Plastic packaging and engineered materials manufacturer Berry Global Group (NYSE: BERY) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
Berry Global Group beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $3.17 billion, up 2.6% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is Berry Global Group a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Berry Global Group’s revenue to decline 17% year on year to $2.37 billion, a further deceleration from the 6.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.99 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Berry Global Group’s peers in the industrial packaging segment, some have already reported their Q4 results, giving us a hint as to what we can expect. International Paper posted flat year-on-year revenue, missing analysts’ expectations by 3.8%, and Packaging Corporation of America reported revenues up 10.7%, topping estimates by 0.6%. International Paper traded down 4.2% following the results while Packaging Corporation of America was also down 9.8%.
Read our full analysis of International Paper’s results here and Packaging Corporation of America’s results here.
Investors in the industrial packaging segment have had steady hands going into earnings, with share prices flat over the last month. Berry Global Group is up 1.7% during the same time and is heading into earnings with an average analyst price target of $74.07 (compared to the current share price of $66.28).
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