Berry Global reports 6% sales decline in Q2 FY24 [Yahoo! Finance]
Berry Global Group, Inc. (BERY)
Last berry global group, inc. earnings: 5/1 07:30 am
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Source: Yahoo! Finance
The company attributed the downturn to a 5% negative impact from the pass-through of lower resin prices and a 2% decline in volumes. The company's operating income for the quarter also saw a decrease, falling to $208m from $301m year-on-year. The reduction was largely due to goodwill write-offs in the company's consumer packaging international segment, an unfavourable volume impact, and a negative price-cost spread from the timing of resin cost pass-throughs. Berry's earnings per share (EPS) for Q2 FY24 decreased to $0.98, from $1.42 in the prior year. Internationally, the company's consumer packaging division experienced a 9% drop in net sales to $968m while its operating income plummeted to $3m. In North America, its consumer packaging net sales decreased by 3% to $751m, driven by a 3% volume decline, and operating income decreased to $77m. In the year-to-date, Berry's net sales decreased to $5.92bn from $6.34bn a year ago, with EPS falling to $1.48 from $2.27 in FY23.
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BERY
Earnings
- 5/9/24 - Beat
BERY
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 144
- 5/14/24 - Form 144
- BERY's page on the SEC website