Pactiv Evergreen Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 04, 2022 at 09:07 pm
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Pactiv Evergreen Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 1,495 million compared to USD 1,164 million a year ago. Net income was USD 43 million compared to net loss of USD 15 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to diluted loss per share from continuing operations of USD 0.07 a year ago. Basic earnings per share was USD 0.24 compared to basic loss per share of USD 0.09 a year ago. Diluted earnings per share was USD 0.24 compared to diluted loss per share of USD 0.09 a year ago.
Pactiv Evergreen Inc. is a manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company operates through two segments: Foodservice and Food and Beverage Merchandising. Its Foodservice segment manufactures food containers, drinkware (hot and cold cups and lids), tableware, service ware and other products which make eating on-the-go. Its Food and Beverage Merchandising segment products include cartons for fresh refrigerated beverage products, primarily serving dairy (including plant-based, organic and specialties), juice and other specialty beverage end-markets, clear rigid-display containers, containers for prepared and ready-to-eat food, trays for meat and poultry and egg cartons. It also produces fiber-based liquid packaging board. It supplies products to a diversified mix of companies, including full-service restaurants, quick service restaurants, foodservice distributors, supermarkets, and food processors.