Berry Global: Fiscal 4Q Earnings Snapshot
EVANSVILLE, Ind. (AP) _ Berry Global Group Inc. (BERY) on Thursday reported fiscal fourth-quarter net income of $229 million.
The Evansville, Indiana-based company said it had profit of $1.70 per share. Earnings, adjusted for one-time gains and costs, were 90 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The packaging company posted revenue of $3.02 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.13 billion.
For the year, the company reported profit of $404 million, or $3 per share. Revenue was reported as $8.88 billion.
Berry Global shares have declined 12% since the beginning of the year. The stock has decreased 15% in the last 12 months.