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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Berry Global Group Inc (NYSE:BERY) reported fourth-quarter FY21 sales growth of 22% year-on-year, to $3.67 billion, beating the analyst consensus of $3.47 billion.
- Organic volumes were down 1% in the quarter primarily due to the negative impact from supply chain and labor challenges.
- Consumer packaging revenue in North America rose 31% Y/Y, and International grew 12%. Net sales from Health, Hygiene & Specialties climbed 21%, and Engineered materials jumped 30%.
- Selling, general and administrative expenses declined 9.1%.
- The operating margin was 8.5%, and operating income for the quarter fell 10.6% to $312 million.
- Adjusted EPS of $1.55 beat the analyst consensus of $1.52.
- The company held $1.1 billion in cash and equivalents as of October 2, 2021. Cash flow from operations for the year totaled $1.6 billion, with a free cash flow of $904 million.
- Outlook: Berry sees FY22 adjusted EPS of $7.20 - $7.70, above the consensus of $6.35. It targets 2% organic volume growth for FY22 versus 4% growth recorded in FY21.
- Price Action: BERY shares are trading lower by 7.86% at $64.72 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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