For the quarter ended June 2023, Berry Global (BERY) reported revenue of $3.23 billion, down 13.3% over the same period last year. EPS came in at $1.90, compared to $2.03 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.46 billion, representing a surprise of -6.72%. The company delivered an EPS surprise of -3.55%, with the consensus EPS estimate being $1.97.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $657 million versus $714.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -16.6% change.
- Net sales- Engineered Materials [$M]: $738 million versus the four-analyst average estimate of $808.83 million. The reported number represents a year-over-year change of -19.3%.
- Net sales- Consumer Packaging- North America: $798 million versus $860.33 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -13.9% change.
- Net sales- Consumer Packaging- International: $1.04 billion compared to the $1.06 billion average estimate based on four analysts. The reported number represents a change of -5.5% year over year.
- Operating EBITDA- Health Hygiene & Specialties: $81 million compared to the $88.29 million average estimate based on three analysts.
- Operating EBITDA- Consumer Packaging- North America: $151 million versus $163.25 million estimated by three analysts on average.
- Operating EBITDA- Consumer Packaging- International: $170 million compared to the $171.26 million average estimate based on three analysts.
- Operating EBITDA- Engineered Materials: $120 million compared to the $123.29 million average estimate based on three analysts.
Shares of Berry Global have returned -6.5% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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