Berry Global Group Reports Mixed Q4 Results, Provides Guidance

Berry Global Group (NYSE:BERY) reported its Q4 results, with EPS of $2.19 coming in better than the Street estimate of $2.15. Revenue was $3.4 billion, compared to the Street estimate of $3.65 billion.

While the results were mixed, analysts at Deutsche Bank believe it was likely in line with lowered investor expectations. As a positive, the company continues to return capital to shareholders and initiated a quarterly dividend of $0.25 for an annualized yield of just under 2%. On top of this, $600 million of share repurchases are expected for fiscal 2023, which follows the $709 million repurchased this past fiscal year.

The company provided its 2023 outlook, expecting EPS to be in the range of $7.30-$7.80, compared to the Street estimate of $7.35.