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Jul 03, 2021
Berry Plastics Q3 2021 Earnings Report
Berry Global Group's Q3 2021 results were reported, featuring a 26% increase in net sales and a 1% rise in adjusted EPS.
Key Takeaways
Berry Global Group reported a strong third quarter with a 26% increase in net sales to $3.7 billion, driven by increased selling prices and organic volume growth. The company is raising its fiscal year 2021 outlook for operating EBITDA to $2.26 billion and reaffirming its organic volume growth assumption of 5%.
Net sales increased by 26% to $3.7 billion, including 5% organic volume growth.
Operating income reached $343 million, with an operating EBITDA of $565 million.
Net income per share (EPS) was $1.40, while adjusted EPS rose by 1% to $1.53.
Operating EBITDA guidance for fiscal year 2021 was increased to $2.26 billion.
Revenue by Segment
Forward Guidance
Berry Global is increasing its operating EBITDA guidance to $2.26 billion and reaffirming its organic volume growth assumption for fiscal 2021 of 5%.
Positive Outlook
- Continued strength and stable demand outlook across businesses
- Building on last year’s strong performance
- Supported by robust and growing pipeline
- Increased level of capital expenditures
- Positive trends and momentum in each of our businesses
Challenges Ahead
- Timing lag of cost inflation recovery continuing in the September quarter
- Expected free cash flow for fiscal 2021 is in-line with prior guidance at $875 million dollars
- Significant cost inflation
- Cost inflation is expected to negatively impact working capital
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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