Sealed Air Corporation (SEE) is a global leader in providing innovative packaging solutions that integrate sustainable materials, automation, and services. The company specializes in designing and delivering packaging systems that preserve food, protect goods, and enhance operational efficiency. SEE serves diverse markets, including food, medical, e-commerce, logistics, and industrial sectors, with a portfolio of globally recognized brands.
- Food Segment - Offers advanced food packaging solutions, including CRYOVAC® and LIQUIBOX®, to preserve freshness and extend shelf life for fresh proteins, foods, fluids, and liquids.
- Protective Segment - Provides protective packaging solutions under brands like SEALED AIR®, AUTOBAG®, and BUBBLE WRAP® for e-commerce, logistics, medical, and industrial applications.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dustin J. Semach ExecutiveBoard | President and Chief Executive Officer | Dustin J. Semach is the President and Chief Executive Officer of SEE since February 14, 2025. He previously served as President and Chief Financial Officer from July 2024 to February 2025 and as Interim Co-President and Co-Chief Executive Officer from October 2023 to June 2024. | View Report → | |
Belinda Hyde Executive | Chief People Officer | Belinda Hyde is the Chief People Officer at SEE since 2024. Previously, she served as Senior Vice President and Chief Human Resources Officer at Waters Corporation from 2021 to 2024 and as Chief Human Resources Officer at SPX Flow from 2015 to 2020. | ||
Byron J. Racki Executive | President, Protective | Byron J. Racki joined SEE as Americas President on June 4, 2024 and later transitioned to President, Protective on October 1, 2024. He previously held significant roles at companies such as Pactiv Evergreen Inc. and Neenah. | ||
Emile Z. Chammas Executive | Senior Vice President and Chief Operating Officer | Emile Z. Chammas has been with SEE since 2010, serving in key executive roles including Senior Vice President and Chief Supply Chain Officer, and later as Senior Vice President, Chief Transformation and Manufacturing/Supply Chain Officer before his current appointment in 2022. He additionally served as Interim Co-President and Co-Chief Executive Officer from October 2023 to June 2024. | ||
Steven E. Flannery Executive | President, Food | Steven E. Flannery is the President, Food at Sealed Air Corporation since September 30, 2024. He brings over 25 years of leadership experience from Avery Dennison, where he held multiple senior roles driving innovation and market growth. | ||
Veronika Johnson Executive | Interim Chief Financial Officer | Veronika Johnson is the Interim Chief Financial Officer at SEE since February 12, 2025. She has also served as Chief Accounting Officer and Controller since 2023, supporting key financial transitions at the company. |
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How do you plan to quantify and track improvements in customer satisfaction beyond traditional metrics, and can you share specific performance indicators that demonstrate the success of your go-to-market reorganization, particularly in North America?
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With Protective volumes having declined due to past customer churn and expected to recover gradually, what concrete timing and specific milestones are you targeting to reverse this trend across both industrial and fulfillment segments?
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Given the competitive pressures in the Protective segment, especially after the Supply increase from the Fill-Air exit, what specific initiatives are in place to regain lost market share while maintaining pricing discipline in an environment of modest volume growth?
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In light of the evolving trade landscape and potential tariff impacts, how will you manage supply chain risks—particularly in materials like polyethylene and specialty resins—and how quickly can you pass any increased costs through to customers?
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As U.S. red meat markets face potential shifts from premium to lower-tier cuts due to consumer trade-downs, what is your detailed strategy to mitigate the impact on the Food segment’s margins and growth, and how are these dynamics reflected in your current guidance?
Research analysts who have asked questions during SEALED AIR CORP/DE earnings calls.
Edlain Rodriguez
Mizuho Securities
5 questions for SEE
Gabe Hajde
Wells Fargo & Company
5 questions for SEE
Matthew Roberts
Raymond James
5 questions for SEE
Philip Ng
Jefferies
5 questions for SEE
Stefan Diaz
Morgan Stanley
5 questions for SEE
Anthony Pettinari
Citigroup Inc.
4 questions for SEE
Joshua Spector
UBS
4 questions for SEE
Michael Roxland
Truist Securities
4 questions for SEE
Arun Viswanathan
RBC Capital Markets
3 questions for SEE
Christopher Parkinson
Wolfe Research
3 questions for SEE
George Staphos
Bank of America
3 questions for SEE
Ghansham Panjabi
Robert W. Baird & Co.
3 questions for SEE
Jeffrey Zekauskas
JPMorgan Chase & Co.
2 questions for SEE
Jeff Zekauskas
JPMorgan Chase & Co.
2 questions for SEE
Josh Westley
Robert W. Baird & Co.
2 questions for SEE
Brian Dong
RBC Capital Markets
1 question for SEE
Josh Spector
UBS Group
1 question for SEE
Niccolo Piccini
Truist Securities
1 question for SEE
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
LB Holdco, Inc | 2023 | Completed acquisition of 100% of LB Holdco, Inc. on February 1, 2023, for approximately $1.17 billion in cash financed via a senior secured credit facility, issuance of senior notes, and cash; the deal is strategic to accelerate the CRYOVAC® Fluids & Liquids business by integrating Liquibox’s sustainable packaging solutions, resulting in significant goodwill and intangible assets. |
Foxpak Flexibles Ltd. | 2022 | Completed acquisition on February 2, 2022 for a total purchase price of $9.7 million, allocated as $5.3 million in goodwill, $2.7 million in identifiable intangible assets, and a $0.3 million deferred tax liability; the acquisition enhances digital printing and highly decorated packaging capabilities in the Food reporting segment, targeting markets such as food retail and pet food. |
Recent press releases and 8-K filings for SEE.
- Sealed Air raised its full-year 2025 adjusted EBITDA guidance to a range of $1.12-$1.14 billion, an increase of $5 million from the prior midpoint, while maintaining its full-year sales target midpoint of $5.3 billion.
- The Protective segment's Q3 adjusted EBITDA increased 1.5% in constant currency to $78 million, marking its first year-over-year adjusted EBITDA growth since Q1 2024, despite sales being down 3% on a constant currency basis. The Food segment's adjusted EBITDA increased 3% in constant currency to $215 million.
- The company anticipates market pressures, including lower volumes (down about 4% in Q4, primarily in North American food) and competitive pricing, to accelerate in Q4 2025, with volume weakness expected to persist through at least the first half of 2026.
- Sealed Air is implementing productivity initiatives, cost reductions, and network optimization across both segments, and Kristin Actez Grande joined in late August to help accelerate transformation efforts.
- For Q3 2025, Sealed Air reported Net Sales of $1.35 billion, an increase of 0.5% as reported but down 1% in constant currency. Adjusted EBITDA was $287 million, up 4% as reported and 3% in constant currency, with Adjusted EPS at $0.87, up 10% as reported.
- The company's Net Debt / Adjusted EBITDA ratio was 3.5x as of Q3 2025, with a target to reach ~3.0x in 2026. Year-to-date Free Cash Flow for 2025 was $201 million, down from $323 million in the same period of 2024, primarily due to higher incentive compensation and timing of tax payments.
- Sealed Air updated its 2025 outlook, projecting Net Sales between $5.275 billion and $5.325 billion, Adjusted EBITDA between $1.12 billion and $1.14 billion, and Adjusted EPS between $3.25 and $3.35. The Free Cash Flow outlook remains $350 million to $450 million.
- Sealed Air Corporation reported Net Sales of $1,351 million for Q3 2025, a 0.5% increase compared to the prior year. Adjusted EBITDA increased 4.2% to $287 million, and Adjusted Diluted EPS rose 10.1% to $0.87.
- The company's performance was driven by improved operating leverage, ongoing execution of productivity initiatives, and a favorable resolution of historical tax matters.
- Sealed Air continued its deleveraging efforts, reducing total debt to $4.2 billion as of September 30, 2025, and achieving a Net Debt to Adjusted EBITDA ratio below 3.5x.
- The 2025 full-year outlook for Adjusted EBITDA and Adjusted EPS was raised, with Adjusted EBITDA now projected between $1,120 million and $1,140 million and Adjusted EPS between $3.25 and $3.35.
- Sealed Air Corporation reported Q3 2025 net sales of $1,351 million, a slight increase from $1,345 million in Q3 2024.
- Net earnings significantly improved to $186 million or $1.26 per diluted share in Q3 2025, compared to $89 million or $0.61 per diluted share in Q3 2024, primarily due to improved operating leverage and favorable resolution of historical tax matters.
- Adjusted EBITDA increased by 4% to $287 million and Adjusted Diluted EPS rose by 10% to $0.87 in Q3 2025, driven by productivity initiatives and lower interest expense.
- The company raised its full-year 2025 outlook for Adjusted EBITDA to a range of $1,120 million to $1,140 million and Adjusted EPS to $3.25 to $3.35, while maintaining the mid-point for Net Sales and Free Cash Flow.
- Sealed Air continued its deleveraging efforts, reducing Net Debt to $3.9 billion as of September 30, 2025, resulting in a Net Debt to Adjusted EBITDA ratio of 3.5x.