Why Berry Global Group Shares Popped 13.9% Today
Shares of packaging solutions company Berry Global Group (NYSE: BERY) jumped as much as 13.9% in trading Thursday after management reported fiscal fourth-quarter 2019 results and confirmed guidance for fiscal 2020. At 1:20 p.m. EST, shares were still up 11.3% on the day and holding steady.
Revenue was up 47% in the quarter to $3.02 billion, partly due to the acquisition of RPC Group, and net income jumped 72% to $229 million, or $1.70 per share. On an adjusted basis, earnings were $0.90 per share, easily topping the $0.74 estimate from Wall Street analysts.
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Source Fool.com
