Welcome to our dedicated page for Pactiv Evergreen news (Ticker: PTVE), a resource for investors and traders seeking the latest updates and insights on Pactiv Evergreen stock.
Pactiv Evergreen Inc. (NASDAQ: PTVE) is a prominent player in the manufacturing and distribution of fresh foodservice and food merchandising products, as well as fresh beverage cartons, across North America. With a robust operational framework, the company operates through two primary segments: Foodservice and Food and Beverage Merchandising.
The Foodservice segment is dedicated to producing a wide array of products including food containers, drinkware, tableware, service ware, and ready-to-eat food containers. Meanwhile, the Food and Beverage Merchandising segment focuses on manufacturing clear rigid-display containers, meat and poultry trays, molded fiber egg cartons, printed cartons, as well as spouts and filling machines. This segment drives the majority of the company's revenue.
Pactiv Evergreen's operations are geographically segmented into the United States, the Rest of North America, and other regions, with the bulk of its revenue being generated from the U.S. market. The company's extensive product portfolio, many of which incorporate recycled, recyclable, or renewable materials, caters to a diverse customer base including restaurants, foodservice distributors, retailers, and food and beverage producers.
Recent news highlights the company's collaborative efforts to support the circular economy for plastics. In partnership with industry leaders like ExxonMobil, Pactiv Evergreen aims to address consumer demand for more sustainable and high-performance products within the foodservice industry. Despite macroeconomic challenges, the company has consistently delivered solid financial performance and met or exceeded its guidance.
For more information, visit www.pactivevergreen.com or contact their media representative, Beth Kelly, at beth.kelly@pactivevergreen.com.
Pactiv Evergreen (NASDAQ: PTVE) is set to announce its first quarter 2021 earnings on May 5, 2021, after market close. A teleconference will follow on May 6, 2021, at 8:30 a.m. ET. Key participants include CEO Michael King, CFO/COO Michael Ragen, and SVP of IR & Strategy Dhaval Patel. Investors can access the earnings call via the company’s Investor Relations website or by dialing in. Pactiv Evergreen specializes in manufacturing and distributing foodservice products across North America and select international markets.
Pactiv Evergreen Inc. (NASDAQ: PTVE) announced that John Rooney, President of Beverage Merchandising, will depart at the end of June. CEO Mike King recognized Rooney's 30-year tenure and contributions, expressing gratitude and wishing him well in future endeavors. The company will initiate a search for a new President for this division. Pactiv Evergreen manufactures and distributes foodservice products and beverage cartons across North America and international markets, serving a diverse range of clients including restaurants, supermarkets, and food processors.
Pactiv Evergreen Inc. (NASDAQ: PTVE) has appointed Dhaval Patel as Senior Vice President, Investor Relations and Strategy, effective March 16, 2021. The company emphasizes a commitment to fostering strong shareholder relationships and creating long-term value. Dhaval Patel brings over 20 years of financial experience, notably as Managing Director at TIAA-CREF, where he specialized in packaging, chemicals, and materials. He holds dual Bachelor of Science degrees in Finance and Mathematics and Statistics from Rutgers University.
Pactiv Evergreen Inc. (NASDAQ: PTVE) has announced the retirement of CEO John McGrath, who is succeeded by Michael King, previously CEO of Graham Packaging Company. King, a board member since 2018, has extensive experience in leadership roles at various companies. McGrath expressed gratitude for his time at Pactiv Evergreen, while King aims to enhance value for stakeholders. Chairman Jonathan Rich praised McGrath's contributions, including leading the company’s successful IPO, and affirmed King’s ability to drive growth for the future.
Pactiv Evergreen (NASDAQ: PTVE) will participate in the BofA Securities 2021 Global Agriculture and Materials Conference on March 3-4, 2021. CEO John McGrath and CFO Michael Ragen will present on March 4 at 3:00 p.m. ET. A live webcast will be available on the Company’s investor relations website, with a replay accessible until June 2, 2021. Pactiv Evergreen specializes in foodservice and beverage cartons, serving a diverse clientele in North America and beyond.
Pactiv Evergreen reported its fourth quarter 2020 results on February 24, showing net revenues of $1,175 million, down from $1,303 million the previous year, primarily due to COVID-19. However, net income improved to $18 million from a $140 million loss in Q4 2019. Adjusted EBITDA was $170 million, slightly lower than $173 million year-over-year. The company anticipates a recovery in demand as vaccination efforts progress, despite ongoing impacts from the pandemic and challenges from a recent winter storm. A quarterly dividend of $0.10 was declared and paid to shareholders.
Pactiv Evergreen Inc. (NASDAQ: PTVE) announced a quarterly dividend of $0.10 per share, payable on February 24, 2021, to shareholders of record by February 14, 2021. The company will also report its fourth quarter and full year 2020 financial results on the same date, followed by a conference call the next morning at 8:00 am ET. The results can be accessed via webcast on their Investor Relations page or by phone. Pactiv Evergreen is a leading manufacturer of foodservice products across North America.
Pactiv Evergreen (NASDAQ: PTVE), a leader in fresh foodservice products, announced its participation in the Citi 2020 Basic Materials Virtual Conference on December 1-2, 2020. CEO John McGrath and CFO Michael Ragen will host a fireside chat on December 1 at 2:00 PM ET, available for listening on the company's website. Pactiv Evergreen specializes in manufacturing and distributing fresh foodservice products and beverage cartons for a variety of clients including restaurants, supermarkets, and food processors.
Pactiv Evergreen reported its Q3 2020 results, noting net revenues of $1,195 million, a decrease from $1,306 million YOY, largely due to COVID-19 impacts. The net loss from continuing operations rose to $143 million from $35 million a year earlier, partly due to a $105 million tax valuation allowance. Adjusted EBITDA was $173 million, slightly down from $177 million in Q3 2019. The company anticipates continued challenges due to the pandemic but remains focused on strategic investments for growth. Full-year revenue guidance is between $4,710 million and $4,755 million.
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