Sealed Air posted in-line earnings of 65 cents per share on revenue of $1.73 billion, falling just short of analysts projected $1.74 billion.
"We are delivering on 2016 objectives, and expect stronger performance in the second half of the year," said Sealed Air CEO Jerome A. Peribere in a statement. "We also anticipate less currency headwinds then previously forecasted."
Last year, the company posted earnings of 60 cents per share on revenue of $1.78 billion for the second quarter.
Sealed Air increased its full year 2016 sales guidance to approximately $6.85 billion. Full year adjusted earnings are projected to be in the range of $2.52 to $2.60, the company added.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SEALED AIR CORP as a Buy with a ratings score of B-. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: SEE