#financial report #Sealed Air #Dustin Semach

Sealed Air Corporation Reports Fourth Quarter and Full Year 2024 Results

Sealed Air Corporation (NYSE: SEE), a leading provider of packaging solutions, has announced its financial performance for the fourth quarter and the full year of 2024. With the appointment of Dustin Semach as CEO, the company has successfully repositioned itself into two distinct market-focused divisions: Food and Protective. This strategic shift aims to amplify growth potential in each sector, with particular emphasis on meeting the evolving needs of customers.

Fourth Quarter Highlights

During the last quarter of 2024, Sealed Air achieved net sales of $1.37 billion, which remained relatively stable compared to the previous year. The Food segment saw a 3% increase in sales, reflecting solid growth driven by market demand and competitive share gains. In contrast, the Protective segment experienced a decline of 7% in net sales, attributed to ongoing challenges within the industrial and fulfillment portfolios. Although external factors impacted pricing dynamics, volumes within the Food segment grew by 5%, showcasing a robust response to consumer needs.

The Adjusted EBITDA for the fourth quarter was recorded at $271 million, slightly down from $274 million in the same period last year, resulting in an EBITDA margin of 19.7%. The overall performance indicated improved discipline in operational fundamentals despite external pressures on pricing and costs.

Full Year Performance

For the full year 2024, Sealed Air reported total net sales of $5.39 billion, down 2% from $5.49 billion in 2023. The Food segment performed positively with a 2% increase, while the Protective segment experienced a more significant decline of 8%. Adjusted EBITDA for the year was approximately $1.11 billion, reflecting a margin of 20.6%, sustained by operational efficiencies introduced through the