Berry (US:BERY) ZACKS·2024-08-02 13:17Core Insights - Berry Global reported quarterly earnings of $2.18 per share, exceeding the Zacks Consensus Estimate of $2.03 per share, and up from $1.90 per share a year ago, representing an earnings surprise of 7.39% [1] - The company posted revenues of $3.16 billion for the quarter ended June 2024, which fell short of the Zacks Consensus Estimate by 1.44% and decreased from $3.23 billion year-over-year [2] - Berry Global has surpassed consensus EPS estimates three times over the last four quarters but has not beaten revenue estimates during the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.25 on revenues of $3.15 billion, while for the current fiscal year, the estimate is $7.44 on revenues of $12.28 billion [7] - The trend of estimate revisions for Berry Global is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Containers - Paper and Packaging industry, to which Berry Global belongs, is currently ranked in the top 17% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Another competitor in the same industry, Amcor, is expected to report quarterly earnings of $0.21 per share, reflecting a year-over-year increase of 10.5%, with revenues projected at $3.66 billion, down 0.3% from the previous year [9]