Berry Global (BERY) Q4 Earnings Top Estimates, Revenues Miss
Zacks Investment Research | Nov 22, 2019 07:54AM ET
Berry Global Group, Inc. (NYSE:BERY) reported mixed results for fourth-quarter fiscal 2019 (ended Sep 28, 2019), wherein its earnings surpassed the Zacks Consensus Estimate but revenues lagged the same.
In the fiscal fourth quarter, the company’s adjusted earnings of 90 cents per share were flat on a year-over-year basis. Notably, the bottom line beat the Zacks Consensus Estimate of 74 cents by 21.6%.
For fiscal 2019, the company’s adjusted earnings came in at $3.41 per share, up 1.2% year over year.
Segmental Performance
Berry Global’s net sales were $3,019 million, reflecting year-over-year increase of about 47%. The improvement was driven by gain from acquired assets, partially offset by decline in selling prices and lower base volumes of 2%. Notably, the top line lagged the Zacks Consensus Estimate of $3,128 million by 3.5%.
For fiscal 2019, the top line came in at $8,878 million, up 12.8% year over year.
Berry Global Group, Inc. Price, Consensus and EPS Surprise
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