Loading...
•
Jun 30, 2024
Sealed Air Q2 2024 Earnings Report
Sealed Air's Q2 2024 results exceeded expectations, driven by strong demand in the Food business and accelerated benefits from the CTO2Grow program, offsetting continued pressure in the Protective business.
Key Takeaways
Sealed Air reported Q2 2024 financial results with net sales of $1.35 billion, a decrease of 3% as reported. Net earnings were $98 million, or $0.67 per diluted share, compared to $94 million, or $0.65 per diluted share in the prior year. Adjusted EBITDA was $285 million, up from $280 million in the prior year. The company is on track to generate $90 million of incremental cost savings for full-year 2024 through its CTO2Grow program.
Patrick Kivits joined Sealed Air as Chief Executive Officer.
Dustin Semach was promoted to President and Chief Financial Officer.
Food volume growth was driven by strong end-market demand.
Protective volume weakness is expected to persist throughout 2024 into 2025.
Sealed Air
Sealed Air
Sealed Air Revenue by Segment
Revenue by Segment
Food Revenue
CapyFin.comProtective Revenue
CapyFin.com Forward Guidance
Sealed Air provided its outlook for Q3 2024 and full-year 2024.
Positive Outlook
- Net Sales: Q3 - $1.33 billion
- Net Sales: Full Year - $5.2 to $5.6 billion
- Adjusted EBITDA: Q3 - $265 million
- Adjusted EBITDA: Full Year - $1.05 to $1.15 billion
- Adjusted EPS: Full Year - $2.65 to $3.05
Revenue & Expenses
Visualization of income flow from segment revenue to net income