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Oct 01, 2022
Berry Plastics Q4 2022 Earnings Report
Berry Global Group reported Q4 2022 results, with increased operating EBITDA and adjusted earnings per share.
Key Takeaways
Berry Global Group, Inc. reported fourth-quarter results, featuring net sales of $3.4 billion, operating income of $336 million, and earnings per share of $1.85. Adjusted earnings per share reached a record $2.19, an 18% increase. The company's operating EBITDA increased by 9% to $539 million. For fiscal year 2022, Berry reported record net sales of $14.5 billion and adjusted earnings per share of $7.40.
Net sales of $3.4 billion.
Operating income of $336 million; Operating EBITDA of $539 million, a 9% increase.
Earnings per share of $1.85; record adjusted earnings per share of $2.19, an 18% increase.
Initiated $0.25 per share quarterly cash dividend, capital allocation milestone.
Berry Plastics
Berry Plastics
Berry Plastics Revenue by Segment
Revenue by Segment
Consumer Packaging - Intl Revenue
CapyFin.comConsumer Packaging - NA Revenue
CapyFin.com Forward Guidance
Berry Global Group provided fiscal year 2023 guidance, including adjusted earnings per share in the range of $7.30 - $7.80 and free cash flow in the range of $800 - $900 million.
Positive Outlook
- Adjusted earnings per share range of $7.30 - $7.80, 8% expected mid-point growth versus comparable prior year
- Cash flow from operations range of $1.4 - $1.5 billion; free cash flow range of $800 - $900 million expected
- Initiated $0.25 per share quarterly cash dividend, capital allocation milestone
- Anticipate returning at least $700 million of capital to shareholders through share repurchases and dividends
- The Company expects to return over $700 million through share repurchases and dividends in fiscal 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income