Sealed Air Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 07:00 am EST
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Sealed Air Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,377.5 million compared to USD 1,405.9 million a year ago. Net income was USD 124 million compared to USD 94.3 million a year ago. Basic earnings per share from continuing operations was USD 0.86 compared to USD 0.65 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 0.65 a year ago. Basic earnings per share was USD 0.86 compared to USD 0.65 a year ago. Diluted earnings per share was USD 0.86 compared to USD 0.65 a year ago.
For the full year, sales was USD 5,488.9 million compared to USD 5,641.9 million a year ago. Net income was USD 341.6 million compared to USD 491.6 million a year ago. Basic earnings per share from continuing operations was USD 2.35 compared to USD 3.37 a year ago. Diluted earnings per share from continuing operations was USD 2.34 compared to USD 3.33 a year ago. Basic earnings per share was USD 2.37 compared to USD 3.37 a year ago. Diluted earnings per share was USD 2.36 compared to USD 3.33 a year ago.
Sealed Air Corporation is a provider of packaging solutions integrating performance materials, automation, equipment and services. The Company designs, manufactures and delivers packaging solutions that preserve food, protect good and automate packaging processes. The Company operates through two segments: Food, and Protective. The portfolio of packaging solutions includes CRYOVAC brand for food packaging, LIQUIBOX for fluids and liquids systems, SEE brand for protective packaging, AUTOBAG brand for automated systems, BUBBLE WRAP brand for packaging. The Company delivers its packaging solutions to an array of end markets including fresh proteins, foods, fluids, medical and healthcare, e-commerce, logistics and omnichannel fulfilment operations, and industrials. Food solutions are sold to food processors in fresh red meat, smoked and processed meats, poultry, seafood, plant-based protein, fluids and liquids and cheese markets worldwide.