Berry Global Group, Inc. (BERY) announced an increase in profit for its third quarter, surpassing Wall Street expectations.
The company's net income amounted to $193 million, or $1.65 per share, compared to $143 million, or $1.18 per share, in the same period last year.
Excluding certain items, Berry Global's adjusted earnings stood at $2.18 per share for the quarter.
Analysts had projected average earnings of $2.06 per share, according to Thomson Reuters data. Typically, analysts' forecasts exclude special items.
Revenue for the quarter saw a decline of 2.1%, dropping to $3.161 billion from the previous year's $3.229 billion.
Key financial highlights for Berry Global Group, Inc. (GAAP):
- Earnings (Q3): $193 million vs. $143 million last year.
- Earnings Per Share (Q3): $1.65 vs. $1.18 last year.
- Revenue (Q3): $3.161 billion vs. $3.229 billion last year.
Guidance:
The company projects a full-year EPS of $7.60.
