SEE - Sealed Air slides after weak Q4 but company sees sales rebound this year

Sealed Air ( NYSE: SEE ) -3.8% in Thursday's trading after reporting mostly weak Q4 results while forecasting a sales rebound this year, helped by its recent deal for food packaging company Liquibox.

Q4 net earnings were sliced in half to $94.3M, or $0.65/share, from $180.9M, or $1.21/share, the year-earlier quarter, and net sales slipped 8% to $1.4B, or down 4% constant currency.

Q4 adjusted EBITDA fell 10% to $297M, or down 7% constant currency; analyst consensus estimates was $302.7M.

For FY 2023, Sealed Air ( SEE ) guided for adjusted EPS of $3.50-$3.80 on sales of $5.85B-$6.1B, well below analyst consensus estimates of $4.10 EPS but above consensus of $5.82B in revenues.

"We are continuing to face a challenging macroeconomic environment, especially in the first half of 2023," CEO Ted Doheny said, adding the Liquibox acquisition boosts confidence that the company can grow.

Sealed Air ( SEE ) shares are roughly flat so far this year while declining 22% during the past year .

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