Sealed Air Underwhelms on Volume Growth, but 2018 Outlook Is Unchanged
Sealed Air's second quarter was decent, with organic sales up nearly 6% versus the prior year, and adjusted EBITDA up 11% over the same period. The company also announced the acquisition of AFP, a private packaging company that produces packaging made from a wide variety of substrates in the U.S., Mexico, and Asia. The company disclosed neither profitability nor the purchase price of the business, leaving us somewhat concerned that management overpaid. Although our financial forecasts remain unc...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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