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Sep 30, 2020
Sealed Air Q3 2020 Earnings Report
Sealed Air's Q3 2020 results reflected growth in net sales, net earnings, and adjusted EBITDA.
Key Takeaways
Sealed Air Corporation reported a 2% increase in net sales to $1.2 billion and a 66% increase in net earnings to $132 million for the third quarter of 2020. Adjusted EBITDA increased by 8% to $259 million, and adjusted EPS grew by 28% to $0.82. The company also increased its full-year 2020 financial outlook.
Net sales increased by 2% as reported and 3% on a constant currency basis.
Net earnings increased by 66%, with EPS up by 67%.
Adjusted EBITDA increased by 8%, and adjusted EPS increased by 28%.
The company is expanding its 'SEE Automation' and sustainability solutions.
Sealed Air
Sealed Air
Sealed Air Revenue by Segment
Revenue by Segment
Food Revenue
CapyFin.comProtective Revenue
CapyFin.com Forward Guidance
Sealed Air expects net sales of approximately $4.85 billion, Adjusted EBITDA to be approximately $1.04 billion, Adjusted EPS to be approximately $3.05, and free cash flow to be approximately $450 million for the full year 2020.
Positive Outlook
- Net sales are expected to be approximately $4.85 billion, up 1% as reported and up 3% in constant dollars.
- Adjusted EBITDA is expected to be approximately $1.04 billion.
- Adjusted EPS is expected to be approximately $3.05.
- Free cash flow is expected to be approximately $450 million.
- Restructuring payments are now expected to be approximately $85 million.
Challenges Ahead
- Foreign currency is now expected to have a negative impact on net sales of approximately $90 million.
- Adjusted EBITDA guidance now includes an estimated unfavorable currency impact of $20 million.
- The adjusted tax rate is anticipated to be approximately 26%.
- Capital expenditures are expected to be approximately $175 million.
- Unspecified special items could be material to results computed in accordance with U.S. GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income