Sealed Air Corp. Q3 Profit Decreases, but beats estimates

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

The company's earnings totaled $56.6 million, or $0.39 per share. This compares with $134.2 million, or $0.92 per share, in last year's third quarter.

Excluding items, Sealed Air Corp. reported adjusted earnings of $111.5 million or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to $1.38 billion from $1.40 billion last year.

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

-Earnings (Q3): $56.6 Mln. vs. $134.2 Mln. last year. -EPS (Q3): $0.39 vs. $0.92 last year. -Analyst Estimates: $0.63 -Revenue (Q3): $1.38 Bln vs. $1.40 Bln last year.

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