Sealed Air Reports Soft Volumes in 1Q and APS Acquisition Inspires Skepticism; Lowering FVE to $47
Sealed Air's results in the first quarter were mildly disappointing versus our broader outlook for 2019. Volumes stagnated in the Food Care business, but the company was able to improve price/mix due to both price increases and resin price declines. Product Care results were more disappointing, with volumes off 4% versus the prior year on industrial weakness. The most concerning announcement was the purchase of Automated Packaging Systems, or APS, with almost no financial disclosures. We've upda...Sealed Air is a global provider of packaging solutions for the food, e-Commerce, electronics and industrial markets. The company serves an array of end markets including food and beverage processing, food service, retail, commercial and consumer applications, by providing food safety and security, product protection and equipment. The company's segments include: Food Care, which serves perishable food processors, predominantly in chilled, smoked and processed meat, poultry and dairy-solid markets worldwide, and maintains positions in target applications; and Product Care, in which its solutions are designed to protect goods in shipping.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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