Core Viewpoint - Berry Global Group, Inc. is set to be acquired by Amcor plc, with financial terms undisclosed, marking a significant merger in the packaging industry [1][3]. Group 1: Merger Details - The merger combines Berry Global's regional flexible packaging and global containers with Amcor's global flexible packaging and regional container businesses, creating a leading entity in consumer packaging solutions [3]. - Berry Global shareholders will receive 7.25 Amcor shares for each share held, valuing Berry's stock at $73.59 per share, with Berry holding approximately 37% and Amcor 63% of the combined company [4]. - The transaction is expected to close in mid-2025, pending necessary approvals [5]. Group 2: Financial Projections - The new company is projected to generate $24 billion in revenues and $4.3 billion in adjusted EBITDA, serving customers in over 140 countries with around 400 production facilities [5]. Group 3: Market Performance - Berry Global's shares increased by 4.3% to close at $69 following the acquisition announcement [2]. - Over the past year, Berry Global's stock has gained 7.6%, while the industry has seen a growth of 20.2% [6]. Group 4: Business Strengths and Challenges - Berry Global is experiencing strength in its Consumer Packaging North America segment, supported by investments in advanced technologies and sustainable solutions [7]. - However, the company faces challenges in its Consumer Packaging International unit due to reduced selling prices linked to lower resin prices [7].

Core Insights - Berry Global Group, Inc. reported fourth-quarter fiscal 2024 adjusted earnings of $2.27 per share, exceeding the Zacks Consensus Estimate of $2.25, although it represented a 0.9% decrease year over year [1] - The company's net sales reached $3.16 billion, surpassing the consensus estimate of $3.15 billion, marking a 3% year-over-year increase driven by higher selling prices and 1% organic volume growth [1] Segmental Discussion - The Health, Hygiene and Specialties segment will undergo a tax-free spin-off and merge with Glatfelter Corporation, while the Engineered Materials segment has been renamed to Flexibles to focus on higher value products [2] - International net sales in the Consumer Packaging segment amounted to $999 million, consistent with the previous year's figure, with operating income decreasing 14% year over year to $72 million [3] - North American Consumer Packaging net sales totaled $840 million, a 7% increase year over year, with operating income rising 32% to $124 million [4] - The Health, Hygiene & Specialties segment reported net sales of $642 million, a 2% increase year over year, but operating income fell 69.4% to $11 million [5] - The Flexibles segment generated net sales of $687 million, a 2% year-over-year increase, with operating income down 29% to $62 million [6] Costs & EBITDA - Berry Global's cost of goods sold increased by 3.1% to $2.6 billion, while selling, general and administrative expenses rose 6.1% year over year to $228 million [7] - The company reported operating EBITDA of $546 million, remaining flat year over year, and operating income decreased by 11% to $269 million [7] Balance Sheet and Cash Flow - At the end of the fourth quarter, Berry Global had cash and cash equivalents of $1.1 million, down from $1.2 billion at the end of fiscal 2023, with total debt at $8.3 billion [8] - In fiscal 2024, the company generated net cash of $1.4 billion from operating activities, down from $1.6 billion in the previous year, with capital expenditure totaling $551 million [9] - Berry Global reported an adjusted free cash flow of $854 million, a decrease from $926 million in the prior year, and repurchased 2 million shares for approximately $120 million [9] Acquisition Announcement - Berry Global has entered into an agreement to be acquired by Amcor plc for $8.43 billion in an all-stock transaction, enhancing its position in consumer and healthcare packaging markets [11] - Shareholders will receive $73.59 per share, representing a 9.75% premium over the last closing price, with the acquisition expected to close in mid-2025, subject to regulatory approvals [12] Fiscal 2025 Guidance - Berry Global anticipates adjusted earnings in the range of $6.10-$6.60 per share for fiscal 2025, with expected cash flow from operations between $1.125 billion and $1.225 billion [13]

Group 1 - Rowley Law PLLC is investigating potential securities law violations by Berry Global Group, Inc. and its board of directors regarding the proposed acquisition by Amcor plc [1] - Stockholders of Berry Global Group will receive 7.25 shares of Amcor common stock for each share of Berry Global Group stock they hold [1] - The acquisition transaction is expected to close in mid-2025 [1]

Core Viewpoint - Bri-Chem Corp. reported a significant decline in financial performance for Q3 2024, primarily due to decreased US drilling activities and a lower average rig count, leading to reduced sales and earnings across its divisions [1][3][9]. Financial Performance - Consolidated sales for Q3 2024 were $21.975 million, an 18% decrease from $26.83 million in Q3 2023, attributed to lower US drilling activity [2][5]. - Adjusted EBITDA for Q3 2024 was $587 thousand, down 44% from $1.051 million in the same period last year, with EBITDA as a percentage of revenue decreasing from 4% to 3% [2][8]. - Operating earnings for Q3 2024 were $234 thousand, a decrease of 80% from $1.185 million in Q3 2023 [2][4]. - The adjusted net loss per diluted share for Q3 2024 was $0.02, compared to a loss of $0.01 per diluted share in the same period last year [2][4]. Segment Performance - The Canadian drilling fluids distribution division generated sales of $3.8 million in Q3 2024, slightly down from $3.9 million in Q3 2023, reflecting a slowdown in select commodity items [6]. - The US drilling fluids distribution division saw sales drop to $11.7 million in Q3 2024 from $15.5 million in Q3 2023, a decrease of 24%, due to a decline in the US rig count [6]. - The Canadian blending and packaging division reported an increase in sales to $4.6 million in Q3 2024 from $3.9 million in Q3 2023, driven by higher cementing and stimulation activities [7]. Financial Position - As of September 30, 2024, working capital was $13.74 million, down 14% from $16 million a year earlier, primarily due to an increase in accounts payable [5]. - Total assets decreased to $57.1 million from $70.5 million, a decline of 19% year-over-year [2]. Industry Outlook - The oil and gas industry faces challenges such as volatile commodity prices and restrained growth in US drilling activity, with major companies focusing on returning cash to shareholders rather than increasing production [9]. - There is optimism for fiscal 2025, contingent on stabilized commodity prices and favorable drilling policies following recent US election results [9].

Berry Corporation (NASDAQ:BRY) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Todd Crabtree - Investor Relations Fernando Araujo - Chief Executive Officer & Director Danielle Hunter - President Michael Helm - VP, Chief Financial Officer & Chief Accounting Officer Conference Call Participants Charles Meade - Johnson Rice Michael Schwartz - Jefferies Jay Spencer - Stifel Nicolaus Operator Welcome to the Berry Corporation Q3 2024 Earnings Call. At this time, all speakers are ...

FOCUSED A Western US Energy Company 2024 Q3 Earnings November 7, 2024 - Investor Presentation Scan with phone camera to browse to IR Reports Page bry.com ir@bry.com 661-616-3811 1 Disclaimer The information in this document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this document that address plans, activities, events, objecti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______________ to _______________ Commission file number 001-38606 Berry Corporation (bry) (Exact name of registrant as specified in its charter) Delaware (State of ...

PRESS RELEASE For Immediate Release Berry Corporation Reports Third Quarter 2024 Results Refinances Debt, Announces Uinta Basin Opportunities, and Declares Quarterly Dividend DALLAS, TX - November 7, 2024 (GLOBE NEWSWIRE) – Berry Corporation (bry) (NASDAQ: BRY) ("Berry" or the "Company") today reported third quarter 2024 results and quarterly fixed dividends totaling $0.03 per share. The Company also announced entry into a new $545 million term loan facility that will enable the successful completion of a t ...

Berry Petroleum (BRY) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -6.67%. A quarter ago, it was expected that this independent upstream energy company would post earnings of $0.20 per share when it actually produced earnings of $0.18, delivering a surprise of -10%. Over the last ...

Rising oil prices are weighing on the refining business as higher input costs squeeze margins. Additionally, a slowdown in oil production growth is likely to reduce profits from the upstream operations of integrated energy companies. The increasing demand for renewable energy is also casting a shadow over the future of the Zacks Oil & Gas US Integrated industry, making the outlook increasingly uncertain.Among the companies in the industry that will probably survive the business challenges are Cactus Inc. (W ...