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 its third fiscal quarter 2022 results, achieving net sales of $3.7 billion, up 6% year-over-year. Operating income was $336 million, with adjusted earnings per share (EPS) at $2.03, a 10% increase. Share repurchases totaled $637 million year-to-date, reducing total shares outstanding by 8%. The company expects adjusted EPS of $7.40 for fiscal 2022 and free cash flow of $750 million. CEO Tom Salmon emphasized resilience in demand and commitment to managing costs amid inflationary pressures.
Berry Global Group, Inc. (NYSE: BERY) is set to report its third fiscal quarter 2022 results on August 3, 2022, before the markets open. A conference call will take place at 10 a.m. Eastern Time to discuss the results, accessible via phone at (800) 715-9871 in the U.S. and (646) 307-1963 internationally. A live webcast will also be available on www.berryglobal.com. A replay of the call will be accessible from 1 p.m. Eastern Time on August 3 to August 17, 2022.
Berry Global Group, Inc. (NYSE: BERY) has partnered with Tchibo and Neste to launch a sustainable coffee capsule made from renewable materials. The new Qbo capsules, which comprise 70% renewable polypropylene, aim to significantly reduce CO2 emissions, demonstrating a 35% decrease according to a life cycle assessment from the Technical University of Berlin. This initiative aligns with Berry's goal of achieving 30% circular plastics use in consumer goods packaging by 2030, reinforcing their commitment to sustainability and innovation in the market.
Berry Global partners with McCormick to enhance sustainability efforts by introducing new food color bottles made from 100% post-consumer recycled plastic. This collaboration aims to meet McCormick's packaging goals by 2025, minimizing carbon footprint and achieving a projected 59% reduction in CO2 emissions. The initiative is expected to prevent 86.8 metric tons of CO2 emissions, equating to the annual emissions of nearly 19 gasoline-powered cars. Berry's commitment includes acquiring over 600 million pounds of recycled plastic by 2025 to support their clients' sustainability targets.
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.
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