SEE Stock: From $50.15 To $54.05 (7.78% Increase) Intraday Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Sealed Air Corp (NYSE: SEE) increased from a previous close of $50.15 to $54.05 (up 7.78%) during intraday trading. This is why it happened.

The stock price of Sealed Air Corp (NYSE: SEE) increased from a previous close of $50.15 to $54.05 (up 7.78%) during intraday trading. Investors are responding positively to the company’s first-quarter 2021 results.

These are the highlights:

— Net sales of $1.3 billion, up 8% as reported; up 6% constant currency

— Net earnings of $106 million, down 8%; EPS of $0.68, down 8%

— Adjusted EBITDA of $268 million, up 6%; Adjusted EPS of $0.78, up 7%

— Cash flow from operations of $80 million, up 95%

KEY QUOTE:

“Our Q1 results reflect strong performance and our focus on automation, digital and sustainability. Net sales increased 8% with strength in eCommerce, food retail and equipment, combined with increasing momentum in industrials. Adjusted EBITDA increased 6% as higher volumes and productivity improvements more than offset global supply chain disruptions related to Winter Storm Uri.” 

“As market opportunities move to a ‘touchless environment,’ customers are looking to Sealed Air’s leadership in automation, service, and high-performance packaging materials. Strong operational execution as well as growth opportunities give us confidence to raise our full year outlook.” 

— Ted Doheny, Sealed Air’s President and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.