Packaging solutions provider Sealed Air has reported net sales of $1.33bn in the second quarter (Q2) of 2025, a slight decline of less than 1% compared to $1.34bn in the same quarter of the previous year.
The company's net earnings for the quarter were reported at $94m, equating to $0.64 per diluted share, down from $98m, or $0.67 per diluted share, in the prior year.
The results were affected by $38m in special items expenses, an increase from $23m in the previous year, attributed to higher professional services and other one-time charges, as well as increased costs related to the CTO2Grow programme.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter reached $293m, or 21.9% of net sales, compared to $285m, or 21.2%, in the same period last year.
Adjusted earnings per diluted share rose by 7% to $0.89 from $0.83 in the previous year, mainly due to the increase in adjusted EBITDA and reduced interest expenses.
In terms of segment performance, net sales in the Food division remained stable at $896m while the Protective segment experienced a 3% decline, with sales amounting to $439m.
Cash flow from operating activities for the first half of 2025 was $168m, a decrease from $313m in the same period last year. Capital expenditures during this timeframe totalled $87m, down from $106m in the prior year.
Sealed Air president and CEO Dustin Semach said: “While our Protective [segment] turnaround will be nonlinear, this quarter is a mark of progress as we delivered our best volume performance since the fourth quarter of 2021 and our industrial portfolio inflected to volume growth.
“Market pressures are accelerating, primarily in North America, as the impact of global trade policies weigh on economic growth and consumer spending patterns are beginning to shift."
As of 30 June 2025, Sealed Air's total debt stood at $4.3bn, a reduction from $4.4bn at the end of December 2024.
The company's net debt, calculated as total debt minus cash and cash equivalents, remained at $4bn for both of these periods.
Sealed Air reported approximately $1.2bn in available liquidity, which comprises $354m in cash and $830m in unused lines of credit from its committed credit facilities.
