Pactiv Evergreen Inc reports results for the quarter ended in September - Earnings Summary

Pactiv Evergreen

02/11/2023 05:50

* Pactiv Evergreen Inc  PTVE.OQ  reported quarterly adjusted
earnings of 32 cents​​ per share for the quarter ended in
September, lower than the same quarter last year, when the
company reported EPS of 98 cents.  The mean expectation of
six analysts for the quarter was for earnings of 20 cents per
share. Wall Street expected results to range from 12 cents to 24
cents per share.
    * Revenue fell 14.3% to $1.38 billion from a year ago;
analysts
expected $1.39 billion. 
    * Pactiv Evergreen Inc's reported EPS for the quarter was 15
cents​.
    * The company reported quarterly net income of $28 million.
    * Pactiv Evergreen Inc shares had risen by 4.9% this
quarter and
lost 24.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the non-paper
containers & packaging peer group is also "hold"

Wall Street's median 12-month price target for Pactiv Evergreen
Inc is $10.00 
This summary was machine generated from LSEG data November 2 at
05:50 a.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.20           0.32           Beat
 Jun. 30 2023      0.22           0.20           Missed
 Mar. 31 2023      0.07           -0.76          Missed
 Dec. 31 2022      0.06           0.15           Beat