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Dec 31, 2022
Pactiv Evergreen Q4 2022 Earnings Report
Pactiv Evergreen's Q4 2022 financial performance exceeded expectations, driven by focus on operational performance and delivering high service levels. Company announced Beverage Merchandising restructuring plan.
Key Takeaways
Pactiv Evergreen reported Q4 2022 financial results exceeding guidance, with net revenues of $1,476 million and net income from continuing operations of $27 million. The company announced a restructuring plan for its Beverage Merchandising operations, expecting annualized cost reductions of approximately $30 million and capital expenditure reductions of approximately $50 million by 2024.
Net revenues for Q4 2022 were $1,476 million, a decrease of 3% compared to Q4 2021.
Net income from continuing operations for Q4 2022 was $27 million, a decrease of 21% compared to Q4 2021.
Adjusted EBITDA for Q4 2022 was $167 million, a decrease of 19% compared to Q4 2021.
Company announced plans to restructure Beverage Merchandising operations, expecting significant restructuring charges and cost reductions.
Revenue by Segment
Forward Guidance
The Company is providing Adjusted EBITDA guidance in the range of $755 million to $780 million for full year 2023 and approximately $160 million for the first quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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