Why Berry Global Stock Plunged Today

Shares of Berry Global (BERY -11.78%) fell 11.8% on Wednesday after the plastic packaging solutions company announced weaker-than-expected quarterly results.A "solid" quarter for Berry Global amid macroheadwindsFor its fiscal first quarter ended Dec. 30, 2023, Berry's net sales declined 7% year over year to $2.85 billion, translating to a 6% drop in adjusted (non-GAAP) earnings to$ 1.22 per share. Most analysts were looking for higher earnings of $1.29 per share on revenue closer to$ 2.99 billion.Nonetheles ...