Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental ...

Since the supply shock of 2022, the energy sector has been driven by growth in oil refiners who have benefited from favorable spreads between the price of oil and its distillates. However, growth has not been limited to refiners, with explorers and producers, equipment and services gaining ground as well.Geopolitical factors have played the most significant role, as they did in 2022. The threat of a broader conflict with Iran has increased with the inauguration of President Donald J. Trump. U.S. sanctions o ...

DALLAS, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ:BRY) ("Berry" or the "Company") today announced the appointment of Jeff Magids as the Company's Vice President, Chief Financial Officer, effective January 21, 2025. Mike Helm will continue in his position as Vice President, Chief Accounting Officer. Jeff's extensive experience, including in finance, capital markets and M&A, enhances the Company's financial and strategic leadership capabilities and underscores the Company's focus on de ...

DALLAS, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ:BRY) ("Berry" or the "Company") announced the closing of a comprehensive refinancing of its existing indebtedness on December 24, 2024 (the "Transactions"), providing the Company with capital and liquidity to continue progressing Berry's corporate strategy: Ensuring capital and liquidity to execute on the Company's development plans including unlocking the significant upside potential in Utah to drive long-term shareholder valueExtend ...

Berry Global Group, Inc. (BERY) recently entered into a deal to divest its Specialty Tapes business (Tapes) to private equity firm Nautic Partners, LLC (Nautic) for about $540 million.Based in Rhode Island, Nautic is a middle-market private equity firm that specializes in sub-verticals within three key sectors, Healthcare, Industrials and Services. The company partners with executives to drive growth through acquisitions, initiatives and team expansion.The divestment of the Tapes business will help Berry Gl ...

We are currently offering a free two-week trial to Distressed Value Investing . Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies.Berry Corporation (NASDAQ: BRY ) has entered into an agreement for a new term loan that will address its near-term debt maturity issues and potentially push its next debt maturity out to 2029 (with extensions).Aaron ...

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].