US-based packaging company Sealed Air (SEE) has reported full-year net sales of $5.6bn for fiscal 2022 (FY22), up by 2% from fiscal 2021 (FY21).
The company’s sales in the Americas rose by 6% over the year, while its Asia-Pacific (APAC) and Europe, Middle East and Africa (EMEA) businesses saw their sales drop by 6% and 3% respectively.
SEE recorded $491m in net earnings for the year, which was the same as in FY21.
Its earnings per diluted share (EPS) for FY22 were $3.33, up by 3% from $3.22 in FY21.
SEE president and CEO Ted Doheny said: “In 2022, we delivered adjusted EPS growth of 15% as we are successfully executing on our strategy to become a world-class company partnering with our customers on automation, digital and sustainable packaging solutions.
“I am extremely proud of how our team executed in securing and redesigning products, innovating new solutions with sustainable materials, and minimising disruptions for our customers while maintaining performance and ensuring quality.
“Our automation solutions continued gaining momentum by creating significant savings for our customers and delivering the best products at the right price and make them sustainable.”
In the fourth quarter (Q4) of FY22, SEE generated $1.4bn in net sales, which was down by 8% on a reported basis and 4% on a constant currency basis from a year earlier.
The company’s net earnings also declined by 44% to $95m in Q4 2022, while its EPS stood at $0.65, down by 42% from Q4 2021.
For fiscal 2023 (FY23), SEE expects full-year net sales of between $5.85 and $6.10bn, representing a 4-8% growth from FY22.
The company expects its adjusted EPS for the year to be in the range of $3.50 to $3.80.
Earlier this month, SEE acquired sustainable flexible packaging provider Liquibox for $1.15bn on a cash and debt-free basis.