Sealed Air Corp. Q2 2009 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2009-07-29 13:58:18.0

Tags: Bank, Food, Europe, Call Transcript, Earnings, North America, Sealed Air Corp., Food & Beverage, Financial Services, Manufacturing, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions). We'll go first to George Staphos, with Bank of America.

George Staphos - Bank of America/Merrill Lynch

Couple of quick questions to start, number one, was there any appreciable effect on volume do you think, Dave or Bill form H1N1? And then the related follow-on, can you give us a bit more color on trends within case-ready by geography, have you seen a pick up in North America after some of the volume loss that's occurred in the last couple of years? Thanks

Bill Hickey

George, on HINI, our numbers in may show; pork was really down 27% in May, but that's the total market in terms of information we have. That's not our sales. But the total pork and pork meats from the U.S. government report show down 27%. We did have slightly down numbers in pork in the second quarter. Our numbers were down more, 3% to 5% range in North America. In Mexico, we did see an effect in pork meat and that was again over a very hectic three week period. So the answer to your question is yes, but it was short lived. It was mainly in May.

George Staphos - Bank of America/Merrill Lynch

It could have been a point or two in your food volume [significant].

Bill Hickey

I don't think it was a point or two.

George Staphos - Bank of America/Merrill Lynch

Okay. All right. Trying to help you out there?

Bill Hickey

Okay. Yes?

George Staphos - Bank of America/Merrill Lynch

So for case-ready?

Bill Hickey

On case-ready, case-ready volumes are reasonably consistent around the world. The numbers I have is down 11% for the quarter year-over-year, and that's equally spread between North America and Europe. Latin America, I think, was more pretty stable in case-ready and Asia was actually also stable in case-ready.

There is no particular trend, Europe is actually doing a little better in case-ready because of Mirabella they've been an early adopter of Mirabella in case-ready where the U.S. has been a little bit slow on that. That's sort of a quick outlook on it. And what was your sort of third piece?

George Staphos - Bank of America/Merrill Lynch

No, you've generally hit it there. Just maybe a quick aside, why is Europe adopting Mirabella quicker? Thanks.

Bill Hickey

Yeah, I guess you see a lot of the food innovations come out of Europe. But Europe tends to be more open to making reasonably quick changes in their packaging formats, and that's the only reason I can attribute it to.

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement