$SEE (Sealed Air Corporation)

$SEE {{ '2016-07-14T11:53:08+0000' | timeago}} • Announcement

Packaging solutions company $SEE said it has acquired Tampereen Teollsuussahko Oy (TTS-Ciptec), a Finland-based company that optimizes Cleaning in Place systems for industrial use in beverage and dairy companies. Terms of the transaction were not disclosed. The transaction closed on July 13, 2016 and is not material to $SEE's financial results.

$SEE {{ '2017-07-07T20:58:00+0000' | timeago}} • Announcement

$SEE has declared a quarterly cash dividend of $0.16 per share on its common stock. The dividend is payable on September 15, 2017 to stockholders of record as of September 1, 2017.

$SEE {{ '2017-05-18T20:44:47+0000' | timeago}} • Announcement

$SEE declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on June 16, 2017 to stockholders of record as of June 2, 2017.

$SEE {{ '2017-05-09T19:15:25+0000' | timeago}} • Webcast

$SEE said that it has done technology bolt-on acquisitions in the past and it will continue doing bolt-on acquisitions. However, the company is not planning for any huge M&A now. $SEE expects to do a regional bolt-on to reinforce its Product Care and Food Care divisions.

$SEE {{ '2017-05-09T11:32:03+0000' | timeago}} • Announcement

$SEE expects 2017 adjusted EPS of about $1.70 and assumes an adjusted tax rate of 28% and an estimated 196MM diluted shares outstanding, which is in line with diluted shares outstanding in 1Q17. $SEE sees 2017 free cash flow of about $390MM, including capital expenditures of about $175MM and cash restructuring payments of about $50MM.

$SEE {{ '2017-05-09T11:28:24+0000' | timeago}} • Announcement

$SEE expects 2017 adjusted EBITDA of about $825MM, as compared to $808MM for 2016. This outlook assumes $25MM of costs that were previously allocated to Diversey that were not included in earnings from discontinued operations. Currency is expected to have a negative impact of about $5MM on Adjusted EBITDA in 2017.

$SEE {{ '2017-05-09T11:26:47+0000' | timeago}} • Announcement

$SEE expects 2017 net sales of about $4.3Bil, as compared to $4.2Bil for the full year 2016. This sales performance is based on an expected 3% constant dollar sales growth in Food Care and 3-4% constant dollar sales growth in Product Care. Currency is expected to have a negative impact of $35MM on net sales in 2017.

$SEE {{ '2017-05-09T11:25:43+0000' | timeago}} • Announcement

$SEE slipped to a loss in 1Q17 from a profit last year, due to unfavorable impact of tax expense from pending sale of Diversey to Bain Capital Private Equity. Net loss was $43.2MM or $0.22 per share compared to a profit of $102.4MM or $0.51 per share last year. Sales grew to $1.03Bil from $1.01Bil. Adjusted EPS increased to $0.43 from $0.42.

$SEE {{ '2017-03-28T12:46:26+0000' | timeago}} • Announcement

$SEE agreed to sell its Diversey Care division and the food hygiene and cleaning business within its Food Care division to Bain Capital Private Equity. The board also determined that $SEE will maintain its quarterly cash dividend of $0.16 per common share, while $SEE reduces earnings dilution.

$SEE {{ '2017-03-28T12:43:19+0000' | timeago}} • Announcement

$SEE agreed to sell its Diversey Care division and the food hygiene and cleaning business within its Food Care division to Bain Capital Private Equity for about $3.2Bil. $SEE's BoD authorized a rise of share repurchase program by additional $1.5Bil of common stock. The sale of New Diversey is expected to close in 2H17.

$SEE {{ '2017-02-16T13:53:14+0000' | timeago}} • Announcement

The BoD of $SEE declared a quarterly cash dividend of $0.16 per share. The dividend is payable on March 17, 2017 to stockholders of record as of March 3, 2017.

$SEE {{ '2017-02-09T12:43:44+0000' | timeago}} • Announcement

In mid-Oct. 2016, $SEE announced plans to pursue a tax-free spin-off of its Diversey Care and related food hygiene and cleaning business, or 'New Diversey.' As the company proceed with its plan, it is also exploring other strategic alternatives, including a potential sale of New Diversey.

$SEE {{ '2017-02-09T12:40:52+0000' | timeago}} • Announcement

For 4Q16, $SEE's sales from Food Care division declined 0.2% YoY to $840MM. Diversey Care net sales declined 0.4% to $493MM, whereas Product Care declined 1.7% to 394MM.

$SEE {{ '2017-02-09T12:33:13+0000' | timeago}} • Announcement

$SEE estimates 2017 net sales to be essentially unchanged with 2016, which assumes an unfavorable impact of approx. 3% from foreign currency translation. Adjusted for unfavorable currency, net sales expected to increase approx. 2.5%. Adjusted EPS is expected to be approx. $2.70 for 2017.

$SEE {{ '2017-02-09T12:30:21+0000' | timeago}} • Announcement

$SEE reported a 38% YoY jump in its 4Q16 earnings to $171MM, or $0.87 per diluted share. Excluding special items, the company's earnings remained flat at $0.76 per diluted share. Net sales for the quarter declined 0.6% to $1.7Bil, primarily due to a 0.3% negative impact related to Food Care divestitures.

$AOS {{ '2016-12-13T11:49:42+0000' | timeago}} • Announcement

$AOS has named Dr. Ilham Kadri to its Board of Directors. Dr. Kadri is a Senior Vice President at $SEE and President of the company's Diversey Care Division.

$SEE {{ '2016-10-27T17:06:13+0000' | timeago}} • Webcast

Commenting on the costs for creating new Diversey company, $SEE stated that it is still in the process of preparing the standalone financials. The company added that the financials will be available when it files the Form 10. $SEE doesn’t want to speculate any number at this time.

$SEE {{ '2016-10-27T16:56:53+0000' | timeago}} • Webcast

When asked about whether $SEE thought of selling Diversey Care business, the company said that the Board decided to go for a spin-off. $SEE believes that Diversey Care business will thrive over time as a standalone company.

$SEE {{ '2016-10-27T16:26:56+0000' | timeago}} • Webcast

Revenue for Food Care segment, which accounts for 47.5% of $SEE's sales in 3Q16, was down 2.6% to $814.6MM compared to a year ago. Diversey Care's revenue declined 0.8% to $497.4MM and Product Care's revenue declined 0.2% to $388.6MM.

$SEE {{ '2016-10-27T16:02:53+0000' | timeago}} • Webcast

$SEE reported that its Brand License Agreement with SC Johnson & Son will end in May 2017. The company already started working on developing new partnership with Spectrum Brands and Nakoma Products.

$SEE {{ '2016-10-27T15:52:15+0000' | timeago}} • Webcast

By separating food care, product care and medical business from Diversey Care and related hygiene business, $SEE will have two independent companies (New Sealed Air & New Diversey). Following the completion of the tax-free spin-off, $SEE shareholders will own 100% of the common stock of New Diversey. The transaction is expected to close in 2H17.

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