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Jun 30, 2024
Pactiv Evergreen Q2 2024 Earnings Report
Pactiv Evergreen's second quarter results were impacted by end-market weakness and temporary operational disruptions at Pine Bluff mill.
Key Takeaways
Pactiv Evergreen reported a decrease in net revenues and adjusted EBITDA for the second quarter of 2024 compared to the previous year. The company is revising its full-year guidance to reflect these results and a slower-than-anticipated end-market demand recovery. They also announced an agreement to sell the Pine Bluff mill and Waynesville extrusion facility.
Net revenues decreased by 6% to $1,338 million compared to Q2 2023.
Net income was $20 million, compared to a net loss of $139 million in Q2 2023.
Adjusted EBITDA was $183 million, down from $217 million in Q2 2023.
The company announced an agreement to sell its Pine Bluff mill and Waynesville extrusion facility.
Pactiv Evergreen
Pactiv Evergreen
Pactiv Evergreen Revenue by Segment
Revenue by Segment
Foodservice Revenue
CapyFin.comFood and Beverage Merchandising Revenue
CapyFin.com Forward Guidance
Due to the Company’s second quarter results and the expected continuation of end-market related risks, as well as the pending divestiture of the Pine Bluff mill and Waynesville extrusion facility, the Company is revising its full year Adjusted EBITDA1 outlook to a range of $800 million to $820 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income