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PTVE - Pactiv Evergreen: Heavy Restructuring Set To Drive Margin Growth
Pactiv Evergreen Inc.
2024-06-02 14:18:51 ET
Summary
PTVE has been undergoing heavy restructuring and has experienced a decline in net revenue and net income in 2023, but has maintained strong adjusted EBITDA and free cash flow throughout.
The firm has announced a new restructuring plan, illustrating its commitment to restructuring efforts that are expected to further enhance efficiencies and generate cost savings.
Additionally, it has been actively cutting down on its debt, reducing its net leverage ratio from 7.63x to 4.07x. It has targeted to achieve a low 3s in 2024.