Sealed Air Clocks 14% Sales Growth In Q4, Tops Consensus

• Sealed Air Corp (NYSE:SEE) reported fourth-quarter FY21 sales growth of 14% year-on-year, to $1.53 billion, beating the analyst consensus of $1.49 billion.
• On an organic basis, sales in the Americas rose 20% Y/Y, EMEA increased 13%, and APAC gained 4%.
• Adjusted EPS of $1.12 missed the analyst consensus of $1.13.
• The gross profit rose 12% Y/Y to $1.1 billion with a gross profit margin of 31%.
• The operating margin was 19.6%, and operating income for the quarter rose 35.9% to $300.2 million.
• Selling, general and administrative expenses rose 5.2% Y/Y to $204.6 million.
• The company held $561 million in cash and equivalents as of December 31, 2021. The cash flow from operations for the year totaled $710 million.
• Outlook: Sealed Air sees FY22 sales of $5.8 billion - $6 billion, above the consensus of $5.77 billion.
• The company forecasts FY22 Adjusted EPS of $3.95 - $4.15, against the consensus of $4.14.
• Price Action: SEE shares traded higher by 3.75% at $66.55 on the last check Thursday.