SEE - Sealed Air slips as full-year sales adjusted EBITDA seen at low end of guidance

Sealed Air ( NYSE: SEE ) -1.4% in Tuesday's trading after disclosing a guidance update for FY 2022 that expects full-year net sales and adjusted EBITDA to come in near the low end of previous guidance of $5.65B-$5.75B and $1.21B-$1.23B, respectively, while maintaining its view of full-year adjusted earnings of $4.00-$4.15/share.

The company also lowered its outlook for full-year free cash flow to $365M-$385M from $460M-$500M, driven primarily by a reduction of accounts payable balances due to moderation of purchasing activities tied to inventory reduction initiatives in Q4.

For Q3, Sealed Air ( SEE ) reported better than expected adjusted EPS of $0.98 on revenues of $1.4B .

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