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Dec 31, 2021
Pactiv Evergreen Q4 2021 Earnings Report
Pactiv Evergreen's fourth quarter results were reported, demonstrating revenue growth and strategic progress.
Key Takeaways
Pactiv Evergreen reported a 30% increase in net revenues for Q4 2021, driven by favorable pricing and the acquisition of Fabri-Kal. Net income from continuing operations increased to $34 million. The company is focused on strategic priorities, including the Fabri-Kal integration and streamlining operations in North America.
Net revenues increased by 30% to $1,527 million compared to the prior-year period.
Net income from continuing operations was $34 million, up from $18 million in the prior-year period.
Adjusted EBITDA from continuing operations increased to $205 million from $170 million in the prior-year period.
The company completed the acquisition of Fabri-Kal and is progressing with its integration.
Revenue by Segment
Forward Guidance
The Company is providing guidance for Adjusted EBITDA from continuing operations of $705 million for 2022.
Positive Outlook
- Continued pricing initiatives across all three businesses
- Continued inflationary pressures and labor challenges in the first half of 2022 moderating into the second half of 2022
- Moderate volume growth due to tougher comparisons
- Normalization of inventory levels to improve service and reliability
- Full year contribution from the Fabri-Kal acquisition
Challenges Ahead
- Significant inflationary pressures
- Volatility in raw material costs
- Continued labor challenges
- Omicron variant impacted production capabilities and volume in December 2021 and into the early part of the first quarter of 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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