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]

Q3 2024 Performance - Sealed Air's Q3 sales decreased by 3% as reported, with an organic decline of 2% due to lower pricing in both segments[5,8] - Q3 Adjusted EBITDA was $276 million, a 3% decrease as reported[5,8] - The Adjusted EBITDA margin was 205%, down 10 bps, primarily due to lower volume and unfavorable net price realization in Protective, partially offset by lower operating costs[8] Segment Performance - Food segment organic sales increased by 1%, driven by volume growth in all regions, partially offset by unfavorable pricing[9] - Food segment Adjusted EBITDA was $206 million, up 6% as reported, with an Adjusted EBITDA margin of 229%, up 120 bps[9] - Protective segment organic sales decreased by 8%, driven by unfavorable pricing and continued weakness across the portfolio[9] - Protective segment Adjusted EBITDA was $75 million, down 21% as reported, with an Adjusted EBITDA margin of 169%, down 260 bps[9] YTD 2024 Performance - Sealed Air's YTD sales decreased by 2% as reported, with an organic decline of 2% due to lower pricing in both segments[23,26] - YTD Adjusted EBITDA was $840 million, up 1% as reported[25,26] - Food segment YTD organic sales increased by 1% and Protective segment YTD organic sales decreased by 8%[28] Financial Position and Outlook - YTD Free Cash Flow was $323 million[14] - The company targets net debt / Adjusted EBITDA to below 35x by the end of 2025, with Q3 2024 net debt / Adjusted EBITDA at approximately 37x[14,20] - The 2024 outlook includes net sales of $5375 - $5425 billion, Adjusted EBITDA of $109 - $111 billion, Adjusted EPS of $300 - $310, and Free Cash Flow of $350 - $450 million[15]

Sealed Air Corporation (SEE) reported third-quarter 2024 adjusted earnings per share (EPS) of 79 cents, which surpassed the Zacks Consensus Estimate of 66 cents by a margin of 19.7%. The bottom line increased 2.6% year over year.SEE’s results benefited from its cost take-out to grow program (CTO2Grow Program) and cost-control initiatives. Improvement in the Food segment’s results were offset by the continued weakness in the Protective segment.Including special items, the company delivered EPS from continuin ...

For the quarter ended September 2024, Sealed Air (SEE) reported revenue of $1.35 billion, down 2.7% over the same period last year. EPS came in at $0.79, compared to $0.77 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.34 billion, representing a surprise of +0.19%. The company delivered an EPS surprise of +19.70%, with the consensus EPS estimate being $0.66.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Sealed Air (SEE) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.70%. A quarter ago, it was expected that this packaging company would post earnings of $0.64 per share when it actually produced earnings of $0.83, delivering a surprise of 29.69%.Over the last four quarters, the comp ...