Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Berry Global Stock Plunged Today

TheMotleyFool

0 0

Why Berry Global Stock Plunged Today: https://g.foolcdn.com/editorial/images/764427/shopping-for-cleaning-supplies.jpg

Shares of Berry Global (NYSE: BERY) fell 11.8% on Wednesday after the plastic packaging solutions company announced weaker-than-expected quarterly results.

For its fiscal first quarter ended Dec. 30, 2023, Berry's net sales declined 7% year over year to $2.85 billion, translating to a 6% drop in adjusted (non-GAAP) earnings to $1.22 per share. Most analysts were looking for higher earnings of $1.29 per share on revenue closer to $2.99 billion.

Nonetheless, Berry CEO Kevin Kwilinski called it a "solid" quarter in light of current challenging macroeconomic headwinds and inflation impacting consumer demand.

Source Fool.com

Like: 0

BERY

Share