EVANSVILLE, Ind. - Berry Global Group, Inc. (NYSE:BERY) saw its stock gain 4% in premarket trading Tuesday after the packaging solutions provider reported better-than-expected fourth quarter results and issued upbeat guidance for fiscal 2025.
The company posted adjusted earnings per share of $2.27 for Q4, handily beating the analyst consensus estimate of $2.06. Revenue came in at $3.17 billion, topping expectations of $3.13 billion and rising 2.6% YoY.
Berry Global's CEO Kevin Kwilinski said the company ended fiscal 2024 "on a strong note," achieving 2% organic volume growth in its underlying businesses, excluding the recently spun-off Health, Hygiene and Specialties division.
For fiscal 2025, Berry Global forecasts adjusted EPS in the range of $6.10 to $6.60. While this guidance falls short of the $7.59 consensus estimate, investors appeared encouraged by the company's outlook for continued low-single digit volume growth and strong free cash flow generation.
"We are confident in the strength and resilience of our portfolio," Kwilinski stated, noting the company's board approved a nearly 13% dividend increase following last year's 10% hike.
Berry Global also announced it has entered into a definitive merger agreement to combine with Amcor (NYSE:AMCR) Plc in an all-stock transaction, which will be detailed in a separate release.
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