Berry Plastics (BERY) Stock Climbs Following Earnings Beat
NEW YORK (TheStreet) -- Shares of Berry Plastics Group (BERY) - Get Report are up by 5.85% to $34.72 in afternoon trading on Friday, following the release of the company's fourth quarter earnings results today.
The Evansville, IN-based plastic consumer packaging company reported a fourth quarter profit of $48 million, or 50 cents per share on an adjusted basis versus analysts' 45 cents per share expectations.
Revenue for the period fell by 8.7% year over year to $1.2 billion versus analysts' $1.24 billion expectations.
"In the September 2015 quarter, we had strong cash generation as cash flow from operations was $245 million, resulting in $189 million of adjusted free cash flow. Additionally we increased our Operating EBITDA margins (17.1% of net sales) by more than 100 basis points from the prior year quarter." CEO Jon Rich said in a statement.
Separately, TheStreet Ratings team rates BERRY PLASTICS GROUP INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate BERRY PLASTICS GROUP INC (BERY) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and poor profit margins.
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