PTVE - Earnings announcements

Solid execution and cost disciplinePoised for next phase of Transformational Journey Third Quarter 2024 Financial Highlights: Net Revenues of $1,333 million for the third quarter of 2024 were down 3% compared to $1,379 million in the third quarter of 2023 and were approximately flat compared to $1,338 million in the second quarter of 2024.Net Loss from continuing operations of $213 million for the third quarter of 2024 compared to net income of $28 million in the third quarter of 2023 and net income of $20 million in the second quarter of 2024.Adjusted EBITDA1 of $214 million for the third quarter of 2024 compared to $227 million in the third quarter of 2023 and $183 million in the sec

Announced sale represents exit from paper mills furthering strategic transformationSecond quarter impacted by end-market weakness and temporary operational disruptions at Pine Bluff millRevising 2024 guidance Second Quarter 2024 Financial Highlights: Net Revenues of $1,338 million for the second quarter of 2024 were down 6% compared to $1,426 million in the second quarter of 2023 and up 7% compared to $1,252 million in the first quarter of 2024.Net Income of $20 million for the second quarter of 2024 compared to a net loss of $139 million in the second quarter of 2023 and net income of $10 million in the first quarter of 2024.Adjusted EBITDA1 of $183 million for the second quarter of 2024

First Quarter 2024 Financial Highlights: Net Revenues of $1,252 million for the first quarter of 2024 were down 13% compared to $1,431 million in the first quarter of 2023 and down 2% compared to $1,274 million in the fourth quarter of 2023.Net Income of $10 million for the first quarter of 2024 compared to a net loss of $133 million in the first quarter of 2023 and net income of $22 million in the fourth quarter of 2023.Adjusted EBITDA1 of $168 million for the first quarter of 2024 compared to $189 million in the first quarter of 2023 and $207 million in the fourth quarter of 2023.Diluted earnings per share of $0.04 for the first quarter of 2024 compared to diluted loss per share of $0.76

LAKE FOREST, Ill., April 18, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its first quarter 2024 earnings release and teleconference call.  Earnings Release:Thursday, May 2, 2024, after market close  Webcast and Teleconference:Friday, May 3, 2024, at 8:30 a.m. EDT  Pactiv Evergreen Participants:Michael King, President and Chief Executive Officer   Jon Baksht, Chief Financial Officer   Curt Worthington, VP, Strategy & Investor Relations      Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. To join by phone, participants

Fourth Quarter 2023 Financial Highlights: Total Net Revenues of $1,274 million for the fourth quarter of 2023 were down 14% compared to $1,476 million in the fourth quarter of 2022 and down 8% compared to $1,379 million in the third quarter of 2023.Net Income from continuing operations of $22 million for the fourth quarter of 2023 compared to $27 million in the fourth quarter of 2022 and $28 million in the third quarter of 2023.Adjusted EBITDA1 of $207 million for the fourth quarter of 2023 compared to $167 million in the fourth quarter of 2022 and $227 million in the third quarter of 2023.Diluted earnings per share from continuing operations of $0.12 for the fourth quarter of 2023 compared

Solid operating performance and cost discipline; Raising 2023 guidance Third Quarter 2023 Financial Highlights: Net Revenues of $1,379 million for the third quarter of 2023 were down 14% compared to $1,609 million in the third quarter of 2022 and down 3% compared to $1,426 million in the second quarter of 2023.Net Income from continuing operations of $28 million for the third quarter of 2023 compared to $175 million in the third quarter of 2022, a net loss from continuing operations of $139 million in the second quarter of 2023 and a net loss from continuing operations of $217 million in the twelve months ended September 30, 2023.Adjusted EBITDA1 of $227 million for the third quarter of 20

LAKE FOREST, Ill., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its third quarter 2023 earnings release and teleconference call.  Earnings Release:Wednesday, November 1, 2023, after market close Webcast and Teleconference:Thursday, November 2, 2023, at 8:30 a.m. EDT Pactiv Evergreen Participants:Michael King, President and Chief Executive Officer  Jon Baksht, Chief Financial Officer  Curt Worthington, VP, Strategy & Investor Relations    Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/ news-events/events-presentations. To join by phone, participa

Delivered on our commitments and achieved important milestone in Beverage Merchandising Restructuring Second Quarter 2023 Financial Highlights: Net Revenues of $1,426 million for the second quarter of 2023 were down 13% compared to $1,640 million in the second quarter of 2022 and approximately flat compared to $1,431 million in the first quarter of 2023.Net Loss of $139 million for the second quarter of 2023 compared to $74 million of net income in the second quarter of 2022 and a net loss of $133 million in the first quarter of 2023.Adjusted EBITDA1 of $217 million for the second quarter of 2023 decreased 13% compared to $249 million in the second quarter of 2022 and increased 15% compare

LAKE FOREST, Ill., July 17, 2023 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its second quarter 2023 earnings release and teleconference call. Earnings Release:     Wednesday, August 2, 2023, after market close  Webcast and Teleconference: Thursday, August 3, 2023, at 8:30 a.m. EDT  Pactiv Evergreen Participants: Michael King, President and Chief Executive OfficerJon Baksht, Chief Financial OfficerCurt Worthington, VP, Strategy & Investor Relations    Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. To join by phone, participants c

First quarter 2023 performance exceeds guidance; Raising 2023 guidance First Quarter 2023 Financial Highlights: Net Revenues of $1,431 million for the first quarter of 2023 were down 4% compared to $1,495 million in the first quarter of 2022 and down 3% compared to $1,476 million in the fourth quarter of 2022.Net Loss of $133 million for the first quarter of 2023 compared to $43 million of net income in the first quarter of 2022 and $27 million of net income in the fourth quarter of 2022.Adjusted EBITDA1 of $189 million for the first quarter of 2023 increased 4% compared to $182 million in the first quarter of 2022 and increased 13% compared to $167 million in the fourth quarter of 2022.Di

Fourth Quarter 2022 Financial Highlights: Net Revenues of $1,476 million for the fourth quarter of 2022 were down 3% compared to $1,527 million in the fourth quarter of 2021 and down 8% compared to $1,609 million in the third quarter of 2022.Net Income from continuing operations of $27 million for the fourth quarter of 2022 decreased 21% compared to $34 million in the fourth quarter of 2021 and decreased 85% compared to $175 million in the third quarter of 2022.Adjusted EBITDA1 of $167 million for the fourth quarter of 2022 decreased 19% compared to $205 million in the fourth quarter of 2021 and decreased 11% compared to $187 million in the third quarter of 2022. Full Year

LAKE FOREST, Ill., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced the following details for its fourth quarter 2022 earnings release and teleconference call. Earnings release:     Monday, March 6, 2023, after market close   Webcast and Teleconference: Tuesday, March 7, 2023 at 8:30 a.m. ET.   Pactiv Evergreen Participants: Michael King, CEOJon Baksht, CFO    Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-877-300-9306 from the U.S. or 1-412-542-4176 internationally and using access code 1063220. C

Delivers solid sequential and year-over-year financial results across all segments and raises 2022 Adjusted EBITDA guidanceStrengthens financial position with receipt of Asia business sale proceeds and pension settlementImproves operational performance Third Quarter 2022 Financial Highlights: Net Revenues of $1,609 million for the third quarter of 2022 were down 2% compared to $1,640 million in the second quarter of 2022 with 3% attributed to volume decline, partially offset by 2% growth due to price/mix. Net revenues were up 15% compared to $1,394 million in the third quarter of 2021 with attributions of 17% growth due to price/mix and 8% growth due to acquisitions, partially offset by 8%

LAKE FOREST, Ill., Oct. 11, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its third quarter 2022 earnings release and teleconference call. Earnings release:Monday, November 7, 2022, after market close  Webcast and Teleconference:Tuesday, November 8, 2022 at 8:30 a.m. EDT  Pactiv Evergreen Participants:Michael King, CEO   Jon Baksht, CFO   Dhaval Patel, SVP, Investor Relations & Corporate Strategy Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-877-300-9306 from the U.S. or 1-412-542-41

Raising our 2022 Adjusted EBITDA guidance to reflect our strong year-to-date performanceReturning to stronger operational performanceCompleted exit of Asia business and received preliminary proceeds of $336 million in August Second Quarter 2022 Financial Highlights: Net Revenues of $1,640 million for the second quarter of 2022 were up 21% compared to $1,352 million in the prior year period with 23% growth due to price/mix and 9% growth due to acquisitions, partially offset by a 10% volume decline and a slight decline for foreign exchange.Net Income from continuing operations of $74 million for the second quarter of 2022 compared to $8 million in the prior year period.Adjusted EBITDA1 from

LAKE FOREST, Ill., July 12, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its second quarter 2022 earnings release and teleconference call. Earnings release:Wednesday, August 3, 2022, after market close  Webcast and Teleconference:Thursday, August 4, 2022 at 8:00 a.m. EDT  Pactiv Evergreen Participants:Michael King, CEO Jon Baksht, CFO Dhaval Patel, SVP, Investor Relations & Corporate Strategy Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-877-300-9306 from the U.S. or 1-412-542-4

First Quarter 2022 Financial Highlights: Net Revenues of $1,495 million for the first quarter of 2022 were up 28% compared to $1,164 million in the prior year period with 26% growth due to price & mix and 9% growth due to acquisitions, partially offset by a 5% volume decline and slight declines for foreign exchange and dispositions.Net Income from continuing operations of $43 million for the first quarter of 2022 compared to a net loss of $11 million in the prior year period.Adjusted EBITDA1 from continuing operations of $182 million for the first quarter of 2022 compared to $77 million in the prior year period. LAKE FOREST, Ill., May 04, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. ("

LAKE FOREST, Ill., April 07, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its first quarter 2022 earnings release and teleconference call. Earnings release: Wednesday, May 4, 2022, after market close   Webcast and Teleconference: Thursday, May 5, 2022 at 8:00 a.m. ET.   Pactiv Evergreen Participants: Michael King, CEO  Michael Ragen, CFO  Dhaval Patel, SVP, Investor Relations & Strategy Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-844-825-9789 from the U.S. or 1-412-317-518

LAKE FOREST, Ill., Jan. 21, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its fourth quarter 2021 earnings release and teleconference call. Earnings release:Wednesday, February 23, 2022, after market close  Webcast and Teleconference:Thursday, February 24, 2022 at 8:00 a.m. ET.  Pactiv Evergreen Participants:Michael King, CEO   Michael Ragen, CFO   Dhaval Patel, SVP, Investor Relations & Strategy   Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-877-407-0789 from the U.S. or 1-201-689

LAKE FOREST, Ill., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. ("Pactiv Evergreen" or the "Company"), today reported results for the third quarter 2021 ended September 30, 2021. Michael King, Chief Executive Officer of Pactiv Evergreen, "Our third quarter 2021 results were broadly in line with the revised full year fiscal 2021 guidance we provided in September. We continue to see demand recovery with overall volumes up 3% in the quarter. In addition, our business realized strong price increases with a 14% improvement in price/mix in the quarter due to traditional cost pass-through price increases and pricing actions that partially offset inflationary increases in materials, co

LAKE FOREST, Ill., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its third quarter 2021 earnings release and teleconference call. Earnings release: Wednesday, November 3, 2021, after market close   Webcast and Teleconference:  Thursday, November 4, 2021 at 8:00 a.m. ET.   Pactiv Evergreen Participants: Michael King, CEO  Michael Ragen, CFO  Dhaval Patel, SVP, Investor Relations & Strategy Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/news-events/events-presentations. The call may also be accessed by dialing 1-844-825-9789 from the U.S. or

LAKE FOREST, Ill., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) ("Pactiv Evergreen" or the "Company"), today provided an update to its previous financial guidance. Pactiv Evergreen is revising the full fiscal year 2021 Adjusted EBITDA1 guidance to $550 million. Although the Company is seeing continued underlying volume recovery across all of our segments, profitability is expected to be negatively impacted by a number of significant external challenges. First, the continued increase in raw materials costs, particularly the cost of resins, which is now expected to remain at elevated levels throughout 2021, as well as increased transportation costs, has delayed ou

LAKE FOREST, Ill., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its wholly-owned subsidiary, Pactiv Evergreen Group Holdings Inc. has reached a definitive agreement to acquire Fabri-Kal, a leading manufacturer of foodservice and consumer brand packaging solutions. The transaction, valued at approximately $380 million, subject to adjustments for cash, working capital and indebtedness, is expected to close late in the third quarter or early in the fourth quarter of this year, subject to regulatory approvals and satisfaction of other customary closing conditions. "Combining these two complementary companies will further expand Pactiv Evergreen's

LAKE FOREST, Ill., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. ("Pactiv Evergreen" or the "Company"), today reported results for the second quarter 2021 ended June 30, 2021. Michael King, Chief Executive Officer of Pactiv Evergreen, "As indicated in our last earnings call, the second quarter saw continued volume recovery across all of our segments but inflation on raw materials, transportation and labor and the residual effects from Winter Storm Uri led to higher costs of goods sold in Q2 2021. I am very proud of our team as they remain focused on servicing our customers despite the current environment and helped deliver solid results for the quarter." King continued, "Volume

LAKE FOREST, Ill., July 19, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its second quarter 2021 earnings release and teleconference call. Earnings release:Wednesday, August 4, 2021, after market close  Webcast and Teleconference:Thursday, August 5, 2021 at 8:30 a.m. ET.  Pactiv Evergreen Participants:Michael King, CEO Michael Ragen, CFO/COO Dhaval Patel, SVP, Investor Relations & Strategy Participants may access the live webcast on the Company's Investor Relations website at https://investors.pactivevergreen.com/ under "News & Events." The call may also be accessed by dialing (877) 210-1510 from the U.S. or (312) 429-0433 inter