From Nasdaq:

Berry Global (NYSE: BERY) shares dropped 11.8% after weaker-than-expected Q1 results. Net sales decreased 7% to $2.85 billion, resulting in a 6% drop in adjusted earnings to $1.22 per share, far below expectations of $1.29 per share. CEO called the quarter “solid” due to strong cost reductions and mix optimization. Still, with macroeconomic headwinds and inflation negatively impacting consumer demand, it’s no surprise to see shares pull back. Looking ahead, Berry reaffirmed a 2024 adjusted EPS outlook of $7.35 to $7.85 and free cash flow of $800 million to $900 million, but this underperformance raises skepticism.



Read more: Why Berry Global Stock Plunged Today