The Thesis Sealed Air Corporation (NYSE:SEE) continued its topline contraction as it entered 2024. I expect this to continue further in 2024 as the end market remains under pressure in most of the end markets in both the segments, primarily in the EMEA region. This, along with impact from weak pricing, should negatively impact the company's margin in the near term. The longer-term prospects, however, look good due to the company's focus on developing new products to its portfolio associated with their custo ...

CHARLOTTE, N.C., May 23, 2024 /PRNewswire/ -- SEE (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 June 28, 2024 to stockholders of record at the close of business on June 14, 2024. About SEE Sealed Air Corporation (NYSE: SEE), is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment and services. SEE designs, manufactures and delivers p ...

NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sealed Air Corporation ("Sealed Air" or the "Company") (NYSE: SEE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Sealed Air and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On April 3, 2024 ...

Financial Data and Key Metrics Changes - The company reported net sales of $1.33 billion for Q1 2024, down 1% on a constant currency basis compared to the previous year [68] - Adjusted EBITDA for the quarter was $278 million, an increase of 4% year-over-year, with margins at 20.9%, up 110 basis points [70] - Adjusted earnings per share were $0.78, reflecting a 5% increase compared to the same period last year [40] Business Line Data and Key Metrics Changes - The Food segment achieved low single-digit volume growth across all regions, primarily driven by the shrink bag business [25] - Protective segment net sales were $461 million, down 7% organically, primarily due to lower pricing and volume declines in EMEA [43] - Food adjusted EBITDA was $190 million, down 3% with margins at 21.8%, while Protective adjusted EBITDA was approximately $90 million, up 11% with margins at 19.4% [71][72] Market Data and Key Metrics Changes - In the Americas, volume growth was less than 1%, with growth in box rightsizing solutions offset by industrial weakness [27] - EMEA experienced a double-digit volume decline, driven by sustainability pressures and destocking [27] - Asia Pacific volumes were flat, with tailwinds from the Australian cattle cycle offset by continued industrial market weakness [73] Company Strategy and Development Direction - The company is focused on enhancing its rollstock portfolio and expanding its fiber-based offerings, particularly in response to e-commerce trends [4][5] - There is a commitment to sustainability, with ongoing development of compostable and recyclable packaging solutions [34][35] - The company aims to achieve approximately $90 million in year-over-year cost savings in 2024 through cost control initiatives [39] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, noting improvements in customer profitability and the potential for cyclicality to return [15] - The company anticipates a slight sequential decline in sales for Q2, reflecting a low visibility environment and subsiding holiday demand [75] - Management reaffirmed full-year 2024 guidance, emphasizing the need for continued focus on transformation and cost management [46][47] Other Important Information - The company generated positive free cash flow of $78 million in Q1 2024, compared to a negative $13 million in the same period last year [33] - Total liquidity position was reported at $1.4 billion, including $353 million in cash [74] Q&A Session Summary Question: What drove the upside specific to Food in the first quarter? - Management noted strength in Latin America and Australia, driven by holiday demand carryover and new customer wins [50][51] Question: What factors allowed the company to fall behind in fiber-based solutions? - Management acknowledged the need to enhance focus on fiber-based offerings and emphasized ongoing efforts to complete the portfolio [81] Question: Can you quantify the holiday carryover impact on Q1 results? - Management indicated that the holiday demand contributed positively to Q1 results, but expected a decline in Q2 due to normalization [56] Question: What are the risks associated with PVdC and regulatory changes? - Management confirmed that PVdC is critical for food preservation and is actively engaging with regulators to advocate for its continued use [87][88] Question: What keeps management awake at night regarding future opportunities and risks? - Management highlighted the importance of addressing cost structure and sustainability challenges while maximizing opportunities in the market [97]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Or For the transition period from to Commission File Number: 1-12139 SEALED AIR CORPORATION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) | Delaware | 65-0654331 | | --- | --- | | (St ...

Exhibit 99.1 SEE Reports Q1 2024 Results Reaffirms 2024 Full Year Outlook Net sales of $1.33 billion, down 1% as reported and constant currency Volumes flat compared to the prior year Net earnings of $83 million, up 33% Adjusted EBITDA of $278 million, up 4% Earnings per share (Diluted) of $0.57, up 30% Adjusted EPS (Diluted) of $0.78, up 5% Cash flow from operations (YTD) of $125 million, up 141% Free cash flow (YTD) of $78 million versus ($13) million in the prior year CHARLOTTE, N.C., May 2, 2024 – SEE ( ...

Sealed Air Corporation (NYSE:SEE) Q4 2023 Earnings Conference Call February 27, 2024 10:00 AM ET Company Participants Brian Sullivan - Executive Director, Investor Relations and Assistant Treasurer Emile Chammas - Interim Co President and Co Chief Executive Officer Chief Operating Officer Dustin Semach - Interim Co President and Co Chief Executive Officer and Chief Financial Officer Conference Call Participants Phil Ng - Jefferies Jeff Zekauskas - JPMorgan Anthony Pettinari - Citi Matthew Roberts - Raymond ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12139 Delaware 65-0654331 (State or other jurisdiction of incorporation or organization) 2415 Cascade Pointe Boulevard Charlotte North ...

Q4 & FY 2023 Earnings and 2024 Outlook Emile Chammas Interim Co-CEO, COO Brian Sullivan Executive Director Assistant Treasurer & Investor Relations February 27, 2024 - Conference Call Supplement (Unaudited Results) Safe Harbor and Regulation G Statement Forward-looking Statements Non-U.S. GAAP Financial Measures Website Information - Please visit our website Sealedair.com We routinely post important information for investors on our website, www.sealedair.com, in the "Investors" section. We use this website ...

Exhibit 99.1 SEE Reports Q4, Full Year 2023 Results and Provides 2024 Outlook Net sales in Q4 of $1.4 billion, down 2% as reported; flat constant currency and in 2023 of $5.5 billion, down 3% as reported; down 1% constant currency Net earnings in Q4 of $125 million, up 32%, and in 2023 of $339 million, down 31% Adjusted EBITDA in Q4 of $274 million, down 8% as reported and in 2023 of $1,107 million, down 9% as reported Earnings per share (Diluted) in Q4 of $0.86, up 32%, and in 2023 of $2.34, down 30% Adjus ...