News

Berry Global Reports Lower Earnings and Sales in Fiscal Third Quarter

1 Mins read

Berry Global, a leading packaging company based in Evansville, Indiana, experienced a decline in earnings and sales during its fiscal third quarter. This slowdown in demand affected both its major markets in North America and internationally.

Decrease in Profit and Sales

In comparison to the same quarter last year, Berry Global’s profit dropped from $207 million to $143 million. Earnings per share also declined from $1.58 to $1.18. After adjusting for one-time items, the company’s adjusted earnings per share were recorded at $1.90. However, this fell short of the $1.99 per share forecasted by analysts.

Similarly, sales decreased from $3.73 billion in the year-ago quarter to $3.23 billion this quarter. This figure also missed analyst expectations of $3.42 billion.

Factors Contributing to the Decline

The decrease in sales can be primarily attributed to lower selling prices and a 7% decline in volumes due to weaker demand within Berry Global’s consumer and industrial markets. However, the company did experience some growth in its foodservice sector.

This decline in volume negatively impacted operating income by $44 million. Additionally, there were $30 million of additional business integration costs and a $10 million expense associated with a third-party warehouse fire.

Market Response

As a result of the disappointing financial results, Berry Global’s shares dropped 2.5% to $60 during premarket trading.

Related posts
News

Bri-Chem Announces 2025 First Quarter Financial Results

5 Mins read
Edmonton, Alberta–(Newsfile Corp. – May 15, 2025) – Bri-Chem Corp. (TSX: BRY) (“Bri-Chem” or “Company”), a leading North American oilfield chemical distribution…
News

Institutional investors juggle bitcoin ETF holdings, US filings show

2 Mins read
Hedge funds trim bitcoin ETF positionsTrending NowBest Forex Trading Robots To Invest In 2022 * State of Wisconsin exits bitcoin; Brown University…
News

PumpSwap Launched Revenue Sharing Aimed at Incentivizing Creators - Tekedia

2 Mins read
PumpSwap, the decentralized exchange developed by Solana-based meme coin launchpad Pump.Fun, launched a revenue-sharing model on May 12, 2025, distributing 50% of…

Leave a Reply

Your email address will not be published. Required fields are marked *

55 + = 60