What were the key takeaways from Sealed Air's earnings call?

What is the revenue and EPS growth rate for Sealed Air year over year?

Did Sealed Air beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Sealed Air next quarter?

What guidance did Sealed Air's management provide for the next earnings period?

What does Sealed Air do and what are its main business segments?

What is Sealed Air's gross profit margin?

What is Sealed Air's latest dividend and current dividend yield?

- **Revenue Resilience**: Q3 revenue held steady at $1.35 billion, with Protective volumes improving 1% YoY despite macro challenges. 
- **Profitability Boost**: Adjusted EBITDA up 4% YoY to $287 million, driven by $11 million in productivity savings. 
- **Food Headwinds**: Beef production decline (-10.5% YoY) and consumer trade-downs pressured Food volumes, but Foodservice grew 4% YoY. 
- **Balance Sheet Strength**: $1.3 billion liquidity and 3.5x net leverage ratio support transformation efforts. 
- **2026 Uncertainty**: Caution on consumer demand and beef cycle, but optimism on productivity and 7-figure Protective wins. 


**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $1.35 billion, flat year-over-year, with Protective segment volumes improving for the first time since 2021. Food segment faced headwinds from consumer trade-downs and lower beef production (-10.5% YoY). 
- **AI and Productivity**: Emphasized AI investment to improve gross margins and reduce operating expenses. Productivity initiatives saved $11 million in Q3. 
- **Segment Performance**: Protective materials volume grew 1% YoY, while Food volumes were flat. Foodservice portfolio outperformed with 4% YoY growth. 
- **Macro Outlook**: Cautioned on softer global growth, muted industrial production, and consumer uncertainty, particularly in North America. 

**【CFO Financial Commentary】**
- **Financial Highlights**: Adjusted EBITDA of $287 million (+4% YoY), adjusted EPS of $0.87 (+10% YoY). Free cash flow of $120 million in Q3, up 4% YoY. 
- **Liquidity**: Total liquidity of $1.3 billion, with net leverage ratio of 3.5x. Guided to $400 million free cash flow for 2025. 
- **Cost Management**: Lower operating expenses and favorable productivity savings offset volume declines. Refinanced $1.573 billion senior notes to extend maturity. 

**【Q&A Key Highlights】**
- **Food Segment Challenges**: Beef production decline steeper than expected (-10.5% YoY), impacting industrial volumes. SNAP funding uncertainty could exacerbate consumer trade-downs. 
- **Protective Wins**: Secured 7-figure deals in fulfillment, driven by AUTOBAG and Korrvu solutions. 
- **Network Optimization**: Evaluating global footprint for cost efficiency, with focus on logistics and asset optimization. 
- **2026 Outlook**: Uncertainty around consumer demand and beef cycle, but optimistic on productivity and transformation initiatives. 
- **Capital Allocation**: Tightening CapEx to $175 million, focusing on high-ROIC projects like foodservice and retail growth. 


Sealed Air Corporation (SEE) Q3 2025 Earnings Call Transcript

- **Protective Segment Progress**: Sequential EBITDA growth, industrial portfolio stabilization, and $7M lease buyout benefit.
- **Food Segment Challenges**: U.S. beef cycle down 7% Q2, 2025 volumes expected to decline 2-3 points, but EMEA/Asia growth offsets.
- **Cost Control Strength**: $90M CTO target on track, 2025 EBITDA guidance maintained despite headwinds.
- **Strategic Moves**: New CFO with transformation expertise, AI-driven R&D partnerships, and automation-focused solutions.

**【Management Opening Remarks】**
- New CFO Kristen Actis-Grande to join in late August, bringing expertise in complex manufacturing transformations. Interim CFO Roni Johnson praised for her contributions during the transition.
- Global trade policies remain stable in Q2, with minimal tariff impact. Focus on production optimization and limited pricing actions to mitigate future risks.

**【CEO Summary Section】**
- **Protective Segment**: Volumes down 2% YoY, but sequential sales and EBITDA growth for the second quarter. Industrial portfolio stable, while fulfillment portfolio declines due to customer churn. Lakeland, Florida manufacturing facility opened to improve service.
- **Food Segment**: North American volume weakness driven by U.S. beef cycle (down 7% Q2). EMEA and Asia volumes up low-single digits. Retail solutions offset industrial declines, but consumer shift to value groceries impacts margins.
- **Strategic Initiatives**: AI-driven R&D partnerships, substrate-agnostic solutions (e.g., hybrid Autobag), and network optimization to reduce costs and improve service.

**【CFO Financial Commentary】**
- **Q2 Results**: Net sales $1.34B (-1% CC), Adjusted EBITDA $293M (+3% CC), Adjusted EPS $0.89 (+7% reported). Margin expansion driven by cost takeout and a $7M lease buyout benefit.
- **Segment Performance**: Food EBITDA $210M (+3%), margin 23.4%; Protective EBITDA $78M (-5%), margin 17.8%. Both segments benefit from productivity savings.
- **Outlook**: Full year guidance unchanged ($5.1-5.5B sales, $1.075-1.175B EBITDA). Q3 net sales ~$1.3B, EBITDA ~$270M, EPS ~$0.68. Free cash flow target $400M, net leverage ~3.6x.

**【Q&A Highlights】**
- **Food Volume Impact**: U.S. beef cycle expected to reduce 2025 Food volumes by 2-3 points. 2026 outlook cautious due to prolonged cattle cycle (3-4% decline). Margin resilience expected via cost takeout and productivity.
- **Protective Growth**: Sequential improvement in core view and Instapak businesses. Electronics end market strong, but monitoring for transitory tariff effects.
- **Cost Savings**: $90M CTO target on track, with $100M+ EBITDA impact from cost takeout and productivity. Manila G&A optimization and plant closures driving savings.
- **Automation Strategy**: Solution-based automation (e.g., APS hybrid machines) driving higher-margin sales. Focus on combining equipment, materials, and service for customer value.


Sealed Air Corporation (SEE) Q2 2025 Earnings Call Transcript

- **Business Restructuring Success**: Food segment EBITDA margin up 200bps to 23.8%, driven by productivity and pricing.
- **Protective Turnaround Signs**: EMEA volumes down 1% (best since 2021), Latin America growth offsets North America weakness.
- **Tariff Resilience**: Minimal direct impact, but cautious on downstream demand in Protective.
- **Q2 Guidance**: $1.3 billion sales, $0.71 EPS, reflecting cost takeout and FX benefits.

**【CEO Summary Section】**
- Sealed Air reorganized into two market-focused businesses: Food and Protective, aligning commercial, innovation, and supply chain teams to better serve customers in volatile markets.
- Food segment showed modest volume growth in Q1, driven by case-ready solutions and resilient demand in retail. Industrial food processing markets were flat, with strength in South America and Australia offsetting U.S. weakness.
- Protective segment faced volume declines (-6% organically) due to prior year churn, but EMEA showed stabilization and Latin America growth. North America remains a focus for go-to-market reorganization and customer retention.
- Tariff impacts are minimal due to U.S. domestic production and USMCA exemptions, but downstream demand weakness in Protective is a concern.

**【CFO Financial Commentary】**
- Q1 2025 net sales: $1.27 billion (down 2% on constant currency). Adjusted EBIT: $276 million (up 2% on constant currency). Adjusted EPS: $0.81 (up 9% on constant currency).
- Food segment: $852 million net sales (up 1% organically), driven by pricing and volume growth in case-ready solutions. Adjusted EBITDA margin improved 200bps to 23.8%.
- Protective segment: $420 million net sales (down 8% organically), with EBITDA margin decline (-180bps) due to volume softness and net price realization.
- Free cash flow: $(12 million) for Q1, with net debt leverage ratio at 3.7x.
- Full year 2025 outlook reaffirmed, with softer volume outlook offset by FX improvements. Q2 guidance: $1.3 billion net sales, $0.71 EPS.

**【Q&A Highlights】**
- **Protective Progress**: Volume down 6% in Q1, but 2pt improvement expected in Q2 as prior year churn laps. North America reorganization shows early traction, with EMEA best performance since 2021.
- **Tariff Mitigation**: Minimal direct impact due to domestic production, but monitoring downstream demand weakness in Protective.
- **Food Resilience**: 23.8% EBITDA margin in Q1, driven by productivity and cost takeout. Trade-down dynamics in U.S. beef could benefit CRYOVAC portfolio.
- **Cash Flow**: $1.3 billion liquidity, targeting 3.0x net debt/EBITDA by end-2026.

Sealed Air (SEE)-6 May 25-2025 Q1 Earnings call transcript

- **2024 Performance**: Q4 revenue up 1% (constant currency), adjusted EBITDA $271M (-1% YoY). Full-year EBITDA flat at $1.11B.
- **2025 Outlook**: Sales $5.1-5.5B (+1% midpoint), EBITDA $1.075-1.175B (+1% midpoint). Food to drive growth, protective targeting H2 stabilization.
- **Key Risks**: Protective volumes down 3% in 2025, tariff exposure in U.S.-Mexico/Canada trade. Beef market volatility impacting shrink bag business.
- **Strategic Focus**: Accelerate cost savings ($90M in 2025), expand fiber mailers/AUTOBAG, and leverage formula pricing in food.

**【CEO Opening Remarks】**
- Sealed Air delivered Q4 2024 revenue of $1.4 billion, up 1% on a constant currency basis, driven by strength in the food segment. Full-year revenue was $5.4 billion, down 1% at constant currency.
- Adjusted EBITDA for the quarter was $271 million, down 1% year-over-year, with a margin of 19.7%. Full-year adjusted EBITDA was $1.11 billion, flat with prior year.
- 2025 outlook targets net sales of $5.1-5.5 billion (midpoint +1%), with adjusted EBITDA of $1.075-1.175 billion (midpoint +1%). Focus on mid-single-digit EBITDA growth in food and stabilization in protective.

**【CFO Financial Details】**
- Q4 2024 adjusted EPS was $0.75, down 15% YoY due to higher tax expenses. Full-year adjusted EPS was $3.14, down 1%.
- Free cash flow for 2024 was $454 million, with net leverage ratio of 3.6x. Target to reduce leverage to 3x by end of 2026.
- 2025 cost savings of $90 million expected to offset pricing pressures and FX headwinds, supporting EBITDA growth.

**【Q&A Key Takeaways】**
- **Protective Segment Challenges**: Volumes expected to decline 3% in 2025, with potential inflection in H2. Amazon-related churn and industrial portfolio weakness remain headwinds. Fiber mailer and AUTOBAG innovations are key to recovery.
- **Tariff Risks**: Most production is domestic, but U.S.-Mexico/Canada trade could face impacts. Cost pass-through and supply chain adjustments are planned.
- **Food Segment Growth**: 2% price-driven sales growth in 2025, supported by formula pricing and resin inflation. Case-ready and fluid solutions to offset beef market volatility.
- **Automation & M&A**: Automation revenue growth in protective expected, with focus on substrate-agnostic solutions. No immediate M&A plans, prioritizing organic execution.


Actual																	0.73	0.76	0.8199	0.89	0.78	0.79	0.86	1.12	1.12	1.01	0.98	0.99	0.74	0.8	0.77	0.88	0.78	0.83	0.79	0.75	0.81	0.89	0.87	0.77
Forecast																	0.5849	0.5714	0.663	0.7824	0.7024	0.7792	0.8236	1.1291	0.9298	0.9648	0.9013	0.9786	0.7731	0.6662	0.6277	0.6356	0.5277	0.6371	0.6713	0.6666	0.6719	0.7149	0.7195	0.736
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+24.81%	+33.01%	+23.67%	+13.75%	+11.05%	+1.39%	+4.42%	-0.81%	+20.46%	+4.68%	+8.73%	+1.16%	-4.28%	+20.08%	+22.67%	+38.45%	+47.81%	+30.28%	+17.68%	+12.51%	+20.55%	+24.49%	+20.92%	+4.62%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.17B	1.15B	1.24B	1.34B	1.27B	1.33B	1.41B	1.53B	1.42B	1.42B	1.40B	1.41B	1.35B	1.38B	1.38B	1.38B	1.33B	1.35B	1.35B	1.37B	1.27B	1.33B	1.35B	1.40B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.13B	1.09B	1.19B	1.30B	1.22B	1.28B	1.37B	1.49B	1.39B	1.43B	1.45B	1.46B	1.36B	1.41B	1.37B	1.36B	1.28B	1.31B	1.34B	1.36B	1.27B	1.31B	1.31B	1.34B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+4.08%	+5.77%	+4.29%	+3.29%	+3.70%	+3.54%	+2.84%	+2.85%	+1.79%	-0.72%	-3.22%	-3.74%	-1.11%	-1.99%	+1.05%	+1.17%	+3.70%	+2.88%	+0.54%	+1.05%	+0.48%	+1.83%	+2.83%	+4.55%

SEE

SEE fundamentals

SEE Q4 2025 Earnings

Earnings Call

You can ask Aime

SEE

SEE fundamentals

SEE Q4 2025 Earnings

Earnings Call

SEE Earnings Call Summary for Q4/2025 Mar 25, 2026

SEE Earnings Call Summary for Q3/20258:00 AM on Nov 4, 2025

SEE Earnings Call Summary for Q2/202510:00 AM on Aug 5, 2025

SEE Earnings Call Summary for Q1/202510:00 AM on May 6, 2025

SEE Earnings Call Summary for Q4/202410:00 AM on Feb 25, 2025

You can ask Aime