Berry Global Group, Inc. (BERY) recently collaborated with French natural cosmetics company, La Rosée, to develop a unique refillable deodorant stick named Exclusive Refill. Zacks Rank and Price Performance Stocks to Consider The consensus estimate for BRC's fiscal 2024 earnings has increased 3.3% in the past 60 days. Shares of Brady have gained 10.9% in the year-to-date period. La Rosée and Berry Global development teams have collaboratively researched for two years to develop the La Rosée deodorant. The f ...

Berry Global Group, Inc. (BERY) recently announced that it has achieved an important regulatory milestone regarding the proposed tax-free spin-off and merger of the majority of its Health, Hygiene and Specialties segment with Glatfelter Corporation (GLT) . The majority of Berry Global's Health, Hygiene and Specialties segment comprises the Global Nonwovens and Films business ("HHNF"), which will be merged with Glatfelter to form a new entity known as NewCo. Based in Charlotte, NC, Glatfelter is engaged in m ...

In April 2023, the company completed the construction of a second manufacturing facility and Global Healthcare Center in Sira, Bangalore. The Sira facility extends Berry Global's research and development expertise and increases production in several major healthcare sectors. The new facility enables the company to increase supply in India and throughout South Asia, thereby capitalizing on the growing opportunities across the healthcare markets in the region. Also, Berry Global started expanding one of its s ...

Berry Global Group, Inc. (BERY) recently announced the pricing of $800 million principal amount of first priority senior secured notes due 2031 in a private placement. The sale of the notes is expected to close on or around May 28, 2024, by the company's wholly-owned subsidiary, Berry Global, Inc. The company's shares lost 0.3% yesterday, ending the trading session at $59.70. Inside the Headlines The notes will be offered only to qualified institutional buyers in accordance with Rule 144A under the Securiti ...

In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investors now place great importance on grasping the extent of a company's dependence on international markets, as it sheds light on the firm's earnings stability, its skill in leveraging various economic cycles and its broad growth potential. Presence in international markets can act as a hedge against domestic economic downturns ...

Berry Global Group, Inc. (BERY) reported second-quarter fiscal 2024 (ended March 2024) adjusted earnings of $1.95 per share, which beat the Zacks Consensus Estimate of $1.90. The bottom line decreased 0.5% year over year.Net sales of $3.07 billion missed the consensus estimate of $3.12 billion. The top line decreased 6.4% year over year due to a 2% dip in volumes and a 5% negative impact from lower resin costs.Berry Global’s cost of goods sold decreased 6.5% to $2.5 billion. Selling, general and administrat ...

For the quarterly period ended March 30, 2024 Commission File Number 001-35672 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share BERY New York Stock Exchange LLC Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company ...

| --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | Earnings Conference Call Supplement Thursday, May 9th, 2024 @ 10AM ET Fiscal 2024 – 2nd Quarter Earnings Presentation | Safe Harbor Statements Forward-Looking Statements Statements in this presentation that are not historical, including statements relating to the expected future performance of the Company, as well as estimates and stateme ...

Financial Data and Key Metrics - Adjusted earnings per share for Q2 2024 was $1.95, similar to the prior year, while operating EBITDA was down 5% due to softer volumes and polymer cost pass-through timing [26] - The company reaffirmed its fiscal 2024 guidance, expecting low single-digit volume growth in the second half of the year and year-end leverage of 3.5x or lower [17] - Free cash flow is expected to be in the range of $800 million to $900 million for fiscal 2024, with cash from operations of $1.35 billion to $1.45 billion and capital expenditures of $550 million [44] Business Line Performance - Consumer Packaging International revenue was down 8%, primarily due to polymer cost pass-through, with EBITDA down 4% [27] - Consumer Packaging North America revenue declined 4%, driven by softer customer demand and lower selling prices, with EBITDA down 11% [29][31] - Flexibles revenue decreased 9%, primarily due to lower resin costs and volume softness, while EBITDA remained flat [32] - Health, Hygiene, and Specialties revenue was down 6%, with EBITDA essentially flat, driven by cost reductions offset by resin pass-through timing [33] Market Performance - North America showed strong performance, particularly in food, beverage, personal care, and home care markets, while Europe saw incremental improvements [27][29] - The company observed substrate conversions to plastic from paper, foam, glass, and metal, driven by sustainability efforts and consumer experience improvements [30] Strategic Direction and Industry Competition - The company is focused on portfolio optimization, lean transformation, and commercial excellence to drive growth and operational efficiency [10][13] - Berry expanded its cost savings program by an additional $25 million, bringing the total to $165 million, with savings expected by the end of fiscal 2025 [9] - The proposed spin-off and merger of the Health, Hygiene, and Specialties segment with Glatfelter is expected to close in the second half of 2024, creating a leading specialty materials company [11] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the second half of fiscal 2024, driven by easing inflation, improved volumes, and cost reduction efforts [17][43] - The company remains optimistic about achieving peer-leading performance, with a focus on low leverage, cost reductions, and organic growth [46] Other Key Information - Berry completed two divestitures in Q2, generating approximately $150 million in revenue, and expects to generate over $2 billion from strategic divestitures in the next year [18][35] - The company has reduced net debt by more than $3 billion since mid-2019 and returned over $1.5 billion to shareholders through share repurchases and dividends [38] Q&A Session Summary Question: Confidence in achieving strong second-half growth - Management cited easier year-over-year comparisons, strong April volumes, and improved foodservice performance as key drivers of confidence [51][53] - The company expects an $80 million EBITDA improvement in the second half of 2024 compared to 2023, driven by volume recovery and resin cost pass-through timing [54] Question: Divestiture strategy and proceeds - The additional $1 billion in expected divestiture proceeds excludes the Health, Hygiene, and Specialties segment and already divested businesses, with proceeds expected to be used for deleveraging and core business growth [56] Question: Lean transformation and commercial excellence - The company is focused on improving first-pass yield, reducing unplanned downtime, and automating SG&A processes to drive cost reductions and growth [66][68] Question: Glatfelter transaction valuation - Management believes the market is undervaluing the Glatfelter transaction, citing improving business performance and significant synergy potential [103] Question: Volume improvement drivers - The company attributed volume improvements to reduced destocking, increased promotional activity, and improved consumer consumption levels [98][109] Question: Portfolio optimization focus - Divestiture opportunities are primarily in the Flexibles and Consumer Packaging International segments, with a focus on reducing industrial exposure and increasing consumer-facing businesses [111]

Berry Global (BERY) came out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.90 per share. This compares to earnings of $1.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.63%. A quarter ago, it was expected that this packaging company would post earnings of $1.29 per share when it actually produced earnings of $1.22, delivering a surprise of -5.43%.Over the last four quarters, the co ...