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) 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.
Berry Global Group, Inc. (NYSE: BERY) announces a
Berry Global Group reported strong fourth quarter results with net sales of $13.9 billion, a 22% increase year-over-year. Fiscal year net income per share rose 28% to $5.30, while adjusted EPS increased 20% to $5.80. Despite facing challenges from inflation and supply chain issues, the company achieved 4% organic volume growth. For fiscal year 2022, Berry expects 2% organic volume growth and adjusted EPS between $7.20 and $7.70. Cash flow from operations is projected at $1.7-$1.8 billion, aiming for free cash flow of $900 million to $1 billion.
Berry Global Group, Inc. (NYSE: BERY) has set a new sustainability target to use 30% circular plastics in its fast-moving consumer goods packaging by 2030, up from a previous goal of 10% post-consumer recycled resin by 2025. This initiative aims to reduce reliance on virgin plastics and fossil fuels, enhancing the company's environmental commitment. Berry plans to achieve this through innovative materials, agile manufacturing capabilities, and collaborations with global firms. The company also aims to improve recycling infrastructure to achieve its ambitious goals and contribute to a circular economy.