Sealed Air Corporation (NYSE: SEE), a leading provider of packaging solutions, saw its shares soar 12.85% on Tuesday after reporting better-than-expected fourth-quarter and full-year 2024 results, driven by robust demand for its food packaging products and ongoing productivity improvements.

For the fourth quarter, Sealed Air reported adjusted earnings per share (EPS) of $0.75, surpassing analysts' consensus estimate of $0.67. Revenue remained relatively flat at $1.37 billion, slightly above expectations of $1.36 billion.

The company's strong performance was primarily attributed to its Food segment, which witnessed a 3% increase in sales due to competitive share gains and continued end-market demand. Additionally, Sealed Air's cost take-out program, dubbed "CTO2Grow," generated $89 million in incremental cost savings for the full year, contributing to improved profitability.

For the full year 2024, Sealed Air reported adjusted EPS of $3.14, slightly lower than the previous year's $3.18, but above the consensus estimate of $3.12. The company's revenue declined by 1.8% to $5.39 billion, primarily due to unfavorable pricing in the Protective segment, partially offset by volume growth in the Food segment.

Looking ahead to 2025, Sealed Air provided an optimistic outlook, projecting adjusted EPS in the range of $2.90 to $3.30 and revenue between $5.1 billion and $5.5 billion. The company expects continued growth in its Food segment, driven by its case-ready and fluids solutions, as well as further margin expansion through productivity improvements.