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Jun 30
Sealed Air Q2 2025 Earnings Report
Sealed Air posted resilient Q2 2025 results, with margin expansion, stable food sales, and notable progress in its Protective segment transformation.
Key Takeaways
Sealed Air reported $1.34 billion in revenue for Q2 2025, with flat Food segment sales and a slight decline in Protective. Adjusted EBITDA grew to $293 million, and adjusted net earnings rose 9%. Despite headwinds in North America, the company maintained its full-year guidance.
Revenue was $1.335 billion, down 0.8% YoY; Food segment remained flat while Protective declined 3%:contentReference[oaicite:0]{index=0}.
Net income for the quarter was $94 million, with GAAP EPS of $0.64 and adjusted EPS of $0.89:contentReference[oaicite:1]{index=1}.
Adjusted EBITDA rose to $293 million with a margin of 21.9%:contentReference[oaicite:2]{index=2}.
Free cash flow was $81 million for the first half of 2025, down from $207 million YoY:contentReference[oaicite:3]{index=3}.
Sealed Air
Sealed Air
Sealed Air Revenue by Segment
Revenue by Segment
Food Revenue
CapyFin.comProtective Revenue
CapyFin.com Forward Guidance
Sealed Air reaffirmed its 2025 guidance, expecting full-year revenue of $5.1–$5.5 billion and adjusted EBITDA of $1.075–$1.175 billion despite headwinds in volume and FX.
Positive Outlook
- Maintained full-year adjusted EPS guidance of $2.90–$3.30
- Food segment showed price resilience and productivity gains
- Protective segment posted best volume performance since Q4 2021
- Productivity savings from the CTO2Grow Program supported margins
- Improved FX outlook expected to mitigate volume headwinds
Challenges Ahead
- Free cash flow down 61% YoY in H1 due to higher tax and incentive payouts
- Protective segment saw continued impact from prior-year customer churn
- Volume declined 2% YoY despite improvement in industrial portfolio
- Debt remains elevated at $4.34 billion with 3.6x leverage
- Market pressure from global trade policies affecting North America
Revenue & Expenses
Visualization of income flow from segment revenue to net income