Evansville’s Berry Global reports Q2 profit of $126 million


Image courtesy Berry Global

EVANSVILLE, Ind. (AP) — Berry Global Group Inc. on Friday reported fiscal second-quarter profit of $126 million.

The Evansville-based company said it had net income of 94 cents per share.

Earnings, adjusted for one-time gains and costs, came to $1.19 per share.

The results beat Wall Street expectations.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The packaging company posted revenue of $2.98 billion in the period, which missed Street forecasts.

Four analysts surveyed by Zacks expected $3.06 billion.

Berry Global shares have decreased 16% since the beginning of the year.

The stock has decreased 32% in the last 12 months.

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(This story was originally published on May 1, 2020)

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