Sealed Air Corporation (NYSE:SEE) shares traded higher in the premarket session on Tuesday.
The company reported fourth-quarter adjusted earnings per share of 75 cents, beating the street view of 67 cents. Quarterly sales of $1.37 billion outpaced the analyst consensus estimate of $1.36 billion.
Net sales were flat as reported year over year, increasing by 1%, on a constant dollar basis.
Adjusted EBITDA margin contracted to 19.7% from 19.9% a year ago.
“During the fourth quarter, we completed the reorganization into two market-focused businesses, Food and Protective, and had a strong finish to the year,” said Dustin Semach, Sealed Air’s president and CEO.
The food segment increased 3% and the protective segment decreased 7%.
Volumes increased by $17 million, or 1%. Price had an unfavorable impact of $4 million.
Food volume growth was driven by competitive share gains and sustained end-market demand, while the company continued to rebalance its protective portfolio and enhance customer focus.
“We are continuing to streamline our operations and drive further productivity across the company. As a result, we are targeting growth and margin expansion in 2025,” the CEO added.
Outlook: Sealed Air expects FY25 revenue to range from $5.100 billion to $5.500 billion, compared to the $5.4 billion estimate. Adjusted EPS to be between $2.90 and $3.30 versus the $3.12 estimate.
Price Action: SEE shares are trading higher by 7.38% to $34.50 premarket at last check Tuesday.
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