- 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%
“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.