Earnings Summary: Sealed Air Corp (SEE) reports Q2 2023 financial results

Packaging solutions provider Sealed Air Corp. (NYSE: SEE) on Tuesday announced results for the second quarter, reporting lower sales and earnings, on an adjusted basis.

• Net sales decreased 3% annually to $1.38 billion in the second quarter; and down 1% in constant currency
• At $94 million, Sealed Air’s net income was down 18% year-over-year in Q2; Earnings per share dropped 16% to $0.65
• On an adjusted basis, EPS declined 21% from last year to $0.80; and dropped 22% in constant currency
• Second-quarter adjusted EBITDA came in at $280 million, which is down 4% year-over-year; and down 5% in constant currency
• The company ended the first half with cash flow from operations of $7 million