Berry Global: Fiscal Q2 Earnings Snapshot

Associated Press Finance
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EVANSVILLE, Ind. (AP) — EVANSVILLE, Ind. (AP) — Berry Global Group Inc. (BERY) on Thursday reported fiscal second-quarter profit of $174 million.

On a per-share basis, the Evansville, Indiana-based company said it had net income of $1.42. Earnings, adjusted for one-time gains and costs, were $1.96 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.

The packaging company posted revenue of $3.29 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $3.43 billion.

Berry Global expects full-year earnings in the range of $7.30 to $7.80 per share.

Berry Global shares have dropped 11% since the beginning of the year. The stock has fallen slightly more than 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BERY at https://www.zacks.com/ap/BERY

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