Stock Story -
Plastic packaging and engineered materials manufacturer Berry Global Group (NYSE:BERY) will be reporting earnings tomorrow morning. Here's what investors should know.
Berry Global Group missed analysts' revenue expectations by 2.1% last quarter, reporting revenues of $3.08 billion, down 6.4% year on year. It was a weak quarter for the company, with a miss of analysts' organic revenue estimates.
Is Berry Global Group a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Berry Global Group's revenue to be flat year on year at $3.26 billion, improving from the 13.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.07 per share.
The majority of analysts covering the company have 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 Q2 results, giving us a hint as to what we can expect. Avery Dennison (NYSE:AVY) delivered year-on-year revenue growth of 6.9%, beating analysts' expectations by 1.9%, and Packaging Corporation of America reported revenues up 6.3%, topping estimates by 2.5%. Avery Dennison traded down 4.3% following the results while Packaging Corporation of America's stock price was unchanged.
Read the full analysis of Avery Dennison's and Packaging Corporation of America's results on StockStory.
There has been positive sentiment among investors in the industrial packaging segment, with share prices up 10% on average over the last month. Berry Global Group is up 11.2% during the same time and is heading into earnings with an average analyst price target of $71.6 (compared to the current share price of $65.72).
![What To Expect From Berry Global Group's (BERY) Q2 Earnings](https://d68-invdn-com.investing.com/content/pic2db3e6975ed87bbd12bb531acbf7a76d.jpeg)