RTTNews | Aug 6, 2020 10:38AM EDT

10:38 Thursday, August 6, 2020 (RTTNews.com) - Sealed Air Corp. (SEE) shares are rising on Thursday as the company reported a surge in the second-quarter earnings that beat the Street estimates. SEE is currently at $39.97, up 9.07 percent from the previous close of $36.64. For the second quarter, the company posted earnings of $100.1 million, a sharp rise from $33.2 million a year ago. On a per-share basis, earnings were $0.64, up from $0.21 last year. Revenue for the quarter, however, declined to $1.151 billion from $1.161 billion a year ago. Analysts were looking for earnings of $0.57 per share on revenue of $1.09 billion.

Looking ahead, for the full year, the company projects adjusted earnings per share in the range of $2.85-$2.95. Wall Street expects $2.72 per share on revenue of $4.68 billion. Net sales guidance for the full year is in a range of $4.725 billion to $4.775 billion, compared with its previous guidance of $4.9 billion to $4.95 billion.

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