Sealed Air Company SEE is scheduled to report third-quarter 2024 outcomes on Nov. 7, earlier than the opening bell.
The Zacks Consensus Estimate for SEE’s third-quarter revenues is pegged at $1.34 billion, indicating a 2.8% decline from the year-ago reported determine.
The consensus estimate for earnings is pegged at 66 cents per share. The Zacks Consensus Estimate for SEE’s third-quarter earnings has been unchanged up to now 60 days. The estimate signifies a year-over-year decline of 14.3%.
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Discover the most recent EPS estimates and surprises on Zacks Earnings Calendar.
SEE’s Strong Earnings Shock Historical past
Sealed Air’s earnings beat the Zacks Consensus Estimates within the trailing 4 quarters, the typical shock being 35.3%.
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What the Zacks Mannequin Signifies for Sealed Air
Our mannequin doesn’t conclusively predict an earnings beat for Sealed Air this time round. The mix of a optimistic Earnings ESP and a Zacks Rank #1 (Robust Purchase), 2 (Purchase) or 3 (Maintain) will increase the percentages of an earnings beat. That’s not the case right here.
Earnings ESP: Sealed Air has an Earnings ESP of 0.00%. You possibly can uncover one of the best shares earlier than they’re reported with our Earnings ESP Filter.
Zacks Rank: The corporate at the moment carries a Zacks Rank of three.
Components More likely to Have Formed SEE’s Q3 Efficiency
Sealed Air’s Protecting phase skilled decrease volumes for 10 consecutive quarters. The corporate expects the weak spot to persist all through 2024 and proceed in 2025. For the Protecting phase, our mannequin signifies a quantity decline of seven% for the third quarter.
After witnessing decrease volumes for seven quarters, the Meals phase’s volumes returned to progress within the first quarter of 2024, pushed by stable demand for baggage, case-ready and automatic options. The impacts of this are anticipated to get mirrored within the third-quarter phase outcomes as properly. Volumes for the segments are additionally more likely to have benefited from the demand for automated gear and sustainable packaging options. Our mannequin tasks the Meals phase’s volumes to rise 3% 12 months over 12 months within the third quarter.
Nonetheless, larger volumes within the phase are more likely to have been offset by continued weak spot within the Protecting phase this 12 months.
Our mannequin estimate for the Meals phase’s third-quarter web gross sales is pegged at $893 million, suggesting a fall of 0.1% from the prior-year interval’s reported determine. The impacts of pricing (adverse 2.5%) are more likely to have offset the positive factors from larger volumes and dented the phase’s high line. Our estimate for the phase’s adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) stands at $196 million, indicating a year-over-year rise of 0.8%.
Our estimate for the Protecting phase’s third-quarter web gross sales is $442 million, implying a year-over-year dip of 9.4%. That is primarily because of the quantity decline and pricing impacts of adverse 2.3%. Our estimate for the phase’s adjusted EBITDA is pegged at $79 million, suggesting a year-over-year lower of 16.8%.
Sealed Air’s general volumes are anticipated to dip 0.5%, per our mannequin. We count on pricing impacts of two.4% for the quarter.
Financial savings from the corporate’s Reinvent SEE Technique initiatives have been driving productiveness positive factors and mitigating supply-chain challenges. That is anticipated to have pushed the working margin efficiency within the September-ended quarter.
Sealed Air’s Worth Efficiency
Up to now 12 months, shares of Sealed Air have gained 10.6% in contrast with the industry’s 27.1% progress.
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Shares to Think about
Listed here are some shares with the correct mixture of components to submit an earnings beat of their upcoming releases.
Osisko Gold Royalties OR, which at the moment carries a Zacks Rank of two, is predicted to report third-quarter 2024 outcomes later this month. OR has an Earnings ESP of +1.59%. You possibly can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for OR’s earnings for the quarter is pegged at 11 cents per share, indicating 22% year-over-year progress. It has a trailing four-quarter common earnings shock of 4.1%.
Tenaris S.A. TS has an Earnings ESP of +10.22% and a Zacks Rank of three at current. The corporate is scheduled to launch third-quarter 2024 outcomes on Nov. 6.
The Zacks Consensus Estimate for TS’s quarterly earnings is pegged at 63 cents per share, suggesting a 30.8% year-over-year decline. It has a trailing four-quarter common earnings shock of 11.6%.
Woodward, Inc. WWD has an Earnings ESP of +1.86% and a Zacks Rank of three at current. The corporate is slated to launch third-quarter 2024 outcomes on Nov. 25.
The Zacks Consensus Estimate for WWD’s earnings for the quarter is pegged at $1.22 per share, implying an 8.2% year-over-year dip. It has a trailing four-quarter common earnings shock of 18.5%.
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Free: See Our Top Stock And 4 Runners Up
Sealed Air Corporation (SEE) : Free Stock Analysis Report
Woodward, Inc. (WWD) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
Osisko Gold Royalties Ltd (OR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
