Welcome to our dedicated page for Berry Global Group news (Ticker: BERY), a resource for investors and traders seeking the latest updates and insights on Berry Global Group stock.
Berry Global Group, Inc. (NYSE: BERY) is a leading global manufacturer of plastic packaging products and protection materials. Serving a diverse range of markets, including food, beverage, personal care, household chemicals, healthcare, and industrial, Berry Global caters to over 15,000 customers, including some of the world’s largest consumer packaged goods (CPG) manufacturers. The company's strategic international expansion aims to fulfill the growing global market demands.
The company operates through four primary business segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene, and Specialties. Berry Global primarily utilizes plastic resin as its raw material, sourced from various suppliers.
The acquisition of RPC has bolstered the Consumer Packaging International segment, expanding Berry’s geographical footprint and boosting its revenue. This segment includes products such as closures, dispensing systems, pharmaceutical devices, packaging, bottles, canisters, polythene films, recycling, containers, and technical components.
Berry Global's impressive growth is underscored by its extensive network of 119 global manufacturing locations across 17 countries and a workforce of over 21,000 employees. The company's history of strategic acquisitions has significantly bolstered its market presence and technological capabilities.
In recent developments, Berry Global acquired F&S Tool, a North American leader in precision injection molding tools. This move aims to strengthen Berry's global tooling capabilities, bringing in proprietary technologies and manufacturing excellence.
Berry Global continues to innovate and expand, focusing on sustainable growth and maintaining a leading position in the plastic packaging industry. Stay updated with the latest news and developments about Berry Global Group, Inc. to understand its market performance and strategic initiatives.
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.
Berry Global Group, Inc. (NYSE: BERY) will report its first fiscal quarter 2022 results on February 3, 2022, before trading begins on the NYSE. A conference call will take place at 10 a.m. Eastern Time to discuss the Company’s performance, with access numbers provided for both domestic and international participants. A recorded replay will be available starting at 1 p.m. Eastern Time on the same day until February 17, 2022.
Berry focuses on innovative packaging and products, leveraging sustainability and a diverse workforce of 47,000 employees.
The National Lubricant Container Recycling Coalition (NLCRC) has welcomed Berry Global as a new principal member. This coalition aims to tackle the challenges of recycling plastic lubricant containers through industry-wide collaboration. Berry Global, a major manufacturer in the plastic packaging sector, joins prominent companies like Castrol and Valvoline in this initiative. Their participation aligns with their sustainability goals, showing a commitment to enhancing recyclability in the packaging industry. The coalition seeks to develop effective solutions for post-consumer recovery and recycling.
Berry Global Group, Inc. (NYSE: BERY) addressed a letter from Ancora Holdings Group LLC, affirming its commitment to shareholder engagement and long-term growth. The company emphasizes its strategic portfolio management and capital allocation strategies, which have led to consistent organic growth despite challenges posed by COVID, inflation, and supply chain issues. Berry reports steady cash flow, enabling share repurchases and investments. The management remains open to ideas that enhance shareholder value, while also acknowledging the forward-looking risks that could impact future performance.
Ancora Holdings Group LLC urges Berry Global Group (NYSE: BERY) to conduct a comprehensive review of strategic alternatives due to prolonged share price underperformance. Despite a 113.4% revenue increase and a 134.3% rise in earnings per share since CEO Tom Salmon's tenure began, BERY's share price has only risen by 29.7%. Ancora suggests exploring a $1 billion share repurchase program and a sale-leaseback transaction, estimating potential company sale value over $100 per share. Ancora emphasizes the need for the Board to prioritize shareholder returns and address significant valuation discounts.
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