Pactiv Evergreen Q1 2022 Earnings Report
Key Takeaways
Pactiv Evergreen reported a solid start to 2022 with a 28% increase in net revenues compared to the prior year period. The growth was driven by favorable pricing and acquisitions, but partially offset by lower sales volume and inflationary pressures. Net income from continuing operations was $43 million, a significant improvement from the prior year's net loss of $11 million. Adjusted EBITDA also saw a substantial increase, reaching $182 million compared to $77 million in the prior year.
Net revenues increased by 28% to $1,495 million, driven by price/mix and acquisitions.
Net income from continuing operations was $43 million, compared to a net loss of $11 million in the prior year.
Adjusted EBITDA increased to $182 million from $77 million in the prior year.
The company is maintaining its Adjusted EBITDA guidance of $705 million for 2022.
Pactiv Evergreen
Pactiv Evergreen
Pactiv Evergreen Revenue by Segment
Forward Guidance
Pactiv Evergreen is maintaining its Adjusted EBITDA guidance of $705 million for 2022, remaining cautious due to continued inflationary pressures and uncertainty around global energy markets.
Positive Outlook
- Progress in mill operations.
- Improvement in labor levels.
- Confidence in managing higher costs.
- Execution on strategy to improve profitability.
- Ability to manage higher costs
Challenges Ahead
- Continued inflationary pressures in the market.
- Uncertainty around the global energy markets.
- Impact on raw materials.
- Impact on logistics.
- Impact on other costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income