CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Sealed Air Corp. (SEE) on Tuesday reported a loss of $7.3 million in its fourth quarter.
The Charlotte, North Carolina-based company said it had a loss of 5 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The packaging company posted revenue of $1.37 billion in the period, which matched Street forecasts.
For the year, the company reported profit of $264.7 million, or $1.81 per share. Revenue was reported as $5.39 billion.
Sealed Air expects full-year earnings in the range of $2.90 to $3.30 per share, with revenue in the range of $5.1 billion to $5.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEE at https://www.zacks.com/ap/SEE
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