Berry (US:BERY) ZACKSยท2024-11-19 13:45Core Viewpoint - Berry Global reported quarterly earnings of $2.27 per share, exceeding the Zacks Consensus Estimate of $2.25 per share, but slightly down from $2.28 per share a year ago, indicating a 0.89% earnings surprise [1] - The company generated revenues of $3.17 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.56% and showing an increase from $3.09 billion year-over-year [2] Earnings Performance - Berry Global has surpassed consensus EPS estimates three times over the last four quarters [2] - The company had a previous quarter earnings expectation of $2.03 per share but reported $2.18, resulting in a surprise of 7.39% [1] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [3] - Current consensus EPS estimate for the upcoming quarter is $1.39 on revenues of $2.91 billion, and for the current fiscal year, it is $8.17 on revenues of $12.43 billion [8] Industry Context - The Containers - Paper and Packaging industry, to which Berry Global belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, which may impact stock performance [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [6]