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 ...

Analysts on Wall Street project that Sealed Air (SEE) will announce quarterly earnings of $0.66 per share in its forthcoming report, representing a decline of 14.3% year over year. Revenues are projected to reach $1.34 billion, declining 2.8% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its ...

CHARLOTTE, N.C., Oct. 17, 2024 /PRNewswire/ -- Sealed Air (NYSE: SEE) announced today that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share. The dividend is payable on December 20, 2024 to stockholders of record at the close of business on December 6, 2024. About Sealed Air Sealed Air Corporation (NYSE: SEE), is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment and services. Sealed Air designs ...

CHARLOTTE, N.C., Oct. 8, 2024 /PRNewswire/ -- Sealed Air (NYSE: SEE) announced today that it will release its third quarter 2024 results at approximately 7:00 a.m. (ET) on Thursday, November 7, 2024 and will host a conference call and webcast at 10:00 a.m. (ET). The conference will be webcast live. Interested parties can view the events on Sealed Air's Investors homepage at www.sealedair.com/investors. About Sealed Air Sealed Air Corporation (NYSE: SEE), is a leading global provider of packaging solutions t ...

Group 1 - Sealed Air Corporation announced the appointment of Anthony (Tony) Allott to its Board of Directors [1] - Tony Allott has extensive experience in the packaging sector, having served as CEO and President of Silgan Holdings Inc. for 16 years [2][5] - Allott's previous roles include Senior Vice President and CFO of Applied Extrusion Technologies, where he played a key role in a significant acquisition [3] Group 2 - Allott holds a Bachelor of Science in business administration from Boston University and is a cofounder of Waypoint Investors, LLC [4] - The Board Chairman of Sealed Air expressed confidence in Allott's ability to create shareholder value and help accelerate the company's transformation [5] - Allott stated his commitment to partnering with the leadership team to achieve long-term profitable growth for Sealed Air [6] Group 3 - Sealed Air is a leading global provider of packaging solutions, generating $5.5 billion in sales in 2023 and employing approximately 17,000 people [7]

CHARLOTTE, N.C., Aug. 30, 2024 /PRNewswire/ -- Sealed Air Corporation (NYSE: SEE) will participate in the following event: 2024 Jefferies Industrials Conference – September 4, 2024, New York, NY 8:40 am ET – Fireside chat Patrick Kivits, CEO Dustin Semach, President and CFO Presentation will be webcast live. Interested parties can view the events on Sealed Air's Investors homepage at www.sealedair.com/investors. About Sealed Air Sealed Air Corporation (NYSE: SEE), is a leading global provider of packaging s ...

Detry26/iStock via Getty Images A year ago, I believed that shares of Sealed Air Corporation (NYSE:SEE) no longer offered a sealed deal. Following a dramatic cut in the full-year guidance, with leverage ratios shooting up as a result of lower profitability, I was cautious on the shares despite the sell-off seen at the time. Forwarding a year in time, shares have on a net basis lost even more value. 2023 turned out to be soft, with continued weakness seen in the 2024 results, with weakness likely continuing ...