Berry Global Group (BERY) Tops Q4 EPS by 37c

Berry Global Group (NYSE: BERY) reported Q4 EPS of $1.59, $0.37 better than the analyst estimate of $1.22. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.97 billion.

Fiscal 2021 Guidance:

We anticipate our fiscal year 2021 operating EBITDA to be in the range of $2.15 to $2.2 billion and free cash flow range of $875 to $975 million. The range of free cash flow includes $1.525 to $1.625 billion of cash flow from operations, partially offset by capital expenditures of $650 million. The capital expenditure plan is a nearly $70 million increase from our fiscal 2020 spending as our pipeline of customer linked growth projects continue to increase. Excluding incremental growth capital, our fiscal year 2021 free cash flow is expected to exceed $1 billion. This guidance considers the divestiture of our U.S. flexible packaging converting business, which we have assumed is completed in the first fiscal quarter of 2021. This business generated approximately $25 million dollars of operating EBITDA in fiscal 2020. We expect another year of organic volume growth of 2 percent, which is supported by our robust and growing pipeline, increased level of capital expenditures, and the positive trends and momentum we are seeing in each of our businesses. We also anticipate further strengthening our balance sheet and expect our leverage ratio to be 3.8 to 3.9 times at the end of fiscal 2021.

For earnings history and earnings-related data on Berry Global Group (BERY) click here.

You May Also Be Interested In

• Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
• Snap shares surge 26% on earnings beat, optimistic outlook
• Nomura Holdings (NMR) Reports In-Line Q1 EPS