UPDATE: Sealed Air Lowers Full-Year Earnings Forecast

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Sealed Air
SEE
posted a loss in the third quarter and cut its earnings forecast for the year. Sealed Air now projects adjusted earnings of $0.90 to $1 per share, versus its earlier forecast of $1 to $1.10 per share. Sealed Air posted a quarterly loss of $1.17 billion, or $6.03 per share, versus a year-earlier profit of $73.7 million, or $0.41 per share. Excluding one-time items, it earned $0.31 per share. Its revenue surged 52% to $1.9 billion. However, analysts were expecting income of $0.31 per share on revenue of $1.98 billion. Sealed Air's gross margin climbed to 33.9% from 26.9%. Sealed Air shares closed at $16.68 yesterday.
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Posted In: EarningsNewsGuidanceloss
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