SEE 4Q In-Line With Goldman Sachs Estimates And Consensus

Sealed Air Corporation (NYSE: SEE) reported 4Q2010 EPS (excluding one-items) of $0.46, “in line with our estimate and consensus,” Goldman Sachs reports.

“Slightly weaker operating income was offset by modestly lower interest expense and tax rate vs. our forecasts,” Goldman Sachs writes. “Overall, volumes across the Food and Protective Packaging segments were up mid- to high-single digits yoy and were modestly stronger than we forecast.

“However, operating earnings missed our estimates on slightly lower revenues and margins owing to less-favorable price/mix. Looking ahead, SEE expects 2011 EPS will be in the range of $1.75 to $1.90, up from $1.60 in 2010, which reflects 5%-7% revenue growth, partially offset by higher resin costs. SEE expects 2011 free cash flow will exceed $300 mn.”

Sealed Air Corporation closed Monday at $26.83.