Sealed Air Reports Q2 2024 Results

“Our second quarter results were ahead of our expectations, reflecting strong sequential demand within our Food business, accelerated benefits from our CTO2Grow program that more than offset the continued pressure within our Protective business,” said Patrick Kivits, Sealed Air’s CEO. “I have joined Sealed Air at a pivotal time in its journey. I plan on accelerating the transformation that began eight months ago to restore business fundamentals and drive long-term sustainable growth. Our people are at the center of this transformation and I want to express my appreciation for their commitment to Sealed Air and our customers. I am excited about the opportunities ahead of us.”

“For the remainder of the year, our Food businesses’ performance is being offset by weaker than expected volumes within Protective. At this time, we do not see a catalyst for the volumes to inflect in Protective and expect this trend to continue into 2025,” said Dustin Semach, Sealed Air’s President and CFO. “We delivered strong free cash flow in the first half and continued to strengthen the balance sheet, putting us ahead of pace for free cash flow generation for the full year.”

Second Quarter 2024 Financial Highlights
Net sales of $1.35 billion decreased 3% as reported, with EMEA decreasing 5%, APAC decreasing 3% and the Americas decreasing 2%. Net sales decreased $24 million, or 2%, on a constant dollar basis. Price had an unfavorable impact of $41 million, or 3%. Volumes increased by $18 million, or 1%.

Net earnings were $98 million, or $0.67 per diluted share, as compared to net earnings of $94 million, or $0.65 per diluted share in the prior year.
details at: https://ir.sealedair.com/news-releases/news-release-details/sealed-air-reports-q2-2024-results

Related Posts

SEE Reports Q3 2023 Results

*Net sales of $1.38 billion, down 1% as reported; flat at constant currency *Net earnings of $58 million, down 57% *Cash flow from operations (YTD) of $193 million

BillerudKorsnas Interim Report January–September 2020

Key highlights: *Stable sales volumes despite challenging markets *Successfully accomplished maintenance shutdowns *Accelerated delivery of the cost and efficiency programme *Strong operating cash flow generation *Recyclable Flow Wrap launched. Quarterly data: *Net sales declined by 5% to SEK 5 561 million (5 833). Excluding currency effects sales declined by 3% *Operating profit was SEK 86 million (149) *Net profit from continuing operations was SEK 52 million (77) *Earnings per share amounted to SEK 0.25 (27.83)**

IPG and IMA Group announce their participation at Modex 2024

IPG (Intertape Polymer Group) and IMA GROUP with its new E-COMMERCE Division, proudly announce their joint participation at MODEX 2024, one of the premier events dedicated to Supply Chain solutions. The exhibition, to be held March 11-14, 2024, in Atlanta, GA, brings together industry experts, innovators, and businesses from around the world to exchange ideas and explore the latest trends and technologies. IPG is a recognized leader in the development, manufacture, and sale of a variety of paper and filmbased pressure-sensitive and water-activated tapes, stretch and shrink films and protective packaging. IMA E-COMMERCE, born in January 2023 in response to the growing demand of the E-Commerce market, is an innovator in the E-Fulfillment and Intralogistics packaging solutions.
Back To Top
×Close search
Search