BERRY GLOBAL Experiences 13.3% Revenue Decrease in Third Quarter of FY 2023
August 14, 2023
🌥️Earnings Overview
BERRY GLOBAL ($NYSE:BERY) reported total revenue of USD 3229.0 million for the third quarter of the fiscal year ending June 30, 2023, representing a 13.3% decrease from the same period in the prior year. Net income for this quarter dropped 30.9%, coming in at USD 143.0 million. The results were announced on August 9, 2023.
Analysis
GoodWhale has conducted an analysis of BERRY GLOBAL‘s fundamentals, which reveals that the company is strong in Star Chart, medium in dividend, growth, profitability and weak in asset. This makes BERRY GLOBAL an attractive investment for investors looking for a steady cashflow. In addition, BERRY GLOBAL has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to safely ride out any crisis without the risk of bankruptcy. For these reasons, BERRY GLOBAL is an attractive option for investors seeking a low-risk, dividend-paying investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Berry Global. More…
| Total Revenues | Net Income | Net Margin |
| 13k | 656 | 5.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Berry Global. More…
| Operations | Investing | Financing |
| 1.71k | -706 | -911 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Berry Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.55k | 13.16k | 28.68 |
Key Ratios Snapshot
Some of the financial key ratios for Berry Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.5% | 2.2% | 8.4% |
| FCF Margin | ROE | ROA |
| 7.8% | 20.4% | 4.1% |
Peers
Berry Global Group Inc is one of the world’s largest plastic packaging providers and competes with leading international companies such as Huhtamäki Oyj, Southern Packaging Group Ltd, and Xiamen Jihong Technology Co Ltd. These companies produce a range of plastic packaging solutions for various markets around the world, offering a variety of products, services, and technologies.
– Huhtamäki Oyj ($LTS:0K9W)
Huhtamäki Oyj is a Finnish manufacturer of packaging solutions and services. It is a global leader in packaging, with operations in 35 countries and sales in more than 70 countries. With a market cap of 3.51B in 2022, the company is well-positioned to capitalize on the increasing demand for sustainable and innovative packaging solutions. Furthermore, Huhtamäki Oyj has an impressive Return on Equity of 14.22%, illustrating the company’s strong financial performance and returns for shareholders.
– Southern Packaging Group Ltd ($SGX:BQP)
Southern Packaging Group Ltd is a leading packaging solutions provider based in the United Kingdom. The company specializes in providing innovative and cost-effective packaging solutions to a wide range of industries, including food, beverage, pharmaceutical and medical device manufacturing. As of 2022, Southern Packaging Group Ltd has a market cap of 29.89M and a Return on Equity of 1.31%. The company’s market cap reflects its strong position in the industry and its ability to provide high quality, competitively priced products and services. Its return on equity indicates the company’s success in generating profits from its investments.
– Xiamen Jihong Technology Co Ltd ($SZSE:002803)
Xiamen Jihong Technology Co Ltd is a leading Chinese technology company that specializes in the development and sale of smart home, communications, and network products. With a market cap of 5.72B as of 2022, the company has exhibited strong financial performance and has become one of the largest firms in the technology sector. Xiamen Jihong Technology Co Ltd also boasts an impressive Return on Equity of 6.53%, indicating that the company is successfully generating profits for its investors. The company’s success is driven by its commitment to developing innovative products and services that solve customers’ needs.
Summary
BERRY GLOBAL’s third quarter of fiscal year 2023 ending June 30, 2023 saw a decrease in both total revenue and net income. Revenue was USD 3229.0 million, down 13.3% from last year, and net income was USD 143.0 million, a decrease of 30.9%. This indicates that BERRY GLOBAL is facing declining sales and profits, and investors should take note before making an investment decision. Further research is needed to understand the cause of the decline and determine if investing in the company is worthwhile.
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