SEE Reports Q3 2021 Results
Third quarter net sales in Food were $797 million, an increase of 13% as reported. Third quarter net sales in Protective were $609 million, an increase of 14% as reported. Net sales of $1.4 billion increased 14% as reported. Favorable currency impact contributed $12 million, or approximately 1%, to net sales growth, as compared to the prior year. Net earnings in third quarter 2021 were $108 million, or $0.71 per diluted share, as compared to net earnings of $132 million, or $0.85 per diluted share, in the prior year. The decline is due to higher income tax expense and a $15 million pre-tax loss on the debt redemption of 4.875% senior notes due 2022.