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Jun 29, 2024
Berry Plastics Q3 2024 Earnings Report
Berry Global reported third quarter results with revenue and earnings in line with expectations, driven by organic volume growth and margin expansion.
Key Takeaways
Berry Global reported Q3 2024 results, achieving net sales of $3.2 billion and operating income of $303 million. The company saw a 2% increase in overall organic volumes, with growth across all four operating segments. Adjusted EPS was $2.18, up 16% year-over-year, and operating EBITDA reached $546 million. The company is progressing with its portfolio optimization, including the planned spin/merger of its Health, Hygiene & Specialties segment.
Net sales reached $3.2 billion with a 2% decrease due to lower resin prices, offset by volume growth.
Operating income increased by 13% to $303 million, driven by organic volume growth and positive price-cost spread.
Adjusted EPS was $2.18, reflecting a 16% increase compared to the previous year.
Organic volume growth of 2% was achieved, with all four operating segments contributing.
Revenue by Segment
Forward Guidance
Berry Global provided fiscal year 2024 guidance, including adjusted earnings per share of $7.60 and free cash flow between $800 and $900 million. The company is committed to achieving a leverage ratio at or below 3.5x.
Positive Outlook
- Adjusted earnings per share of $7.60
- Cash flow from operations of $1.4-$1.5 billion
- Free cash flow of $800-$900 million
- Committed to being 3.5x leverage or lower
- Focus on portfolio optimization
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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