BERRY GLOBAL Reports Fourth Quarter Earnings Results for Fiscal Year 2023
November 29, 2023
🌥️Earnings Overview
On September 30 2023, BERRY GLOBAL ($NYSE:BERY) announced their fourth quarter earnings for fiscal year 2023. Total revenue was USD 3087.0 million, a decrease of 9.8% year-over-year. Net income was USD 186.0 million, a decrease of 20.2% compared to the prior year’s fourth quarter.
Stock Price
The company’s stock opened at $61.5 and closed at $63.6, a 3.8% increase from its prior closing price of $61.2. BERRY GLOBAL also highlighted the progress it made expanding its product portfolio, launching several new products in the fourth quarter. The company is focused on providing innovative solutions to meet customer needs, and has made significant strides in developing and launching new products in recent quarters. Overall, BERRY GLOBAL’s earnings results show that the company is on track to meet its financial objectives for the current fiscal year. With a strong portfolio of products, a robust customer base, and a commitment to innovation, BERRY GLOBAL is positioned to continue to deliver strong results in the quarters and years to come. Live Quote…
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 |
| 12.66k | 609 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Berry Global. More…
| Operations | Investing | Financing |
| 1.61k | -776 | -1.07k |
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 |
| 16.59k | 13.37k | 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 |
| 2.6% | -2.1% | 8.3% |
| FCF Margin | ROE | ROA |
| 7.3% | 19.3% | 3.9% |
Analysis
At GoodWhale, we conducted an analysis of BERRY GLOBAL‘s fundamentals. Using our Star Chart, we classified BERRY GLOBAL as a ‘cow’ – a type of company that has the track record of paying out consistent and sustainable dividends. This type of company may be attractive to investors who are looking for a reliable source of dividend income. BERRY GLOBAL scored strong in debt and cashflow, medium in dividend, growth and profitability, and weak in asset. However, our assessment of BERRY GLOBAL’s health score was high at 8/10, suggesting that the company is capable of paying off debt and funding future operations. More…
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
Investing in BERRY GLOBAL is currently a mixed bag. On September 30th 2023, the company reported its fourth quarter results for fiscal year 2023, showing that total revenue had decreased by 9.8% compared to the same quarter of the prior year. Net income for the period was down 20.2%.
Despite these decreases, the stock price moved up on the same day. Investors considering BERRY GLOBAL should take into account potential risks associated with the company’s declining revenue and income, while also considering the stock’s potential to grow.
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