The 2020 Mid-Year Economic Update_long

Sealed Air Sales Up 1.9% in 2Q

Year-to-date sales up 0.9 percent year-over-year.

Sealed Air Corp. (NYSE: SEE), Elmwood Park, NJ, reported sales for the second quarter of $2 billion, an increase of 1.9 percent year-over-year. Profit increased 7.1 percent to $60.3 million.

Food care division sales for the quarter were up 1.6 percent. Diversey care division sales were up 2 percent, while product care division sales were up 3.5 percent.

The company had sales growth of 8 percent in Latin America, 6.6 percent in AMAT (Asia, Middle East, Africa and Turkey), 2.7 percent in North America, 1.7 percent in JANZ (Japan, Australia and New Zealand) and 0.7 percent in Europe. Additionally, second quarter 2014 reported net sales from developing regions increased 7.6 percent in constant dollars, primarily attributable to strong demand in China, which delivered 12.6 percent constant dollar sales growth.

Year-to-date sales were $3.8 billion, up 0.9 percent over the prior-year period. Profit increased to $132.1 million from $59 million in the second quarter of 2013.

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