Berry Global Group Inc. Up 5.02% To $53.60 After Earnings

Berry Global Group Inc. (BERY) said before open Tuesday that it broke even in quarter four 2022.

In the same quarter a year ago, the company earned $1.55 per share on revenue of $3.7 billion.

The stock is up 5.02% to $53.60 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 59. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Berry Global Group is a leading global supplier of plastic packaging products mainly sold to consumer-oriented end markets. The four business segments are consumer packaging international, consumer packaging North America, engineered materials, and health, hygiene, and specialties. The company primarily uses plastic resin as its raw material, purchased from a variety of global suppliers. The majority of revenue comes from consumer packaging international due to the acquisition of RPC, which expanded the geographical areas in which the company operates. The consumer packaging segment consists of closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, polythene films, recycling, containers, and technical components.