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Mar 31, 2021
Sealed Air Q1 2021 Earnings Report
Sealed Air's Q1 2021 performance reflected strong sales growth and increased full-year outlook.
Key Takeaways
Sealed Air reported net sales of $1.3 billion, an 8% increase, and adjusted EBITDA of $268 million, a 6% increase. The company raised its full-year outlook due to strong performance in eCommerce, food retail, and equipment.
Net sales increased by 8% to $1.3 billion, with a 6% increase on a constant currency basis.
Net earnings decreased by 8% to $106 million, with an EPS of $0.68, also down 8%.
Adjusted EBITDA increased by 6% to $268 million, and adjusted EPS increased by 7% to $0.78.
Cash flow from operations increased significantly by 95% to $80 million.
Revenue by Segment
Forward Guidance
Sealed Air updated its full year 2021 outlook and now expects net sales in the range of $5.25 billion to $5.35 billion, Adjusted EBITDA in the range of $1.12 billion to $1.15 billion, Adjusted EPS to be in the range of $3.40 to $3.55, and Free Cash Flow in the range of $520 million to $570 million.
Positive Outlook
- Net sales are expected to be in the range of $5.25 billion to $5.35 billion, representing a 7% to 9% increase as reported.
- Adjusted EBITDA is projected to be between $1.12 billion and $1.15 billion.
- Adjusted EPS is forecasted to be in the range of $3.40 to $3.55.
- The company anticipates an Adjusted Tax Rate of 26% to 27%.
- Free Cash Flow is now expected to be in the range of $520 million to $570 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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