SEE Reports Q1 2023 Results

*Net sales of $1.3 billion, down 5% as reported; down 2% constant currency
*Net earnings of $63 million, down 58%
*Earnings per share (Diluted) of $0.44, down 56%
*Cash flow from operations (year to date) of $52 million, up 7%

“We continue to execute well despite the anticipated challenging first quarter driven by the recessionary environment and continued destocking. I want to thank our global team for their tireless efforts serving our customers and driving our performance during these difficult times.

We remain confident in driving growth in the second half of 2023 with the addition of Liquibox, reduced destocking and expected market recovery.

SEE continues to create value for our customers and shareholders as a world-class market-led company powered by automation, digital and sustainable packaging solutions,” said Ted Doheny, SEE’s President and CEO.
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