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Jun 30, 2023
Sealed Air Q2 2023 Earnings Report
Second quarter earnings were in line with expectations, but full year guidance was revised due to continued weakness in end-markets.
Key Takeaways
Sealed Air reported Q2 2023 results with net sales of $1.38 billion, a decrease of 3% as reported. Net earnings were $94 million, down 18%, with earnings per share at $0.65, a 16% decrease. The company is launching 'Cost take-out to Grow' as part of Reinvent SEE 2.0 to reduce costs by $140 to $160 million annually by the end of 2025.
Net sales decreased by 3% as reported, totaling $1.38 billion.
Net earnings decreased by 18%, reaching $94 million.
Adjusted EBITDA decreased by 4% as reported, amounting to $280 million.
Adjusted EPS (Diluted) decreased by 21% to $0.80.
Sealed Air
Sealed Air
Sealed Air Revenue by Segment
Revenue by Segment
Food Revenue
CapyFin.comProtective Revenue
CapyFin.com Forward Guidance
For the full year 2023, SEE now expects net sales in the range of $5.40 to $5.60 billion and Adjusted EBITDA to be in the range of $1.075 to $1.125 billion. The Company forecasts full year Adjusted EPS to be in the range of $2.75 to $2.95.
Revenue & Expenses
Visualization of income flow from segment revenue to net income