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Berry Plastics (BERY) Beats on Q4 Earnings, Lags Revenues

November 30, 2016 /

(BERY - Free Report) posted fourth-quarter fiscal 2016 (ended Oct 1, 2016) results with adjusted earnings per share of 73 cents improving around 46% year over year. Earnings comfortably beat the Zacks Consensus Estimate of 59 cents per share. Including one-time items, the company posted earnings of 61 cents per share, up 56% from 39 cents earned in the year-ago quarter. Berry Plastics reported sales of $1.62 billion in the quarter, up 35% from the year-ago period. However, the top line lagged the Zacks Consensus Estimate of $1.63 billion. The year-over-year increase can primarily be attributed to net sales from the AVINTIV buyout.