Berry Plastics Shares Depressed From Leverage
Alpha Gen Capital
Alpha Gen Capital
Berry Plastics: Not Worth The Risk
Darspal S Mann
Darspal S Mann
Today, 8:53 AM
- The Board of Directors of Berry Plastics Group (NYSE:BERY) elected E. (Tom) Salmon the President and Chief Operating Officer effective October 3. Salmon will continue to serves as President of the Company’s Consumer Packaging Division until his successor is appointed.
- Chairman and Chief Executive Officer, Jonathan D. (Jon) Rich intends to step down as Chief Executive Officer effective in February 2017 and will continue to serve as Executive Chairman of the Board.
- “The creation of the President and Chief Operating Officer role is the next step in our ongoing succession process. Tom’s background, experience and track record of success leading multiple Berry divisions throughout his career with the Company make him eminently qualified to take on this important leadership role,” said Rich. “Berry is well positioned to continue the success we have achieved since our IPO in 2012. The Company has a strong leadership team and the time is right for the next generation to take Berry into the future. I look forward to continuing my role with the Company as Executive Chairman.”
- Press Release
Thu, Aug. 25, 7:41 AM
- Berry Plastics (NYSE:BERY) agrees to acquire AEP Industries (NASDAQ:AEPI) in a cash and stock deal valued at $765M, including debt.
- Each AEPI shareholder will elect to receive either $110 in cash or ~2.5 BERY common shares per AEPI share in the deal.
- BERY expects the deal to be accretive to adjusted net income and adjusted free cash flow by more than 10% after anticipated annual cost synergies of $50M or more.
Mon, Aug. 15, 2:05 PM| Mon, Aug. 15, 2:05 PM
Tue, Aug. 9, 9:10 AM
- Berry Plastics (NYSE:BERY) reports Consumer Packaging net sales declined 4% to $705M in FQ3.
- Health, Hygiene, & Specialties net sales rose 365% to $567M.
- Engineered Materials net sales fell 4% to $373M.
- Operating margin rate improved 110 bps to 10.9%.
- Operating EBITDA increased 44.3% to $316M.
- FY2016 Guidance: Operating EBITDA: $1.2B; Adjusted free cash flow: $475M; Capex: $285M.
Tue, Aug. 9, 8:34 AM
Mon, Aug. 8, 5:30 PM
- ACM, AER, AMAG, AMRC, AMSC, ARES, BDSI, BERY, BITA, BR, CECE, CHTR, CNK, COH, CORE, EGRX, ENZY, EVEP, EXC, GLPI, GWPH, HCP, HHS, HPT, HRI, HWCC, INCY, IONS, IPXL, JEC, LABL, LAMR, LGIH, LNCE, LNG, LRN, LXP, MCC, MPAA, MWW, NCLH, NCT, NRG, NXST, NYLD, OCUL, PDCE, PMC, PPL, RDNT, RRGB, RSTI, SATS, SNI, SSH, STE, TDG, TESO, TGH, TLP, TRCO, UNVR, VRTU, VRX, W, WAC, WPRT, WWAV, ZBRA
Tue, May 10, 8:33 AM
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Wed, Feb. 10, 8:31 AM
- Berry Plastics (NYSE:BERY): FQ1 EPS of $0.35 misses by $0.05.
- Revenue of $1.61B (+32.0% Y/Y) misses by $40M.
Tue, Feb. 9, 5:30 PM
Nov. 13, 2015, 8:32 AM
- Berry Plastics (NYSE:BERY): FQ4 EPS of $0.50 beats by $0.04.
- Revenue of $1.2B (-8.4% Y/Y) misses by $50M.
Nov. 12, 2015, 5:30 PM
Sep. 15, 2015, 5:42 PM
Jul. 31, 2015, 8:32 AM
- Berry Plastics (NYSE:BERY): FQ3 EPS of $0.51 misses by $0.01.
- Revenue of $1.24B (-4.6% Y/Y) misses by $80M.
- Shares +0.3% PM.
Jul. 30, 2015, 5:30 PM
May 1, 2015, 8:40 AM
- Berry Plastics (NYSE:BERY): FQ2 EPS of $0.42 in-line.
- Revenue of $1.22B (+0.8% Y/Y) misses by $70M.