Core Insights - Sealed Air Corporation (SEE) reported fourth-quarter 2024 adjusted earnings per share of 75 cents, exceeding the Zacks Consensus Estimate of 67 cents, although it represented a 14.8% decline year over year due to increased adjusted tax expenses [1] - Total sales for the quarter were $1.37 billion, slightly above the Zacks Consensus Estimate of $1.36 billion, but down 0.3% from $1.38 billion in Q4 2023 [2] - The company expects net sales for 2025 to be between $5.1 billion and $5.5 billion, with adjusted EBITDA projected at $1.075 billion to $1.175 billion [12] Financial Performance - Gross profit for Q4 was $407 million, a 0.5% increase from $405 million in the same quarter last year, with a gross margin improvement to 29.6% from 29.4% [4] - Adjusted EBITDA for the quarter was approximately $271 million, down 1.3% year over year, with an adjusted EBITDA margin of 19.7% compared to 19.9% in the previous year [5] - Cash flow from operating activities was around $728 million in 2024, an increase from $516 million in the prior year, with total debt reduced to $4.40 billion from $4.69 billion [10] Segment Performance - In the Food segment, net sales increased 3.3% year over year to $922.5 million, driven by a 4.9% volume growth, despite a 1.8% unfavorable impact from foreign currency [6] - The Protective segment saw net sales decline by 7.1% year over year to $450 million, with volumes falling 5.4% due to market pressures [7] - Adjusted EBITDA for the Protective segment decreased 26% year over year to $67 million, impacted by lower volumes and unfavorable net price realization [8] Market Context - Sealed Air's shares have decreased by 8.9% over the past year, contrasting with the industry's growth of 12.3% [13] - The company’s adjusted earnings per share for 2023 was $3.14, down 1.3% year over year, while total sales for 2024 edged down 1.8% to $5.39 billion [11]

Core Insights - Sealed Air reported revenue of $1.37 billion for the quarter ended December 2024, a slight decline of 0.3% year-over-year, with EPS at $0.75 compared to $0.88 in the same quarter last year [1] - The revenue matched the Zacks Consensus Estimate, showing a surprise of +0.55%, while the EPS exceeded expectations by +11.94% [1] Financial Performance - Net Sales in the Food segment reached $922.50 million, surpassing the average estimate of $916.38 million, reflecting a year-over-year increase of +3.4% [4] - Net Sales in the Protective segment were $450.30 million, slightly below the estimated $454.51 million, marking a year-over-year decline of -7.1% [4] - Adjusted EBITDA for the Food segment was $207.60 million, exceeding the average estimate of $195.59 million [4] - Adjusted EBITDA for Corporate expenses and unallocated costs was -$3.50 million, better than the average estimate of -$11.24 million [4] - Adjusted EBITDA for the Protective segment was $66.70 million, below the average estimate of $75.42 million [4] Stock Performance - Sealed Air's shares have declined by -9.9% over the past month, contrasting with the Zacks S&P 500 composite's decline of -1.8% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - Sealed Air (SEE) reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, but down from $0.88 per share a year ago, indicating an earnings surprise of 11.94% [1][2] Financial Performance - The company achieved revenues of $1.37 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.55%, although this is a slight decrease from year-ago revenues of $1.38 billion [2] - Over the last four quarters, Sealed Air has consistently surpassed consensus EPS estimates [2] Stock Performance and Outlook - Sealed Air shares have declined approximately 5% since the beginning of the year, contrasting with the S&P 500's gain of 1.7% [3] - The company's current Zacks Rank is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $0.71 on revenues of $1.31 billion, and for the current fiscal year, it is $3.05 on revenues of $5.38 billion [7] Industry Context - The Containers - Paper and Packaging industry, to which Sealed Air belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Financial Performance - Net sales for Q4 2024 were $1.37 billion, flat compared to Q4 2023, with a 3% increase in the Food segment and a 7% decrease in the Protective segment[6]. - Full year 2024 net sales decreased by 2% to $5.39 billion, with the Food segment increasing by 2% and the Protective segment decreasing by 8%[10]. - Adjusted EBITDA for Q4 2024 was $271 million, or 19.7% of net sales, compared to $274 million, or 19.9% in Q4 2023[9]. - Full year 2024 adjusted EBITDA increased slightly to $1.11 billion, or 20.6% of net sales, from $1.11 billion, or 20.2% in the prior year[14]. - Operating profit for Q4 2024 was $159.0 million, a decrease of 24.7% compared to $211.2 million in Q4 2023[32]. - Net loss for Q4 2024 was $7.3 million, compared to net earnings of $124.0 million in Q4 2023[32]. - Basic net loss per share for Q4 2024 was $(0.05), while basic earnings per share for Q4 2023 was $0.86[32]. - The company reported a GAAP net earnings from continuing operations of $(0.4) million for Q4 2024, compared to $124.9 million in Q4 2023[46]. - For the year ended December 31, 2024, GAAP earnings before income tax from continuing operations was $458.4 million, compared to $429.7 million in 2023, reflecting a 6.5% increase[47]. - Non-GAAP adjusted net earnings for the year ended December 31, 2024, were $458.9 million, with diluted EPS of $3.14, compared to $461.3 million and diluted EPS of $3.18 in 2023, indicating a slight decrease in earnings[48]. Cash Flow and Leverage - Free cash flow for full year 2024 was $454 million, compared to $467 million in the prior year[18]. - The net leverage ratio improved to 3.6x as of December 31, 2024, down from 3.9x a year earlier[20]. - Free cash flow for the year ended December 31, 2024, was $507.8 million, an increase from $272.0 million in 2023[38]. - The total debt as of December 31, 2024, was $4,403.9 million, down from $4,690.3 million in 2023, resulting in a non-GAAP net debt of $4,032.1 million[51]. Segment Performance - The company completed a reorganization into two market-focused businesses: Food and Protective, aiming to maximize growth in respective end-markets[3]. - The food segment's adjusted EBITDA for 2024 was $807.7 million, reflecting a margin of 22.5%, up from 21.8% in 2023[46]. - The protective segment's adjusted EBITDA decreased to $313.5 million in 2024, with a margin of 17.3%, down from 18.4% in 2023[46]. - The company anticipates 2024 net sales to be $5,392.6 million, with food segment projected at $3,526.1 million (65.4%) and protective segment at $1,107.9 million (20.5%) [44]. Restructuring and Costs - Cost take-out initiatives generated $89 million in incremental savings for full year 2024, contributing to improved operational efficiency[5]. - The company incurred restructuring charges of $33.0 million in Q4 2024, compared to $6.4 million in Q4 2023[32]. - Restructuring charges for the year ended December 31, 2024, totaled $57.8 million, up from $15.6 million in 2023, reflecting increased costs associated with restructuring efforts[49]. Assets and Liabilities - Total assets decreased to $7,022.1 million as of December 31, 2024, from $7,200.6 million as of December 31, 2023[34]. - Total liabilities decreased to $6,397.6 million as of December 31, 2024, from $6,651.1 million as of December 31, 2023[34]. - Cash and cash equivalents increased to $371.8 million as of December 31, 2024, from $346.1 million as of December 31, 2023[34]. Taxation - The GAAP effective income tax rate for the year ended December 31, 2024, was 41.2%, significantly higher than 21.0% in 2023[47]. - Non-GAAP adjusted income tax rate for the year ended December 31, 2024, was 25.9%, compared to 23.6% in 2023, indicating an increase in the effective tax burden[47]. Currency Impact - Foreign currency translation negatively impacted total change (GAAP) by $(35.7) million (-0.7%) for the year ended December 31, 2023[42]. - The company incurred a foreign currency exchange loss of $9.9 million for the year ended December 31, 2024, compared to $23.1 million in 2023, indicating a reduction in losses from currency fluctuations[49].

Core Viewpoint - Sealed Air Corporation (SEE) is expected to report a decline in both revenue and earnings for the fourth quarter of 2024, with challenges in its Protective segment impacting overall performance [2][6]. Financial Performance Estimates - The Zacks Consensus Estimate for SEE's fourth-quarter revenues is $1.37 billion, reflecting a 0.9% decrease from the previous year [2]. - The consensus estimate for earnings is 67 cents per share, indicating a year-over-year decline of 23.9% [2]. - The earnings estimate has decreased by 1.5% over the past 60 days [2]. Earnings Surprise History - Sealed Air has a history of beating Zacks Consensus Estimates, with an average surprise of 34.6% over the last four quarters [3]. Segment Performance - The Protective segment has faced lower volumes for 11 consecutive quarters, with a projected year-over-year volume decline of 5% for Q4 [6]. - The Food segment, after experiencing lower volumes for seven quarters, is expected to see a 4.8% year-over-year volume increase in Q4, driven by demand for bags and automated solutions [7]. - The estimated net sales for the Food segment in Q4 are $912 million, representing a 2.2% growth from the prior year, despite a negative pricing impact of 2.1% [9]. - The Protective segment's estimated net sales for Q4 are $445 million, indicating an 8.2% year-over-year decline due to volume and pricing impacts [10]. Operational Efficiency - Savings from the company's Reinvent SEE Strategy are expected to enhance productivity and mitigate supply-chain challenges, positively influencing operating margins in Q4 [11]. Stock Performance - Over the past year, SEE shares have decreased by 3.6%, contrasting with the industry's growth of 15.5% [12].

Core Viewpoint - Sealed Air Corporation has appointed Dustin Semach as the new President and Chief Executive Officer, effective immediately, following the mutual agreement for Patrick Kivits to step down from his role [1][2][4]. Leadership Transition - Dustin Semach, previously the President and Chief Financial Officer, will now lead the company, while Veronika "Roni" Johnson has been appointed as the Interim Chief Financial Officer [3]. - The company is actively searching for a new Chief Financial Officer with the assistance of a leading executive search firm [3]. Strategic Focus - The Board of Directors emphasizes the need for a leader with a deep understanding of the business and a strong sense of urgency to drive the next phase of transformation [4]. - The company aims to enhance customer focus, drive profitable growth, streamline operations, and effectively deploy capital to maximize shareholder value [4]. Business Segmentation - Sealed Air has reorganized into two distinct business segments: Food and Protective, which is expected to enhance growth prospects through better customer partnerships and innovation [4]. Financial Outlook - Sealed Air reaffirms its financial guidance for the full year 2024, with further discussions on financial results scheduled for February 25, 2025 [5]. Company Overview - Sealed Air Corporation is a leading global provider of packaging solutions, generating $5.5 billion in sales in 2023 and employing approximately 17,000 people across 115 countries [6].

Company Overview - Sealed Air Corporation (NYSE: SEE) is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment, and services [2] - The company designs, manufactures, and delivers packaging solutions for various end markets, including food preservation, goods protection, and automated packaging processes [2] - In 2023, Sealed Air generated $5.5 billion in sales and employs approximately 17,000 people serving customers in 115 countries/territories [2] Upcoming Financial Results - Sealed Air will release its fourth quarter and full year 2024 results and 2025 outlook on February 25, 2025, at approximately 7:00 a.m. EST [1] - A conference call and webcast will follow at 10:00 a.m. EST, which will be available live on Sealed Air's Investors homepage [1]

Company Overview - Seeing Machines Limited is an advanced computer vision technology company specializing in AI-powered operator monitoring systems to enhance transport safety [1] - The company develops and licenses proprietary technology to leading automotive manufacturers and partners with major automotive and aviation industry brands [7] - Its technology precisely measures and analyzes head pose, eyelid movements, and eye gaze under various lighting conditions, including through sunglasses [7] - The data is processed to interpret driver attention state, drowsiness, and impairment levels, providing real-time inputs to advanced driver assistance systems (ADAS) and vehicle cockpit systems [7] CES 2025 Participation - Seeing Machines will showcase its world-leading interior sensing technology at CES 2025 in Las Vegas [1] - The company will demonstrate its next-generation software and algorithm developments for its FOVIO driver and occupant monitoring system (DMS/OMS) technology [2] - Demonstrations will be held in a private suite at the Westgate Las Vegas Resort and Casino and in a purpose-built test car [2] - The company will also present growth opportunities created by its recent collaboration with Mitsubishi [2] Technology and Partnerships - Seeing Machines' DMS and OMS technology is integrated into Tier 1 customer and partner demonstrations at CES [3] - The company's Guardian Generation 3 software will be featured at Ambarella's invitation-only exhibition, leveraging Ambarella's CV25 AI SoC for industry-leading AI performance per watt [3] - The company is integrating its interior sensing technology with QNX® Cabin, enabling OEMs to monitor driver drowsiness and distraction, ensuring compliance with international safety regulations [4] Regulatory and Market Impact - New laws mandating in-vehicle technology to monitor driver distraction and fatigue are driving regulatory momentum [5] - Seeing Machines has won 18 automotive programs for 11 individual OEMs, supported by over 18 billion kilometers of driving data [5] - The company collaborates with regulators and consumer safety bodies globally, leveraging its human factors team and AI-powered data to reduce road fatalities [5] Future Outlook - Seeing Machines' leadership and technical experts will explain how new regulations are driving innovation toward enhanced road safety at CES [6] - The company continues to expand its occupant monitoring features as Tier-1 and OEM customers adopt higher resolution wide field of view cameras [7]

Over 11.6 million risky driving events recorded across 3.6 billion kilometres of travel in 12 months More than 600,000 instances of mobile device use while driving were detected On average, Guardian captured over 51 fatigue events per hour and more than 5 distracted driving events every minute Human analysts confirm every single event and operate 24/7, offering industry leading intervention to get drivers home safely CANBERRA, Australia, Dec. 4, 2024 /PRNewswire/ -- Seeing Machines Limited (AIM: SEE), the a ...

Financial Performance - Net sales for Q3 2024 were $1,345.1 million, a decrease of 2.6% compared to $1,381.8 million in Q3 2023[8] - Gross profit for Q3 2024 was $401.5 million, down from $413.3 million in Q3 2023, reflecting a gross margin of 29.8%[8] - Operating profit increased to $186.3 million in Q3 2024, compared to $157.6 million in Q3 2023, representing a growth of 18.2%[8] - Net earnings from continuing operations for Q3 2024 were $88.7 million, up 54% from $57.6 million in Q3 2023[8] - Net earnings for the three months ended September 30, 2024, were $91.7 million, compared to $56.6 million for the same period in 2023, representing a 62.5% increase[182] - Basic net earnings per common share for the three months ended September 30, 2024, were $0.63, up from $0.39 in 2023, reflecting a 61.5% increase[182] Assets and Liabilities - Total current assets increased to $2,059.5 million as of September 30, 2024, compared to $1,963.3 million as of December 31, 2023, reflecting a growth of 4.9%[7] - Total liabilities decreased to $6,549.9 million from $6,651.1 million, a reduction of 1.5%[7] - The total assets of the company increased to $7,321.1 million from $7,200.6 million, reflecting a growth of 1.7%[7] - Stockholders' equity increased to $771.2 million, compared to $549.5 million, reflecting a significant growth of 40.3%[7] - Retained earnings rose to $680.1 million, up from $496.5 million, an increase of 37.0%[7] Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2024, was $483.8 million, significantly higher than $192.5 million for the same period in 2023[14] - The company reported a net cash used in investing activities of $165.2 million for the nine months ended September 30, 2024, compared to $1,326.0 million in the same period of 2023[14] - Proceeds from long-term debt for the nine months ended September 30, 2024, amounted to $413.4 million, compared to $1,411.4 million in the same period of 2023[14] - The balance of cash and cash equivalents at the end of the period was $386.0 million, an increase from $281.3 million at the end of the same period in 2023[14] Segment Performance - Food segment net sales increased to $897.9 million in Q3 2024, up from $893.4 million in Q3 2023, representing a growth of 0.5%[58] - Protective segment net sales decreased to $447.2 million in Q3 2024, down from $488.4 million in Q3 2023, a decline of 8.5%[58] - Total segment adjusted EBITDA for Q3 2024 was $281.4 million, a decrease of 2.7% from $289.3 million in Q3 2023[59] - Food segment adjusted EBITDA margin improved to 22.9% in Q3 2024, compared to 21.7% in Q3 2023[59] - Protective segment adjusted EBITDA margin decreased to 16.9% in Q3 2024, down from 19.5% in Q3 2023[59] Debt and Financing - The company reported a current portion of long-term debt of $58.1 million, up from $35.7 million, indicating a rise of 62.5%[7] - Total debt outstanding as of September 30, 2024, is $4.5318 billion, a decrease from $4.6903 billion at December 31, 2023[95] - The company issued $400 million in senior notes due 2032 with a 6.500% interest rate, maturing on July 15, 2032[99] - The weighted average interest rate on long-term debt outstanding as of September 30, 2024, is 5.5%[96] Dividends and Share Repurchase - Dividends paid on common stock for the nine months ended September 30, 2024, were $88.8 million, slightly lower than $88.9 million in the same period of 2023[14] - The company has a remaining share repurchase authorization of $536.5 million as of September 30, 2024, with no shares repurchased during the three and nine months ended September 30, 2024[159][160] - The company declared quarterly cash dividends of $0.20 per common share, totaling $29.1 million, for each of the three months ended September 30, 2024[162][163] Accounting and Compliance - The Condensed Consolidated Financial Statements are prepared in accordance with SEC interim reporting requirements, with certain annual footnotes and financial information omitted[18] - The Company emphasizes that actual results could differ from estimates made in the preparation of the Condensed Consolidated Financial Statements[18] - There were no significant changes to the accounting policies as disclosed in the 2023 Form 10-K[20] Market and Strategic Focus - Sealed Air Corporation focuses on sustainable packaging solutions across various end markets, including food, medical, and e-commerce[15] - The company’s portfolio includes well-known brands such as CRYOVAC, LIQUIBOX, and BUBBLE WRAP, emphasizing its competitive strengths in high-performance packaging solutions[16] - The company anticipates continued growth initiatives and market expansion in the upcoming quarters, although specific numerical guidance was not provided[4]