PART I [Item 1. Business](index=4&type=section&id=Item%201.%20Business) Pactiv Evergreen Inc. is a leading North American manufacturer and distributor of fresh foodservice, food merchandising, and fresh beverage carton products - Pactiv Evergreen is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America, supplying a **broad and diversified mix** of companies including restaurants, distributors, supermarkets, and food producers[11](index=11&type=chunk) - The company's strategic initiatives are grouped into **six key areas**: growth, value-added customer service, profitable innovation, cost reduction, integration of the Beverage Merchandising segment and Fabri-Kal acquisition, and sustainability[15](index=15&type=chunk)[16](index=16&type=chunk) - **No single customer accounted for 10% or more** of net revenues in 2021, with the **ten largest customers accounted for 38%** of net revenues[20](index=20&type=chunk) [General](index=4&type=section&id=General) [Segment Overview](index=4&type=section&id=Segment%20Overview) - The company operates through **three reportable segments**: Foodservice, Food Merchandising, and Beverage Merchandising[12](index=12&type=chunk) - Foodservice: Manufactures food containers, drinkware, tableware, and serviceware for chain restaurants, QSRs, distributors, and institutional foodservice[13](index=13&type=chunk) - Food Merchandising: Produces clear rigid-display containers, prepared food containers, meat/poultry trays, and molded fiber egg cartons for supermarkets, grocery retailers, and food processors[13](index=13&type=chunk) - Beverage Merchandising: Manufactures cartons for fresh refrigerated beverages (dairy, juice) and integrated fresh carton systems, including liquid packaging board and paper-based products[13](index=13&type=chunk) [Strategy](index=5&type=section&id=Strategy) - Growth: Focus on product growth, quality, reliability, service, and safety[16](index=16&type=chunk) - Value-added customer service: Proactively implement new service methods and refine customer value proposition[16](index=16&type=chunk) - Profitable innovation: Introduce new and on-trend products to reinforce the existing portfolio[16](index=16&type=chunk) - Cost reduction: Optimize processes through automation, digital transformation, and supply chain streamlining[16](index=16&type=chunk) - Integration: Continue integrating Beverage Merchandising with Foodservice and Food Merchandising, capitalizing on synergies from the Fabri-Kal acquisition[16](index=16&type=chunk) - Sustainability: Maintain and grow the broadest sustainable product offering and operate in an environmentally responsible manner[16](index=16&type=chunk) - In October 2021, Pactiv Evergreen acquired Fabri-Kal, a manufacturer of thermoformed plastic packaging, to expand its product portfolio and manufacturing capabilities[18](index=18&type=chunk) - The company has divested non-core businesses, including a **50% joint venture** in Naturepak Beverage Packaging Co. Ltd. and carton packaging/filling machinery businesses in China, Korea, and Taiwan, to **focus on core North American operations**[19](index=19&type=chunk) [Customers](index=6&type=section&id=Customers) [Seasonality](index=6&type=section&id=Seasonality) - The business does not experience high seasonality due to complementary seasonal effects across segments[21](index=21&type=chunk) - Foodservice and Food Merchandising: Peak during summer and fall months in North America due to increased consumption from favorable weather, harvest, and holiday seasons (Q2 and Q3)[21](index=21&type=chunk) - Beverage Merchandising: Experiences some seasonality with **increased carton product sales** in Q1 and Q4 due to higher milk consumption by school children during the academic year[21](index=21&type=chunk) [Competition](index=6&type=section&id=Competition) - The markets are **highly competitive**, with competition based on service, innovation, quality, sustainability, and price[22](index=22&type=chunk) - Competitors include Dart Container Corporation, Huhtamäki Oyj, Berry Global Group, Inc., Genpak, Sonoco, Paper Excellence Group, Stora Enso Oyj, Tekni-Plex, Sealed Air Corporation, Silgan Holdings, SIG Combibloc, and Elopak[22](index=22&type=chunk) [Distribution and Marketing](index=6&type=section&id=Distribution%20and%20Marketing) - The company leverages a large, well-invested manufacturing base and a hub-and-spoke distribution network primarily in the United States, providing a **competitive advantage**[23](index=23&type=chunk) - Manufacturing flexibility is a priority, with **approximately 1,100 production lines** manufacturing about **129 billion units annually**, allowing for **scalable production** and **adaptation to market needs**[24](index=24&type=chunk) - Foodservice: **22 manufacturing plants**, sharing **32 warehouses** and **8 regional mixing centers** with Food Merchandising[25](index=25&type=chunk) - Food Merchandising: **24 manufacturing plants**, sharing **32 warehouses** and **8 regional mixing centers** with Foodservice[25](index=25&type=chunk) - Beverage Merchandising: **6 U.S. beverage carton manufacturing plants**, **7 international plants**, **2 filling machinery plants**, **3 extrusion plants**, **2 integrated liquid packaging board and paper mills**, and **3 chip mills**[25](index=25&type=chunk) [Raw Materials](index=7&type=section&id=Raw%20Materials) - Primary raw materials include plastic resins, fiber (raw wood, wood chips, recycled newsprint), paperboard (cartonboard, cupstock), and aluminum, along with commodity chemicals, steel, and energy[26](index=26&type=chunk) - Raw material prices, especially resin, **fluctuate based on** supply, demand, crude oil, and monomer prices, and are influenced by external conditions like weather, scarcity, and governmental policies[27](index=27&type=chunk) - The company **mitigates increased commodity costs** through higher product pricing (often with a **3-4 month** lead-lag effect), manufacturing/overhead cost control, and hedging arrangements, though **not fully**[28](index=28&type=chunk) [Intellectual Property and Research and Development](index=7&type=section&id=Intellectual%20Property%20and%20Research%20and%20Development) - Innovation is a **core capability**, with over **400 patents** related to product design, utility, and material formulations[30](index=30&type=chunk)[31](index=31&type=chunk) - Primary innovation areas include packaging with new features, improved material performance, and environmentally-friendly packaging, driven by **evolving consumer preferences** and customer requirements[32](index=32&type=chunk) Research and Development Expenses | Year | R&D Expenses (Millions USD) | | :--- | :--- | | 2021 | $22 | | 2020 | $20 | | 2019 | $22 | [Regulation](index=8&type=section&id=Regulation) - The business is subject to regulations governing food-contact products, environmental, health, and safety laws, and permits in all operating countries[36](index=36&type=chunk)[37](index=37&type=chunk) - Governmental authorities are considering legislation to reduce plastic waste, including product bans, recycling mandates, fees/taxes on packaging, and take-back requirements, which could **increase compliance costs**[38](index=38&type=chunk) - **Increased legislation** and regulation related to environmental issues like climate change and greenhouse gas emissions could lead to **additional direct and indirect compliance costs**[39](index=39&type=chunk) [Environmental, Social and Governance](index=9&type=section&id=Environmental,%20Social%20and%20Governance) [Sustainable Products](index=9&type=section&id=Sustainable%20Products) - The company offers sustainable products made from plant-based bio-resin and fiber-based materials, with its EarthChoice brand being a **major sustainable foodservice packaging brand** in North America[43](index=43&type=chunk) - In fiscal year 2021, **approximately 64%** of net revenue came from products made from recycled, recyclable, or renewable materials, with a **goal to reach 100% by 2030**[44](index=44&type=chunk) - Pactiv Evergreen is a founding **member** of several recycling and composting initiatives, including the Carton Council and the Foam Recycling Coalition, **demonstrating commitment** to expanding recycling opportunities[46](index=46&type=chunk) [Sustainable Operations](index=9&type=section&id=Sustainable%20Operations) - The company is working to **limit its environmental impact** by reducing greenhouse gas emissions, energy consumption, water use, and waste to landfills[47](index=47&type=chunk) - Combined Scope 1 and 2 greenhouse gas emissions **decreased by 3%** between 2015 and 2020, and **approximately half** of annual energy consumption comes from renewable sources[47](index=47&type=chunk)[48](index=48&type=chunk) - Efforts include reusing plastic and paper scrap in manufacturing and ensuring paper and paperboard are sourced from **certified sustainable forests**[50](index=50&type=chunk)[51](index=51&type=chunk) [Social and Human Capital Resources](index=10&type=section&id=Social%20and%20Human%20Capital%20Resources) - As of December 31, 2021, the company employed **approximately 16,200 people** globally, with **31%** represented by labor unions or workers' councils[54](index=54&type=chunk) - Safety is a **core value**, with manufacturing facilities achieving safety metrics **approximately 2.5 times better** than the industry average in 2021[55](index=55&type=chunk) [Corporate Culture](index=10&type=section&id=Corporate%20Culture) [Diversity, Inclusion and Talent Development](index=10&type=section&id=Diversity,%20Inclusion%20and%20Talent%20Development) - The company focuses on **attracting and retaining a diverse workforce**; as of December 31, 2021, **nearly 50%** of U.S.-based employees were Black, Indigenous, or People of Color, including **19%** in senior/mid-level leadership[57](index=57&type=chunk) - Talent development programs, such as

3Q21 Investor Presentation Results Through September 30, 2021 November 4, 2021 2 Disclaimer Forward-Looking Statements and Other Information This presentation contains forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future results of operations or financial condition, business strategy and plans and objectives of ...

Pactiv Evergreen Inc. (NASDAQ:PTVE) Q3 2021 Earnings Conference Call November 4, 2021 8:00 AM ET Company Participants Dhaval Patel - SVP of IR and Strategy Michael King - CEO Michael Ragen - CFO Conference Call Participants Ghansham Panjabi - Baird Chris Parkinson - Mizuho George Staphos - Bank of America Adam Samuelson - Goldman Sachs Mark Wilde - BMO Arun Viswanathan - RBC Capital Markets Kyle White - Deutsche Bank Andy Scheffer - Onex Credit Disclaimer*: This transcript is designed to be used alongside t ...

Acquisition and Investments - The company completed the acquisition of Fabri-Kal for a preliminary purchase price of $377 million, expected to broaden its portfolio of sustainable packaging products and expand manufacturing capacity [148]. - Anticipated capital expenditures for fiscal year 2021 are approximately $282 million [224]. Financial Performance - Adjusted EBITDA from continuing operations for Q3 2021 was $119 million, down 31% from $173 million in Q3 2020 [164]. - Net revenues for the three months ended September 30, 2021 increased by $199 million, or 17%, to $1,394 million compared to the same period in 2020 [173]. - Adjusted EBITDA from continuing operations decreased by $54 million, or 31%, to $119 million, attributed to higher manufacturing and logistics costs [183]. - Adjusted EBITDA from continuing operations for the nine months ended September 30, 2021 decreased by $119 million, or 27%, to $326 million compared to the same period in 2020 [205]. Segment Performance - Net revenues for the Foodservice segment increased by 26% to $594 million in Q3 2021, compared to $473 million in Q3 2020 [170]. - The Food Merchandising segment's net revenues rose by 10% to $391 million in Q3 2021, up from $354 million in Q3 2020 [170]. - The Beverage Merchandising segment reported a 12% increase in net revenues to $403 million in Q3 2021, compared to $361 million in Q3 2020 [170]. - Total segment net revenues for the Foodservice segment increased by $268 million, or 20%, to $1,619 million for the nine months ended September 30, 2021 compared to the same period in 2020 [207]. - Total segment net revenues for the Food Merchandising segment increased by $75 million, or 7%, to $1,121 million for the nine months ended September 30, 2021 compared to the same period in 2020 [209]. - Total segment net revenues for the Beverage Merchandising segment increased by $41 million to $1,147 million for the nine months ended September 30, 2021 compared to the same period in 2020 [211]. Costs and Expenses - Cost of sales for the same period increased by $280 million, or 28%, to $1,291 million, primarily due to higher material and manufacturing costs [174]. - Cost of sales for the nine months ended September 30, 2021 increased by $567 million, or 19%, to $3,549 million compared to the same period in 2020 [195]. - Selling, general and administrative expenses decreased by $12 million, or 10%, to $104 million, mainly due to lower strategic review and transaction-related costs [175]. Non-Operating Income and Expenses - Non-operating income increased by $23 million to $40 million, primarily due to a pension settlement gain [179]. - Non-operating income, net, for the nine months ended September 30, 2021 increased by $38 million, or 76%, to $88 million compared to the same period in 2020 [201]. - Interest expense decreased by $30 million, or 34%, to $57 million, due to reduced principal amounts outstanding [180]. - Interest expense, net, for the nine months ended September 30, 2021 decreased by $134 million, or 49%, to $141 million compared to the same period in 2020 [202]. Cash Flow and Financing - Cash provided by operating activities decreased by $80 million to $190 million for the nine months ended September 30, 2021 compared to $270 million for the same period in 2020 [215]. - Cash used in investing activities decreased by $119 million to $201 million for the nine months ended September 30, 2021 compared to $320 million for the same period in 2020 [216]. - Net cash provided by financing activities decreased by $363 million to $173 million for the nine months ended September 30, 2021, compared to $536 million for the same period in 2020 [218]. - Cash dividends paid amounted to $53 million during the nine months ended September 30, 2021, with no dividends paid in the same period of 2020 [219]. - Total principal amount of borrowings as of September 30, 2021, was $4,277 million [221]. - The company incurred $1,505 million of debt during the nine months ended September 30, 2021, net of repayments [218]. - Projected annual cash interest obligations on borrowings for 2021 are expected to be approximately $165 million [223]. Market and Economic Conditions - The company expects continued improvement in business performance for the remainder of 2021 as economies recover from the COVID-19 pandemic [158]. - The company has not experienced significant supply chain issues due to the COVID-19 pandemic, maintaining material sourcing and logistics [157]. Impact of Natural Events - The Beverage Merchandising segment incurred $7 million in incremental costs due to damage from Tropical Storm Fred, affecting operations at the Canton, North Carolina paper mill [149]. - Incremental costs of approximately $50 million were incurred during the first half of 2021 due to Winter Storm Uri, with the Beverage Merchandising segment facing the highest impact [154]. Taxation - The effective tax rate for the three months ended September 30, 2021 was influenced by a $9 million discrete tax benefit from the partial release of the valuation allowance for deferred interest deductions [181]. Interest Rate Sensitivity - A 100 basis point increase in interest rates would result in an $18 million increase in interest expense on term loans [232].

Pactiv Evergreen Inc. (NASDAQ:PTVE) Q2 2021 Earnings Conference Call August 5, 2021 8:30 AM ET Company Participants Dhaval Patel - SVP of IR and Strategy Michael King - CEO Michael Ragen - COO and CFO Conference Call Participants Ghansham Panjabi - Baird Kyle White - Deutsche Bank Anojja Shah - BMO Capital Markets Asher Sohnen - Citi Sam McGovern - Credit Suisse Arun Viswanathan - RBC Capital Markets Andy Scheffer - Onex Credit Operator Good morning, and welcome to Pactiv Evergreen's Second Quarter 2021 Ear ...

2Q21 Investor Presentation Results Through June 30, 2021 August 5, 2021 2 Disclaimer Forward-Looking Statements and Other Information This presentation contains forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future results of operations or financial condition, business strategy and plans and objectives of manage ...

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 June 30, 2021 ☐ 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: 001-39528 PACTIV EVERGREEN INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organizati ...

Pactiv Evergreen Inc. (NASDAQ:PTVE) Q1 2021 Earnings Conference Call May 6, 2021 8:30 AM ET Company Participants Dhaval Patel - Senior Vice President of IR and Strategy Michael King - Chief Executive Officer Michael Ragen - Chief Operating Officer and Chief Financial Officer Conference Call Participants Anthony Pettinari - Citi Ghansham Panjabi - Baird Arun Viswanathan - RBC George Staphos - Bank of America Kyle White - Deutsche Bank Sam McGovern - Crédit Suisse Mark Wilde - BMO Scott Schwartz - HPS Partner ...

pactiv 를 evergreen 1Q21 Investor Presentation Results through March 31, 2021 May 6, 2021 Disclaimer Forward-Looking Statements and Other Information This presentation contains forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future results of operations or financial condition, business strategy and plans and objec ...

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 March 31, 2021 ☐ 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: 001-39528 PACTIV EVERGREEN INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organizat ...