Sealed Air Slumps After Q2 Revenue Decline, Downbeat Annual Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Sealed Air Corporation (NYSE:SEE) reported a Q2 FY23 sales decrease of almost 3% YoY to $1.38 billion, missing the consensus of $1.42 billion. Adjusted EPS of $0.80 beat the analyst consensus of $0.68. The company cut its FY23 revenue guidance from $5.85 billion - $6.10 billion to $5.40 billion - $5.60 billion. The FY23 adjusted EPS outlook was also reduced from $3.50 - $3.80 to $2.75 - $2.95. SEE shares traded lower by 5.46% at $41.67.
August 08, 2023 | 1:46 pm
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Sealed Air Corporation reported lower Q2 FY23 sales and cut its FY23 revenue and EPS outlook. This led to a decrease in SEE shares by 5.46%.
Sealed Air Corporation reported a decrease in Q2 FY23 sales and cut its FY23 revenue and EPS outlook. This negative financial performance and outlook have led to a decrease in the company's share price.
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