SEE Stock Recent News

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.

CHARLOTTE, N.C., Oct. 1, 2024 /PRNewswire/ -- Sealed Air Corporation (NYSE: SEE) today announced the appointment of Anthony (Tony) Allott to its Board of Directors.

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.

Sealed Air Corporation shares have lost value over the past year due to a weak financial performance amidst high leverage ratios. The company's guidance for 2024 is uninspiring, with sales and earnings expected to decline, leading to a tough outlook for the future, as weakness is seen into 2025. Despite low earnings multiples, Sealed Air's uneven track record, leverage employed, and ongoing business challenges make it a risky investment choice.

Sealed Air Corporation (NYSE:SEE ) Q2 2024 Earnings Call Transcript August 8, 2024 10:00 AM ET Company Participants Brian Sullivan - IR Henry Keizer - Chairman Patrick Kivits - CEO Dustin Semach - President and CFO Conference Call Participants Ghansham Panjabi - Baird Adam Samuelson - Goldman Sachs George Staphos - Bank of America Securities Josh Spector - UBS Arun Viswanathan - RBC Capital Markets Michael Roxland - Truist Securities Bryan Burgmeier - Citi Philip Ng - Jefferies Edlain Rodriguez - Mizuho Matt Roberts - Raymond James Operator Good day, and thank you for standing by. Welcome to the Q2 2024 Sealed Air Earnings Conference Call.

Sealed Air (SEE) witnesses a year-over-year improvement in its Q2 bottom line on benefits from the CTO2Grow Program and higher volumes in the Food segment.

While the top- and bottom-line numbers for Sealed Air (SEE) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Sealed Air (SEE) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.80 per share a year ago.

Second Quarter 2024 Highlights and Financial Results Patrick Kivits joined Sealed Air as Chief Executive Officer Dustin Semach promoted to President and Chief Financial Officer Volume growth in Food driven by strong end-market demand Protective volume weakness now expected to persist throughout 2024 into 2025 CTO2Grow on track to generate $90 million of incremental cost savings for full-year 2024 Strong generation of cash flow from operations and continued debt reduction ($ millions, except per share data)  GAAP Results Second Quarter 2024 2023 Reported △% Constant Currency △% Net Sales $1,345.1 $1,380.8 (2.6) % (1.7) % Net Earnings $97.8 $93.9 4.2 % Diluted EPS $0.67 $0.65 3.1 % Cash Flow from Operations (YTD) $313.3 $(6.6) Non-GAAP Results Second Quarter 2024 2023 Reported △% Adjusted EBITDA $285.5 $280.3 1.9 % Adjusted Net Earnings $120.7 $115.5 4.5 % Adjusted Diluted EPS $0.83 $0.80 3.7 % Free Cash Flow (YTD) $207.5    $44.7(1) ____________________ (1) 2023 exclude

Sealed Air's (SEE) Q2 results are likely to reflect the impacts of lower volumes, owing to recessionary pressures, offset by strategic initiatives.