Sealed Air Corp: 'We Are Very Pleased With What We Are Doing'

Sealed Air Corp SEE came out with better-than-expected quarterly results on Thursday, causing its stock to rally and end the day up 3.35 percent. The company reported EPS of $0.54, significantly above analysts' estimates of $0.42.

Sealed Air CEO Jerome Peribere was on Bloomberg recently to weigh in on the results.

Pleasing Results

"This is a great opportunity; we had a very strong first quarter, despite 8 percent negative currency translation," Peribere said. "We have improved our results by 13 percent and our earnings per share is also beating expectation, and beating very much last year – 33 cents last year, 54 this quarter. So, we are very pleased with what we are doing."

Related Link: Sealed Air Acquires Assets From Intellibot Robotics

The Divisions

Peribere was asked to explain the three divisions of Sealed Air Corp that the company is focused on right now. He replied, "Three divisions: Food care is a division where we do industrial hygiene and food packaging. What we do here is we eliminate food waste.

"The diversey-care division is our hygiene business in hospitality, in hospitals, in hotels, in food restaurants, etc. etc. This is our second largest division.

"Our product care division is about the original sealed air, the protective packaging division."

Restructuring

On the restructuring that the company has undertaken, Peribere said, "We have two programs. One is 'Get Fit,' which is making Sealed Air a performing company where we make it a modern company. We have people collaborate. We eliminate waste. And we do cross synergies across our businesses. That's one thing.

"The next things is we change the game [...] We really are the market leaders everywhere where we play, and as a result of that [...] our job is to continue to surprise positively our customers through revolutionary solutions," Peribere concluded.