Earnings Projections - Analysts project Sealed Air (SEE) will announce quarterly earnings of $0.64 per share, reflecting a 20% decline year over year [1] - Revenues are expected to reach $1.31 billion, a decrease of 5.3% from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a reevaluation of initial estimates by analysts [1] Key Metrics Estimates - Estimated 'Net Sales- Food' is projected at $848.56 million, indicating a change of -3.6% from the prior-year quarter [4] - 'Net Sales- Protective' is expected to reach $457.66 million, suggesting an 8.5% decline year over year [4] - 'Adjusted EBITDA- Food' is anticipated to be $180.82 million, compared to $191 million from the previous year [4] - 'Adjusted EBITDA- Protective' is projected at $85.45 million, down from $95.90 million in the same quarter last year [5] Market Performance - Over the past month, shares of Sealed Air have returned +0.8%, while the Zacks S&P 500 composite has declined by -6.7% [5] - Sealed Air currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [5]

Analyst Downgrades and Price Target Changes - Baird analyst Andrew Wittmann downgraded Cintas Corporation (CTAS) from Outperform to Neutral, while increasing the price target from $750 to $775. Cintas shares gained 5.4% to settle at $758.97 [3] - RBC Capital analyst Arun Viswanathan downgraded Sealed Air Corporation (SEE) from Outperform to Sector Perform, cutting the price target from $43 to $40. Sealed Air shares fell 1.3% to close at $36.39 [3] - Stephens & Co. analyst Jim Salera downgraded Chuy's Holdings, Inc. (CHUY) from Overweight to Equal-Weight, but raised the price target from $36 to $37.5. Chuy's shares climbed 47.8% to close at $37.34 [3] - JP Morgan analyst Tien-Tsin Huang downgraded WNS (Holdings) Limited (WNS) from Overweight to Neutral, maintaining a price target of $60. WNS shares dipped 3.5% to close at $57.95 [3] - Janney Montgomery Scott analyst Timothy Coffey downgraded Banner Corporation (BANR) from Buy to Neutral. Banner shares fell 1.4% to close at $58.49 [3]

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, medical, e-commerce, and industrial sectors [2] - In 2023, SEE generated $5.5 billion in sales and employs approximately 17,000 people across 115 countries/territories [2] Upcoming Financial Results - SEE will release its second quarter 2024 results on August 8, 2024, at approximately 7:00 a.m. (ET) [1] - A conference call and webcast will follow at 10:00 a.m. (ET) on the same day, which will be available on SEE's Investors homepage [1] Investor Communication - The company routinely posts important information for investors on its website, particularly in the Investors section [2] - This includes press releases, SEC filings, public conference calls, presentations, and webcasts [2]

CHARLOTTE, N.C., June 28, 2024 /PRNewswire/ -- Sealed Air Corporation ("SEE") (NYSE: SEE) today announced, together with Sealed Air Corporation (US) (together with SEE, the "Issuers"), the closing of their previously announced offering of $400 million aggregate principal amount of 6.500% senior notes due 2032 (the "Notes"). The Notes were sold to investors at 100.0% of their aggregate principal amount. The Notes are jointly and severally, and irrevocably and unconditionally, guaranteed on a senior unsecured ...

Core Points - Sealed Air Corporation announced the expiration of its cash tender offer for its 5.500% senior notes due 2025, which ended on June 24, 2024 [1] - A total of $277,801,000, or 69.45% of the outstanding principal amount of the notes, was validly tendered [1] - The expected settlement date for the tender offer is June 28, 2024, when the company plans to pay for all validly tendered notes [1] Tender Offer Details - The total consideration for each $1,000 principal amount of the notes accepted for purchase is $998.77, plus accrued and unpaid interest [2] - The tender offer was made pursuant to the Offer Documents, which detail the terms and conditions of the offer [3] - The company intends to satisfy and discharge any outstanding notes that are not tendered in the tender offer [2] Company Overview - Sealed Air Corporation is a global provider of packaging solutions, focusing on sustainable materials and automation [4] - The company serves various end markets, including food preservation, medical and life sciences, e-commerce, and industrial sectors [4] - In 2023, Sealed Air generated $5.5 billion in sales and employed approximately 17,000 people across 115 countries [12]

(1) Price per $1,000 of principal amount of Notes tendered SEE has retained J.P. Morgan Securities LLC to act as exclusive Dealer Manager. Global Bondholder Services Corporation has been retained to serve as both the depositary and the information agent (the "Depositary and Information Agent") for the Tender Offer. For additional information regarding the terms of the Tender Offer, please contact: J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3554 (collect). Requests for copies of th ...

Website Information The Issuers intend to use the net proceeds from the offering of the Notes, (i) to repurchase any or all of SEE's outstanding 5.500% senior notes due 2025 (the "2025 Notes") pursuant to the tender offer commenced by SEE today and to pay related premiums, fees and expenses in connection therewith, and (ii) to the extent of any remaining proceeds after giving effect to the foregoing transaction, for general corporate purposes. The tender offer is conditioned upon, among other things, the co ...

CHARLOTTE, N.C., June 17, 2024 /PRNewswire/ -- Sealed Air Corporation ("SEE") (NYSE: SEE) today announced, together with Sealed Air Corporation (US) (together with SEE, the "Issuers"), that the Issuers commenced an offering of senior notes due 2032 (the "Notes"). The Notes will be jointly and severally, and irrevocably and unconditionally, guaranteed on a senior unsecured basis by each of SEE's existing and future wholly owned domestic subsidiaries that guarantee its senior secured credit facilities, subjec ...

Forward-Looking Statements The following table summarizes the material pricing terms of the Tender Offer, which is being made upon, and is subject to, the terms and conditions set forth in the Offer Documents. (Regulation S) The consideration (the "Total Consideration") offered for each $1,000 principal amount of the Notes validly tendered and not validly withdrawn and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the f ...

Henry Keizer, SEE Board Chairman, said, "We are pleased to welcome Patrick as our new CEO. He has a strong track record of delivering growth and driving commercial and operational transformations within the packaging industry, and we are confident he will accelerate SEE's transformation and drive long-term value creation for our shareholders." Mr. Keizer continued, "We would like to thank both Emile and Dustin for their leadership over the recent months and the progress made on SEE's transformation. They bo ...