Sealed Air lowers FY23 EPS view to $2.75-$2.95 from 3.50 to $3.80

Consensus for FY23 EPS is $3.43 p/s.For the full year 2023, SEE now expects net sales in the range of $5.40 to $5.60 billion, compared to the previous outlook of $5.85 to $6.10 billion. Both outlooks include a favorable impact of the Liquibox acquisition of approximately 5% and 6%, respectively, and unfavorable currency impact of approximately 1%. The Company now expects full year Adjusted EBITDA to be in the range of $1.075 to $1.125 billion, compared to the previous outlook of $1.25 to $1.30 billion. Both outlooks include a favorable impact of the Liquibox acquisition of approximately 6% and 8%, respectively, and unfavorable currency impact of less than 1% and approximately 1%, respectively. Consensus for FY23 revenue is $5.86B.