $1.14 billion to $1.16 billion and an increase on an organic basis of 14% to 16%. This implies an adjusted EBITDA margin of just over 16%. Recent refinancing will have a positive $0.03 impact on earnings per share in 2015, increasing expected EPS to a range of $2.11 to $2.18. Free cash flow outlook for 2015 is $575 million, which includes $195 million of restructuring activity. Capital expenditures are expected to be $210 million. Capital expenditures are expected to be $275 million in 2016. The company expect to generate approximately $775 million of free cash flow in 2018. The company is forecasting adjusted EBITDA to be in the range of $1.4 billion to $1.45 billion in 2018. 2018 estimate assumed an effective tax rate of 26%. Capital expenditures are expected to be in the range of $180 million to $220 million by 2018.

 

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Industry Analysis

SEE

Industry Average

Valuation SEE Industry Range
Price/Earnings 39.9x
Price/Sales 1.4x
Price/Book 9.7x
Price/Cash Flow 28.2x
TEV/Sales 0.8x
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