Edition:
United States

Sealed Air Corp (SEE)

SEE on New York Consolidated

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16 Aug 2019
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Latest Key Developments (Source: Significant Developments)

Sealed Air Corp Says Audit Committee Of Board Dismissed Ernst & Young Llp As Co's Independent Registered Public Accounting Firm on Aug. 7
Monday, 12 Aug 2019 05:09pm EDT 

Aug 12 (Reuters) - Sealed Air Corp ::SEALED AIR CORP - ON AUG 7 AUDIT COMMITTEE OF BOARD DISMISSED ERNST & YOUNG LLP AS CO'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.SEALED AIR SAYS DISMISSAL OF ERNST & YOUNG MADE IN LIGHT OF CO'S PREVIOUSLY DISCLOSED RECEIPT OF A SUBPOENA FROM U.S. SEC ON MAY 2 - SEC FILING.SEALED AIR CORP - ERNST & YOUNG LLP HAS REAFFIRMED TO COMPANY THAT EY BELIEVES THERE HAS BEEN NO INDEPENDENCE VIOLATION.SEALED AIR - ON AUG 7 COMMITTEE APPROVED ENGAGEMENT OF PRICEWATERHOUSECOOPERS AS CO'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.  Full Article

Sealed Air Q2 Adjusted Earnings Per Share $0.80
Friday, 2 Aug 2019 07:00am EDT 

Sealed Air Corp ::SEALED AIR REPORTS SECOND QUARTER RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $0.80.Q2 EARNINGS PER SHARE $0.16.Q2 SALES $1.2 BILLION VERSUS REFINITIV IBES ESTIMATE OF $1.17 BILLION.SEES FY 2019 SALES ABOUT $4.85 BILLION.Q2 EARNINGS PER SHARE ESTIMATE $0.64 -- REFINITIV IBES DATA.RAISES 2019 ADJUSTED EBITDA AND ADJUSTED EPS GUIDANCE.FY ADJUSTED EBITDA IS NOW EXPECTED TO BE IN RANGE OF $950 TO $960 MILLION.EXPECTS FY NET SALES OF APPROXIMATELY $4.85 BILLION.EXPECTS FY ADJUSTED EPS OF $2.70 TO $2.80.EXPECTS FY FREE CASH FLOW TO BE APPROXIMATELY $180 MILLION.Q2 EARNINGS PER SHARE VIEW $0.64, REVENUE VIEW $1.17 BILLION -- REFINITIV IBES DATA.QTRLY SALES INCREASED 4% IN NORTH AMERICA, 1% IN ASIA PACIFIC AND 30% IN SOUTH AMERICA ON A CONSTANT DOLLAR BASIS.  Full Article

Sealed Air Appoints James Sullivan As Chief Financial Officer
Thursday, 20 Jun 2019 05:25pm EDT 

June 20 (Reuters) - Sealed Air Corp ::SEALED AIR APPOINTS JAMES M. SULLIVAN AS NEW CHIEF FINANCIAL OFFICER.SEALED AIR CORP - COMPANY REAFFIRMS 2019 EARNINGS OUTLOOK.SEALED AIR CORP - APPOINTED JAMES M. SULLIVAN AS CHIEF FINANCIAL OFFICER, EFFECTIVE JUNE 24, 2019..  Full Article

Sealed Air Announces Termination Of William G. Stiehl As Chief Financial Officer
Thursday, 20 Jun 2019 05:24pm EDT 

June 20 (Reuters) - Sealed Air Corp ::SEALED AIR ANNOUNCES THE TERMINATION OF WILLIAM G. STIEHL AS CHIEF FINANCIAL OFFICER.SEALED AIR - STIEHL'S TERMINATION IS RELATED TO AN INTERNAL REVIEW BY BOARD AUDIT COMMITTEE ON PREVIOUSLY DISCLOSED INVESTIGATION BY U.S. SEC.SEALED AIR CORP - COMPANY IS CONTINUING TO COOPERATE WITH SEC'S INVESTIGATION.  Full Article

Sealed Air Reports Q1 Earnings Per Share Of $0.41
Wednesday, 1 May 2019 07:00am EDT 

May 1 (Reuters) - Sealed Air Corp ::SEALED AIR REPORTS FIRST QUARTER RESULTS.Q1 ADJUSTED EARNINGS PER SHARE $0.59.Q1 EARNINGS PER SHARE $0.41.Q1 SALES $1.1 BILLION VERSUS REFINITIV IBES ESTIMATE OF $1.13 BILLION.SEES FY 2019 SALES UP 2 PERCENT.Q1 EARNINGS PER SHARE ESTIMATE $0.57 -- REFINITIV IBES DATA.QTRLY NET SALES OF $1.1 BILLION DECLINED 2% AS REPORTED AND INCREASED 3% IN CONSTANT DOLLAR.RECONFIRMS 2019 FULL YEAR OUTLOOK.QTRLY ADJUSTED EPS INCREASED 16% TO $0.59.CONTINUES TO EXPECT CURRENCY TO HAVE AN UNFAVORABLE IMPACT OF APPROXIMATELY $130 MILLION ON NET SALES.COMPANY CONTINUES TO EXPECT CURRENCY TO HAVE AN UNFAVORABLE IMPACT OF APPROXIMATELY $25 MILLION ON ADJUSTED EBITDA FOR FY 2019.Q1 EARNINGS PER SHARE VIEW $0.57, REVENUE VIEW $1.13 BILLION -- REFINITIV IBES DATA.  Full Article

Sealed Air To Acquire Automated Packaging Systems
Wednesday, 1 May 2019 06:59am EDT 

May 1 (Reuters) - Sealed Air Corp ::SEALED AIR TO ACQUIRE AUTOMATED PACKAGING SYSTEMS.SEALED AIR CORP - DEAL FOR PURCHASE PRICE OF $510 MILLION ON A CASH AND DEBT FREE BASIS..SEALED AIR CORP - PROPOSED DEAL FOR $510 MILLION.SEALED AIR CORP - INTENDS TO USE CASH ON HAND AND CREDIT FACILITIES TO FINANCE TRANSACTION.SEALED AIR CORP - DEAL ACCRETIVE TO ADJUSTED EBITDA.SEALED AIR CORP - UPON TRANSACTION CLOSING, COMPANY PLANS TO UPDATE ITS 2019 FULL YEAR OUTLOOK ON Q2 EARNINGS CONFERENCE CALL.SEALED AIR CORP - EXPECTS COST SYNERGIES RESULTING FROM SUPPLY CHAIN EFFICIENCIES FROM DEAL.  Full Article

Sealed Air Corp Says CEO Edward L. Doheny II's 2018 Total Compensation Was $8.9 Mln – SEC Filing
Thursday, 4 Apr 2019 08:00am EDT 

April 4 (Reuters) - Sealed Air Corp ::SEALED AIR CORP SAYS CEO EDWARD L. DOHENY II'S 2018 TOTAL COMPENSATION WAS $8.9 MILLION – SEC FILING.SEALED AIR -ESTIMATE THAT FOR 2018 CEO’S ANNUAL TOTAL COMPENSATION WAS ABOUT 169 TIMES THAT OF MEDIAN OF ANNUAL TOTAL COMPENSATION OF ALL EMPLOYEES.  Full Article

Sealed Air Reports Q3 2018 Results
Thursday, 1 Nov 2018 07:00am EDT 

Nov 1 (Reuters) - Sealed Air Corp ::SEALED AIR REPORTS THIRD QUARTER RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $0.61 FROM CONTINUING OPERATIONS.Q3 SALES $1.2 BILLION VERSUS I/B/E/S VIEW $1.18 BILLION.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $2.40 TO $2.45.Q3 EARNINGS PER SHARE VIEW $0.60 -- THOMSON REUTERS I/B/E/S.REAFFIRM 2018 OUTLOOK PROVIDED ON OCTOBER 17, 2018.REAFFIRM 2018 OUTLOOK PROVIDED ON OCTOBER 17, 2018.EXISTING RESTRUCTURING PROGRAM EXPECTED TO REALIZE ANNUALIZED SAVINGS OF $40 MILLION IN 2018 AND AN ADDITIONAL $25 MILLION IN 2019.SEALED AIR - CONSTANT DOLLAR SALES INCREASED 24% IN LATIN AMERICA, 18% IN ASIA PACIFIC, 6% IN NORTH AMERICA AND 2% IN EMEA IN QUARTER.CURRENCY HAD A NEGATIVE IMPACT ON TOTAL NET SALES OF 3%, OR $39 MILLION IN QUARTER.  Full Article

Sealed Air Corp Q4 Adjusted Earnings Per Share $0.58
Thursday, 8 Feb 2018 07:00am EST 

Feb 8 (Reuters) - Sealed Air Corp ::SEALED AIR REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS.Q4 ADJUSTED EARNINGS PER SHARE $0.58.Q4 EARNINGS PER SHARE $0.14 FROM CONTINUING OPERATIONS.SEES FY 2018 SALES ABOUT $4.75 BILLION TO $4.8 BILLION.PROVIDES FULL YEAR 2018 OUTLOOK.QTRLY NET SALES $1,227.8 MILLION VERSUS $1,101.4 MILLION.Q4 EARNINGS PER SHARE VIEW $0.57, REVENUE VIEW $1.19 BILLION -- THOMSON REUTERS I/B/E/S.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $2.35 TO $2.45.FY2018 EARNINGS PER SHARE VIEW $2.52, REVENUE VIEW $4.66 BILLION -- THOMSON REUTERS I/B/E/S.CURRENCY IS EXPECTED TO HAVE A FAVORABLE IMPACT OF APPROXIMATELY $110 MILLION ON NET SALES AND $20 MILLION ON ADJUSTED EBITDA IN FY 2018.FY 2018 OUTLOOK FOR FREE CASH FLOW IS APPROXIMATELY $400 MILLION, ASSUMING CAPITAL EXPENDITURES OF APPROXIMATELY $160 MILLION.  Full Article

Sealed Air Q3 earnings per share $0.33 from continuing operations
Wednesday, 8 Nov 2017 07:00am EST 

Nov 8 (Reuters) - Sealed Air Corp :Sealed air reports third quarter 2017 results.Q3 adjusted earnings per share $0.46 from continuing operations.Q3 earnings per share $0.33 from continuing operations.Q3 sales $1.1 billion versus I/B/E/S view $1.11 billion.Q3 earnings per share view $0.47 -- Thomson Reuters I/B/E/S.Sees FY 2017 sales about $4.4 billion.Sealed Air Corp - ‍net sales of $1.1 billion increased 6% on an as reported basis​.Sealed Air Corp sees ‍free cash flow of $400 million for full year 2017​.Sealed Air Corp sees ‍full year 2017 adjusted eps of $1.75 to $1.80 from continuing operations​.FY2017 earnings per share view $1.82, revenue view $4.37 billion -- Thomson Reuters I/B/E/S.Sealed Air - ‍on constant dollar basis, North America sales increased 7%, Asia Pacific was up 3%, and EMEA and Latin America were up 2% for the quarter​.Sealed Air-‍net income in Q3 was "unfavorably" impacted by $24 million of special items,including $9 million restructuring & other associated costs​.Sealed Air Corp - sees ‍FY 2017 capital expenditures of approximately $175 million and cash restructuring payments of approximately $55 million​.  Full Article

CORRECTED-Sealed Air US$475m loan challenges bank appetite

NEW YORK, June 25 (LPC) - Packaging company Sealed Air is wrapping up a US$475m term loan A (TLA) that has challenged banks' return models and pushed the limits on their appetite for funded assets.