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Bubble Wrap parent Sealed Air beats on sales but misses on profit

32728 bubble wrap parent sealed air beats on sales but misses on profit

Bubble Wrap maker Sealed Air reported fourth-quarter net income totaling $180.9 million, or $1.20 per share, up from $142.2 million, or 91 cents per share, last year. Adjusted EPS of $1.12 missed the FactSet consensus for $1.13. Sales of $1.532 billion were up from $1.341 billion and ahead of the FactSet consensus for $1.489 billion. For full-year 2022, Sealed Air is guiding for sales in the range of $5.8 billion to $6.0 billion and adjusted EPS in the range of $3.95 to $4.15. The FactSet consensus is for sales of $5.770 billion and EPS of $4.14. Sealed Air shares slipped 0.6% in Thursday premarket trading and have run up 47.8% over the last year. The S&P 500 index SPX, +0.09% is up 13.8% for the past 12 months.

Source: Marketwatch

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