Sealed Air Corp. reported better-than-expected earnings for its third quarter as its restructuring has shown higher savings.

The company reported earnings of $79 million, or 50 cents per share. Adjusted for one-time gains and costs, earnings were 61 cents, which were better than analyst expectations of earnings of 60 cents per share.

Revenue for the quarter totaled $1.19 billion, which matched expectations.

“Given recent business and market dynamics, we accelerated actions under our existing restructuring program,” said CEO Ted Doheny in a statement. “As a result, we now expect annualized savings of $40 million in 2018, $10 million above prior expectations, and an additional $25 million in annualized savings in 2019.

“Furthermore, we are identifying additional opportunities to redesign our operating model and improve our performance,” he added. “We expect to announce a more detailed plan before year-end.”

The company said it expects 2018 revenue to be $4.7 billion and earnings between $2.40 per share and $2.45 per share. Both numbers are in line with current analyst estimates.

Doheny said: “We clearly see the power of our iconic brands, differentiated technology, leading market positions and deep customer relationships with more value to be captured in existing and adjacent markets.”

Doheny assumed the position of president and CEO on Jan. 1. He previously worked for the company as chief operation officer as the CEO-designate.

Sealed Air Corporation focuses on packaging solutions that provide sustainability. Included in its portfolio are brands such as Cryovac and Bubble Wrap.

Its stock closed Thursday at $33.50, up almost 4 percent.