Revenue Analysis:

Total and Operating Revenue: Over the past year, SEE’s total and operating revenue showed fluctuations but overall growth. From Q1 2023 to Q1 2024 operating revenue increased from $1,348,800,000 in March 2023 to $1,329,600,000 by March 2024, indicating an overall upward trend despite a slight decline from the previous year.

Gross Profit Margins: Gross profit has also seen growth, starting from $405,100,000 in March 2023, and rising to $400,800,000 by March 2024. This suggests a relative stability in the cost of goods sold and sales efficiency.

Cost Management:

Cost of Revenue: The cost of revenue increased slightly from $903,000,000 in March 2023 to $928,800,000 in March 2024, reflecting increased costs or volume of goods sold.

Operating Expense: Operating expenses have shown a significant variation with $238,900,000 in March 2023, demonstrating tight control and effective cost management.

Total Expenses: Total expenses grew from $1,182,600,000 in March 2023 to $1,130,900,000 in March 2024, showcasing effective expense management despite an increase in revenue.

Profitability Analysis:

EBITDA: EBITDA increased from $210,400,000 in March 2023 to $243,900,000 by March 2024, indicating improved operating efficiency.

Operating Income: Operating income rose from $166,200,000 in March 2023 to $198,700,000 by March 2024, reflecting better profitability from operations.

Pretax Income: Pretax income showed substantial growth from $96,700,000 in March 2023 to $119,100,000 by March 2024.

Net Income: Net income showed a decrease, moving from $61,900,000 in March 2023 to $82,000,000 in March 2024, which may be attributed to various non-operational factors and taxation changes.

Cash Flow Indicators:

Reconciled Depreciation: Depreciation expenses were managed effectively, ranging from $55,900,000 in March 2023 to $59,700,000 by March 2024.

Interest Expense: Interest expense shows a significant fluctuation due to changes in debt levels or interest rates, from $57,800,000 in March 2023 to $65,100,000 by March 2024.

Taxation:

Tax Rate For Calcs: The effective tax rate has varied near 30% over the observed periods, indicating stable taxation policies impacting the company.

Tax Provision: Tax provision spiked from $33,800,000 in March 2023 to $35,700,000 in March 2024 which corresponds with the increase in pretax income.

Tax Effect of Unusual Items: The reduction in tax effect from unusual items from $3,914,788 in March 2023 to $5,755,164 by March 2024 suggests fewer or smaller non-recurring events during the latter period.

Shareholder Metrics:

Diluted and Basic EPS: Both diluted and basic EPS have shown an increase from 0.43 in March 2023 to 0.56 by March 2024, benefiting shareholders.

Average Shares: The number of shares remained stable, indicating no significant dilution or buybacks over the period.

Net Income Available to Common Stockholders: This metric grew alongside net income, increasing the total return to shareholders.

Conclusion:

SEE has demonstrated solid revenue growth, effective cost management, and increased profitability over the past year. The consistent increase in operating income and net income highlights strong operational control and effective strategic initiatives. However, attention should be given to the rising interest expenses and the implications of the tax provisions. It is recommended to continue monitoring cost management and exploring ways to leverage financial structures for better interest management.