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By the numbers: Q4 and full-year 2025
 
Q4 net sales: $1.4B
Up 2.1% year over year
 
Full-year sales: $5.36B
Down 0.6% year over year
 
Q4 net earnings: $44M
Company did not report for 2024
 
Full-year net earnings: $441M
Compared with $270M in 2024
  • Overview: Sealed Air did not hold an earnings call due to its pending acquisition by private equity firm CD&R that would take the company private. On Monday it released data for fourth-quarter and full-year 2025 results, but the company did not include an outlook for 2026. 
  • Segment results: Q4 net sales for the food segment increased 2% and in protective segment increased 3%, while full-year sales for the segments were flat and down 2%, respectively. Sealed Air also switched up its food segment leadership in Q4. In December, it announced that Russell Grissett joined the company from Toppan Packaging Americas to be the new food business president. That came a few weeks after announcing previous food leader Steven Flannery would leave the company immediately.
  • Cash flow and net debt: Cash flow from operating activities was $628 million in 2025, down from $728 million in 2024. Capital expenditures for the year were $170 million, compared with $220 million in 2024. Net debt decreased to $3.7 billion, compared with $4 billion at the end of 2024, bringing the 2025 net leverage ratio down to 3.2x from 3.6x the year prior.
  • Acquisition update: Sealed Air reiterated that the acquisition by Clayton, Dubilier & Rice is slated to close in mid-2026, subject to final regulatory clearances. Last week, the company’s shareholders approved the acquisition in a special vote, with the vast majority in favor. The European Commission gave its approval just days before, saying the transaction would not raise concerns about competition. Sealed Air stated in its earnings release that the all-cash transaction will have an enterprise value estimated at $10.3 billion.