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Sep 30, 2024
Sealed Air Q3 2024 Earnings Report
Sealed Air's Q3 2024 results were released, showcasing a shift in operating structure and mixed performance across its segments.
Key Takeaways
Sealed Air reported Q3 2024 results with net sales of $1.35 billion, a decrease of 3% as reported. The company is undergoing a shift into two verticals, Food and Protective, and is focused on cost take-out initiatives. While the Food business showed strength, the Protective portfolio remained soft. The company is maintaining its Sales and Adjusted EBITDA guidance but raising its guidance for Free Cash Flow and Adjusted EPS for the year.
Shifted operating structure into two distinct verticals: Food and Protective, and announced both vertical presidents.
Volume growth in Food was driven by strong end-market demand and competitive wins.
Protective industrial and fulfillment portfolios continued to be weak.
Cost take-out is on track to generate $90 million of incremental cost savings for full-year 2024.
Revenue by Segment
Forward Guidance
Sealed Air updated its full year 2024 outlook, including net sales, Adjusted EBITDA, Adjusted EPS and Free Cash Flow.
Positive Outlook
- Net Sales: $5.375 to $5.425 billion
- Adjusted EBITDA: $1.09 to $1.11 billion
- Adjusted EPS: $3.00 to $3.10
- Free Cash Flow: $350 to $450 million
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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