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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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