Pactiv Evergreen Inc. (PTVE) Q3 Earnings Surpass Estimates

Group 1: Earnings Performance - Pactiv Evergreen Inc. reported quarterly earnings of $0.36 per share, exceeding the Zacks Consensus Estimate of$ 0.33 per share, and up from $0.32 per share a year ago, representing an earnings surprise of 9.09% [1] - The company posted revenues of$ 1.33 billion for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 0.43%, and compared to year-ago revenues of $1.38 billion [2] - Over the last four quarters, Pactiv Evergreen has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Pactiv Evergreen shares have declined approximately 12.5% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is$ 0.36 on revenues of $1.23 billion, and for the current fiscal year, it is$ 1.06 on revenues of $5.16 billion [7] Group 3: Industry Context - The Containers - Paper and Packaging industry, to which Pactiv Evergreen belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The current estimate revisions trend for Pactiv Evergreen is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]