Welcome to our dedicated page for Sealed Air news (Ticker: SEE), a resource for investors and traders seeking the latest updates and insights on Sealed Air stock.
Sealed Air Corporation (NYSE: SEE) is a global leader in packaging solutions, committed to creating a world that feels, tastes, and works better through innovation and sustainability. In 2023, the company generated $5.5 billion in sales, supported by approximately 17,000 employees serving customers in 115 countries.
Sealed Air’s operations are segmented into two main categories: Food Care and Product Care. The Food Care division offers food packaging products under brands like Cryovac®, Darfresh®, and OptiDure™, primarily targeting meat products. The Product Care division includes iconic brands such as Bubble Wrap®, Instapak®, Jiffy® mailers, and shrink film packaging systems designed for industrial and e-commerce applications.
The company’s portfolio of renowned brands ensures a safer, less wasteful food supply chain, protects valuable goods during global shipments, and enhances health through improved hygiene solutions. In recent years, Sealed Air has made significant strides in sustainability, achieving net sales of $1.33 billion in Q1 2024, and focusing on eco-friendly initiatives through the SEE Impact Report 2022.
Sealed Air is dedicated to sustainability, integrating automation, digital, and sustainable packaging solutions to help customers achieve their environmental goals. It pursues scalable solutions to promote circularity, prevent waste, and reduce reliance on natural resources. Collaborations and innovative technologies keep Sealed Air at the forefront of the packaging industry, ensuring high performance and sustainable growth.
For more information, visit www.sealedair.com.
Sealed Air (NYSE: SEE) announces key leadership changes effective January 1, 2022: Alessandra Faccin is promoted to President of the Asia-Pacific (APAC) region, succeeding Kevin Piccione, who is retiring after 23 years with the company. Faccin brings over 20 years of experience, having previously held positions including Corporate Treasurer. Shuxian (Susan) Yang is appointed as Corporate Treasurer and Finance Leader of SEE Automation. CEO Ted Doheny praises both leaders for enabling SEE's growth in the packaging industry, focusing on automation and sustainability.
Sealed Air (NYSE: SEE) will participate in the Baird 2021 Global Industrials Conference on November 10, 2021, at 1:25 p.m. ET. The event will feature executives discussing the company's Operating Model and growth strategy focusing on automation, digitalization, and sustainability. The conference will be available via a live webcast on the company's investor homepage. Sealed Air aims to enhance packaging solutions while committing to sustainability goals, including 100% recyclable or reusable packaging by 2025 and net-zero carbon emissions by 2040.
Sealed Air (NYSE: SEE) has successfully sold its Reflectix® business to an affiliate of Balcan Innovations. Reflectix, the leading brand in reflective insulation solutions, was known for its extensive distribution network across North America, including over 3,500 retail locations. This divestiture aligns with SEE's strategy to refocus on becoming a digitally driven company that emphasizes sustainable packaging solutions. The Reflectix manufacturing facility in Markleville, Indiana, employs around 80 people, which is part of the transaction.
SEE reported third quarter 2021 net sales of $1.4 billion, a 14% increase year-over-year, with net earnings of $108 million, down 18%. Adjusted EBITDA rose 4% to $271 million. Cash flow from operations decreased 8% to $378 million. Key growth drivers included SEE Touchless Automation and sustainable solutions. The company anticipates full-year 2021 net sales around $5.5 billion and adjusted EPS of $3.50 to $3.60, reflecting a 10% to 13% growth rate.
Sealed Air Corporation (NYSE: SEE) has declared a quarterly cash dividend of $0.20 per common share, payable on December 17, 2021 to stockholders of record by December 3, 2021. With a reported $4.9 billion in sales for 2020, Sealed Air focuses on innovative packaging solutions aimed at enhancing the global food supply chain and e-commerce. The company is also committed to sustainability, pledging to make all packaging materials recyclable or reusable by 2025 and achieve net-zero carbon emissions by 2040.
Sealed Air Corporation (NYSE: SEE) will release its third quarter 2021 results on November 2, 2021, at 7:00 a.m. ET, followed by a conference call at 10:00 a.m. ET. The call will feature CEO Ted Doheny and CFO Chris Stephens, and it can be accessed live on the company’s investor homepage. Sealed Air generated $4.9 billion in sales in 2020 and aims for sustainability with a pledge to make 100% of its packaging recyclable or reusable by 2025, and achieve net-zero carbon emissions by 2040.
Sealed Air Corporation (NYSE: SEE) has announced the pricing details of its cash Tender Offer for its outstanding 4.875% Senior Notes due December 1, 2022, totaling US$425 million. The Tender Offer will expire on October 13, 2021, unless extended. Early tenders by September 28, 2021, will qualify for a Total Consideration of approximately $1,039.26 per $1,000 principal amount, which includes an Early Tender Payment of $30.00. The settlement for early tenders is expected on September 30, 2021.
Sealed Air Corporation (NYSE: SEE) has successfully closed its offering of $600 million in 1.573% senior secured notes due 2026, sold at 100% of their principal amount. The company plans to use the net proceeds primarily to repurchase its outstanding 4.875% senior notes due 2022 and for general corporate purposes. The notes, which are secured by liens on the company’s personal property, are offered to qualified institutional buyers and non-U.S. persons. Sealed Air aims to enhance its financial position while fulfilling its commitment to sustainable practices.
Sealed Air Corporation (NYSE:SEE) has announced the results of its cash tender offer for its 4.875% senior notes due 2022. The early tender period ended on September 28, 2021, with $339.26 million, or 79.83%, of the notes validly tendered. Settlement for accepted notes is expected on September 30, 2021. The company received sufficient consents for amendments to eliminate certain covenants in the indenture, effective concurrently with the settlement. The final period for the tender offer will end on October 13, 2021, unless extended.
Sealed Air Corporation (NYSE: SEE) has announced the pricing of its upsized offering of 1.573% senior secured notes, increasing the aggregate principal from $425 million to $600 million. These notes will be guaranteed by the company's subsidiaries and secured by liens on personal property. The proceeds will be used to repurchase the 4.875% senior notes due in 2022, with approximately $595 million expected after costs. The offering is set to close on September 29, 2021, subject to conditions. The notes are offered to qualified institutional buyers under SEC regulations.
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