Despite strong earnings, Sealed Air’s stock drops on disappointing outlook for 2020

//Despite strong earnings, Sealed Air’s stock drops on disappointing outlook for 2020

Despite strong earnings, Sealed Air’s stock drops on disappointing outlook for 2020

Sealed Air Corp. ended 2019 strong as fourth-quarter earnings beat expectations. But its guidance for 2020 was a disappointment and sent its stock (NYSE: SEE) to near its 52-week low. In comments to analysts, CEO Ted Doheny emphasized the performance of his Reinvent SEE initiative. He and CFO Jim Sullivan credited it with producing $168 million worth of benefits in 2019. Margins on the year grew 120 basis points to 20.9% in the fourth quarter, in part because of the effort. And the executives said…

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By | 2020-02-11T23:11:26+00:00 February 11th, 2020|Budget and Tax|

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