Sealed Air Corp. Q1 Profit Increases, beats estimates

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

The company's bottom line totaled $149.2 million, or $1.00 per share. This compares with $110.1 million, or $0.71 per share, in last year's first quarter.

Excluding items, Sealed Air Corp. reported adjusted earnings of $168.1 million or $1.12 per share for the period.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $1.42 billion from $1.27 billion last year.

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

-Earnings (Q1): $149.2 Mln. vs. $110.1 Mln. last year. -EPS (Q1): $1.00 vs. $0.71 last year. -Analyst Estimate: $0.93 -Revenue (Q1): $1.42 Bln vs. $1.27 Bln last year.

-Guidance: Full year EPS guidance: Adj; $4.05 to $4.20 Full year revenue guidance: $5.85 - $6.05 Bln