Sealed Air meets 3Q profit forecasts

CHARLOTTE, N.C. (AP) _ Sealed Air Corp. (SEE) on Wednesday reported third-quarter net income of $787.4 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $4.15. Earnings, adjusted to account for discontinued operations, came to 46 cents per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.

The packaging company posted revenue of $1.13 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.11 billion.

Sealed Air expects full-year earnings in the range of $1.75 to $1.80 per share, with revenue expected to be $4.4 billion.

Sealed Air shares have declined roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. The stock has fallen 5 percent in the last 12 months.

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