Berry Global Group, Inc. - BERY STOCK NEWS

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.

Berry Global Group, Inc. (NYSE: BERY) will report its fourth quarter and fiscal year 2021 results on November 18, 2021, before trading starts. A conference call discussing the results will be held at 10 a.m. Eastern Time on the same day. Investors can access the call through a domestic number at (866) 244-4530 or international at (209) 313-0728, using conference ID 8289932. A taped replay will be available from 1 p.m. Eastern Time on November 18 to December 2. For more details, visit www.berryglobal.com.

Berry Global Group (NYSE: BERY) has announced that three of its North American sites have achieved the ISCC PLUS certification, validating their production of sustainable packaging. This certification responds to rising customer demand for recycled and renewable material in packaging. The certified facilities in Evansville, Nashville, and Odon will provide products that adhere to high environmental standards, allowing Berry to offer circular products and help customers meet sustainability objectives. Berry now operates a total of 39 ISCC PLUS certified facilities globally.

Berry Global Group, Inc. (NYSE: BERY) announced that its Chairman and CEO, Tom Salmon, has been appointed as an Officer of the Alliance to End Plastic Waste. As a founding member, Berry Global aims to tackle plastic waste through collaboration with over 80 member companies. Salmon emphasized the importance of partnerships and the need for sustainable, circular solutions in the plastics value chain. The Alliance focuses on advancing a circular economy by enhancing infrastructure, innovation, education, and cleanup initiatives to combat plastic waste effectively.

Berry Global Group (NYSE: BERY) announced an exchange offer for up to $800 million of 0.95% First Priority Senior Secured Notes due 2024, $1.525 billion of 1.57% notes due 2026, and $400 million of 1.65% notes due 2027. This move allows holders of the existing unregistered notes to exchange them for new registered ones with better transferability. The offer runs until October 19, 2021. U.S. Bank National Association serves as the exchange agent, with details available in the prospectus dated September 20, 2021.

Berry Global Group (NYSE: BERY) plans to invest over $110 million to expand its foodservice packaging operations in North America. This move will enhance its polypropylene thermoforming capabilities to produce clear cups and lids for quick-service restaurants, aligning with sustainability trends. The expansion is expected to generate 200 new jobs and support increased recycling efforts for polypropylene, a more environmentally friendly packaging option. The company anticipates a 60% increase in sales, driven by custom solutions for brand owners.

Berry Global Group, Inc. (NYSE: BERY) has joined the Recycling Partnership’s Polypropylene Recycling Coalition to improve recycling access for polypropylene. The coalition has allocated $4.2 million in grants to enhance recycling facilities impacting nearly 15 million U.S. residents and aims to increase polypropylene recovery by 13 million pounds annually. Berry's collaboration includes installing advanced robotics in Evansville, Indiana, to better sort polypropylene, contributing to a circular economy and sustainable practices.