BERY - Berry Global reports EPS growth of 100% raises organic volume growth and EBITDA outlook for FY2021

Berry Global Group (BERY) +3.1% premarket on earnings beat with organic volume growth of 7% and adjusted EPS +100% in FQ1.Consumer Packaging – North America net sales +13% to $686M vs. consensus of $628.7M and International net sales +4% to $988M vs. consensus of $980.3M.Operating EBITDA advanced 20% to $539M.FQ1 Net Sales and Operating EBITDA Bridge:FY2021 Guidance: Organic volume growth: +4% from prior range of +2%; Operating EBITDA: $2.175-2.225B vs. prior guidance of $2.15B-$2.20B and consensus of $2.19B; Cash flow from operations: $1.525B-$1.625B; Free cash flow: $875M-$975M; Adjusted free cash flow: to exceed $1B; Capex: $650M.The company anticipates further strengthening of balance sheet and expects the leverage ratio to be 3.8 to 3.9 times at the end of FY2021.

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Berry Global reports EPS growth of 100%, raises organic volume growth and EBITDA outlook for FY2021