BRIEF-Berry Global Group Reports Strong First Quarter Results, Raises Fiscal Year 2021 Earnings Guidance

Feb 5 (Reuters) - Berry Global Group Inc BERY.N:

• BERRY GLOBAL GROUP, INC. REPORTS STRONG FIRST QUARTER 2021 RESULTS; RAISES FISCAL YEAR 2021 EARNINGS GUIDANCE

• QTRLY NET SALES OF $3.1 BILLION; 7 PERCENT ORGANIC VOLUME GROWTH

• QTRLY NET INCOME PER DILUTED SHARE UP 174 PERCENT TO $0.96

• QTRLY ADJUSTED NET INCOME PER DILUTED SHARE INCREASE OF 100 PERCENT TO $1.12

• INCREASED FISCAL 2021 ORGANIC VOLUME GROWTH ASSUMPTION BY 2 PERCENT, NOW TARGETING 4 PERCENT

• RAISED FISCAL 2021 OPERATING EBITDA GUIDANCE RANGE BY $25 MILLION TO $2.175 - $2.225 BILLION

• REAFFIRMED 2021 CASH FLOW FROM OPERATIONS AND FREE CASH FLOW GUIDANCE

• Q1 EARNINGS PER SHARE VIEW $0.94, REVENUE VIEW $2.90 BILLION -- REFINITIV IBES DATA

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