Berry Global Group, Inc. - BERY STOCK NEWS

Berry Global Group, Inc. (NYSE:BERY) has exceeded its initial target by achieving an 8% reduction in Scope 3 greenhouse gas emissions ahead of schedule. The company now aims for a 25% reduction by 2025, based on 2019 levels. This new target is validated by the Science Based Targets initiative and aligns with Berry's existing Scope 1 and 2 commitments. Berry also plans to achieve 100% reusable, recyclable, or compostable packaging by 2025 and 30% circular plastic use by 2030. These efforts underscore Berry’s commitment to sustainability and supporting its customers’ climate goals.

Berry Global Group (NYSE:BERY) reported a strong second fiscal quarter with net sales of $3.8 billion, a 12% increase year-over-year. Operating income reached $341 million, while diluted EPS stood at $1.50. Despite high inflation impacting costs, the company showed 21% growth in adjusted earnings per share over two years. Berry plans $350 million in share repurchases and reaffirms its guidance for fiscal 2022 adjusted EPS of $7.20 to $7.70. The outlook remains positive with expectations for improved volumes and continued focus on sustainable packaging solutions.

Berry Global Group (NYSE: BERY) has partnered with Taco Bell to launch a new clear, all-plastic cup made from mechanically recycled post-consumer resin (PCR). This sustainable packaging initiative aims to meet both companies' sustainability commitments. The new 30-ounce cup, which includes 10% recycled high-density polyethylene (HDPE), will be trialed in select U.S. Taco Bell locations in late 2022. This move is expected to reduce landfill waste and improve the carbon footprint of Taco Bell's products, supporting a transition toward a circular economy.

Berry Global Group, Inc. (NYSE: BERY) is set to announce its second fiscal quarter 2022 results on May 5, 2022, before market open. The company will hold a quarterly conference call at 10 a.m. Eastern Time on the same day to discuss performance. Investors can access the call via phone at (866) 244-4530 (domestic) or (209) 313-0728 (international) with the conference ID 8094145. Additionally, a live webcast and a supplemental presentation will be available on Berry's investor relations website. A replay of the call will be accessible starting at 1 p.m. Eastern Time on the same day until May 19, 2022.

Berry Global Group, Inc. (NYSE:BERY) reported first fiscal quarter 2022 results with net sales of $3.6 billion, reflecting a 14% increase year-over-year. Operating income stood at $229 million, while diluted net income per share reached $0.87, or $1.25 adjusted. The company announced a new $1 billion share repurchase program and reaffirmed adjusted EPS guidance of $7.20 to $7.70 for FY 2022. Despite challenges from supply chain disruptions and inflation, Berry expects 2% organic volume growth and aims to improve cash flow and operations.

Berry Global Group, Inc. (NYSE:BERY) has authorized a new share repurchase program, allowing for the repurchase of up to $1 billion of its outstanding shares. The company plans to repurchase at least $350 million in fiscal year 2022, including $50 million already completed in Q1. This initiative reflects Berry's strong cash flow and commitment to returning capital to shareholders. The timing and amount of repurchases will depend on market conditions. This program supersedes the previous one, enhancing shareholder value.

Berry Global Group (NYSE: BERY) and TotalEnergies have partnered to supply certified circular polymers from advanced recycling, aiming to enhance sustainability in food packaging. This collaboration focuses on using recycled plastics that are difficult to process traditionally, thereby diverting waste from landfills. TotalEnergies will produce feedstock from hard-to-recycle plastics at its new plant in France, starting in 2023. This initiative aligns with TotalEnergies' goal to achieve 30% recycled and renewable polymers by 2030, showcasing both companies' commitment to circularity and sustainability.