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Sep 26, 2020
Berry Plastics Q4 2020 Earnings Report
Reported record results for the fourth quarter and fiscal year 2020.
Key Takeaways
Berry Global Group reported flat net sales of $3 billion with a 4% organic volume increase. Operating income was $349 million, and operating EBITDA increased by 18% to $586 million. Net income per diluted share was $1.44, and adjusted net income per diluted share increased by 77% to $1.59.
Net sales of $3 billion with 4% organic volume growth.
Operating income of $349 million.
Operating EBITDA up 18% to $586 million.
Adjusted net income per diluted share increase of 77% to $1.59.
Revenue by Segment
Forward Guidance
Berry Global anticipates fiscal year 2021 operating EBITDA to be in the range of $2.15 to $2.2 billion and free cash flow range of $875 to $975 million.
Positive Outlook
- Another year of organic volume growth of 2 percent.
- Robust and growing pipeline.
- Increased level of capital expenditures.
- Positive trends and momentum in each of businesses.
- Further strengthening balance sheet with leverage ratio to be 3.8 to 3.9 times at the end of fiscal 2021.
Challenges Ahead
- Guidance considers the divestiture of U.S. flexible packaging converting business.
- Assumed divestiture completed in the first fiscal quarter of 2021.
- Divested business generated approximately $25 million dollars of operating EBITDA in fiscal 2020.
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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