Sealed Air's Sales To Be Hurt More Than Expected By Currency Movments

By MarketWatch Pulse

Sealed Air Corp. said on Friday its 2015 sales would be hurt more than previously expected by unfavorable currency movements, according to a regulatory filing. The bubble wrap maker now expects currency movements to reduce sales to by nearly $800 million, compared with a previous forecast of about $700 million. The company expects currency translation to lower 2015 adjusted earnings before interest, taxes, depreciation and amortization by about $125 million, compared with a previous expectation of $110 million. The stock, which fell 1.3% in morning trade, has run up 19% year to date, while the S&P 500 has shed 4.4%.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below