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.
Synopsis
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Pactiv Evergreen: Heavy Restructuring Set To Drive Margin Growth