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Jun 30, 2021
Sealed Air Q2 2021 Earnings Report
Sealed Air's Q2 2021 financial results were announced, revealing a net sales increase and strategic investments in automation, digital, and sustainability.
Key Takeaways
Sealed Air reported a 15% increase in net sales, reaching $1.3 billion, driven by demand for automated and sustainable packaging solutions. Adjusted EBITDA rose by 1%, while the company is increasing its investment in automation, digital, and sustainability, alongside returning capital to shareholders through share repurchases and dividend increases.
Net sales increased by 15% to $1.3 billion, or 11% on a constant currency basis.
Net earnings increased by 8% to $109 million, with EPS up 11% to $0.71.
Adjusted EBITDA increased by 1% to $263 million, and Adjusted EPS increased by 4% to $0.79.
The company authorized a new $1 billion share repurchase program and increased its quarterly cash dividend by 25%.
Revenue by Segment
Forward Guidance
SEE has updated its full year 2021 outlook, expecting net sales in the range of $5.4 billion to $5.5 billion and Adjusted EPS to be in the range of $3.45 to $3.60. The company continues to expect full year Adjusted EBITDA to be in the range of $1.12 billion to $1.15 billion and Free Cash Flow in the range of $520 million to $570 million.
Positive Outlook
- Net sales are expected to increase by 10% to 12% as reported and 8% to 10% in constant dollars.
- A favorable currency impact of approximately 2% is expected.
- Adjusted EBITDA is projected to be in the range of $1.12 billion to $1.15 billion.
- Adjusted EPS is forecasted to be in the range of $3.45 to $3.60.
- Free Cash Flow is 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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