CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Sealed Air Corp. (SEE) on Tuesday reported first-quarter profit of $61.9 million.
The Charlotte, North Carolina-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 74 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The packaging company posted revenue of $1.35 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.36 billion.
Sealed Air expects full-year earnings in the range of $3.50 to $3.80 per share, with revenue in the range of $5.85 billion to $6.1 billion.
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