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Berry Global (BERY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Berry Global (BERY - Free Report) reported revenue of $3.29 billion, down 12.9% over the same period last year. EPS came in at $1.96, compared to $1.93 in the year-ago quarter.
The reported revenue represents a surprise of -4.17% over the Zacks Consensus Estimate of $3.43 billion. With the consensus EPS estimate being $1.85, the EPS surprise was +5.95%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Berry Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Health Hygiene & Specialties: $677 million compared to the $730.93 million average estimate based on four analysts. The reported number represents a change of -17.6% year over year.
Net sales- Engineered Materials [$M]: $778 million versus the four-analyst average estimate of $812.46 million. The reported number represents a year-over-year change of -16.7%.
Net sales- Consumer Packaging- North America: $774 million versus the four-analyst average estimate of $816.17 million. The reported number represents a year-over-year change of -12.1%.
Net sales- Consumer Packaging- International: $1.06 billion compared to the $1.02 billion average estimate based on four analysts. The reported number represents a change of -7% year over year.
Operating EBITDA- Health Hygiene & Specialties: $84 million versus $96.84 million estimated by three analysts on average.
Operating EBITDA- Consumer Packaging- North America: $156 million compared to the $154.40 million average estimate based on three analysts.
Operating EBITDA- Consumer Packaging- International: $174 million versus the three-analyst average estimate of $156.59 million.
Operating EBITDA- Engineered Materials: $127 million versus the three-analyst average estimate of $115.87 million.
Shares of Berry Global have returned -6.4% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Berry Global (BERY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Berry Global (BERY - Free Report) reported revenue of $3.29 billion, down 12.9% over the same period last year. EPS came in at $1.96, compared to $1.93 in the year-ago quarter.
The reported revenue represents a surprise of -4.17% over the Zacks Consensus Estimate of $3.43 billion. With the consensus EPS estimate being $1.85, the EPS surprise was +5.95%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Berry Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net sales- Health Hygiene & Specialties: $677 million compared to the $730.93 million average estimate based on four analysts. The reported number represents a change of -17.6% year over year.
- Net sales- Engineered Materials [$M]: $778 million versus the four-analyst average estimate of $812.46 million. The reported number represents a year-over-year change of -16.7%.
- Net sales- Consumer Packaging- North America: $774 million versus the four-analyst average estimate of $816.17 million. The reported number represents a year-over-year change of -12.1%.
- Net sales- Consumer Packaging- International: $1.06 billion compared to the $1.02 billion average estimate based on four analysts. The reported number represents a change of -7% year over year.
- Operating EBITDA- Health Hygiene & Specialties: $84 million versus $96.84 million estimated by three analysts on average.
- Operating EBITDA- Consumer Packaging- North America: $156 million compared to the $154.40 million average estimate based on three analysts.
- Operating EBITDA- Consumer Packaging- International: $174 million versus the three-analyst average estimate of $156.59 million.
- Operating EBITDA- Engineered Materials: $127 million versus the three-analyst average estimate of $115.87 million.
View all Key Company Metrics for Berry Global here>>>Shares of Berry Global have returned -6.4% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.