Integrated packaging solutions provider Sealed Air Corporation (NYSE: SEE) will be reporting earnings this Tuesday before market open. Here’s what investors should know.
Sealed Air beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $1.27 billion, down 4.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.
Is Sealed Air a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Sealed Air’s revenue to decline 2.6% year on year to $1.31 billion, in line with the 2.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.72 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sealed Air has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1% on average.
Looking at Sealed Air’s peers in the industrial packaging segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Crown Holdings delivered year-on-year revenue growth of 3.6%, beating analysts’ expectations by 0.9%, and Graphic Packaging Holding reported a revenue decline of 1.5%, topping estimates by 2.1%. Crown Holdings’s stock price was unchanged after the resultswhile Graphic Packaging Holding was down 2.6%.
Read our full analysis of Crown Holdings’s results here and Graphic Packaging Holding’s results here.
Investors in the industrial packaging segment have had steady hands going into earnings, with share prices flat over the last month. Sealed Air is down 10.3% during the same time and is heading into earnings with an average analyst price target of $39.13 (compared to the current share price of $28.47).
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