Sealed Air Anticipates Incurring Cash Costs Of ~$140M-$160M, For The CTO2Grow Program Initiatives, Including ~$90M-$95M For Headcount Related Costs, $25M-$30M For Contract Termination Charges, $20M-$25M For Other Associated Costs, $5M-$10M Expenditures
Portfolio Pulse from Benzinga Newsdesk
Sealed Air Corporation (SEE) anticipates incurring cash costs of approximately $140M-$160M for the CTO2Grow Program initiatives. These costs include around $90M-$95M for headcount related costs, $25M-$30M for contract termination charges, $20M-$25M for other associated costs, and $5M-$10M for expenditures, according to an SEC filing.
November 03, 2023 | 8:30 pm
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NEGATIVE IMPACT
Sealed Air Corporation is expected to incur significant costs for the CTO2Grow Program initiatives. This could potentially impact the company's earnings in the short term.
The anticipated costs for the CTO2Grow Program initiatives are significant and could potentially impact Sealed Air's earnings in the short term. The costs include headcount related costs, contract termination charges, and other associated costs. This could lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100