DJ Berry Global Raises FY21 Guidance
By Allison Prang
Packaging-products company Berry Global Group Inc. raised its fiscal 2021 guidance for operating earnings before interest, taxes, depreciation and amortization and its guidance for volume growth.
The company said it expects operating Ebitda to be between $2.175 billion and $2.225 billion, up $25 million from its old guidance. The company also said Friday it now expects organic volume growth of 4%. It was expecting 2%.
Berry still expects free cash flow to be between $875 million and $975 million.
"We have seen significant cost increases in our primary raw material, resin, along with some modest inflation in other raw material and other costs over the past several months including anticipated February increases," the company said, adding that it plans "on passing these transitory increases through."
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(END) Dow Jones Newswires
February 05, 2021 08:21 ET (13:21 GMT)
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