Pactiv Evergreen Reports Third Quarter 2024 Financial Results

Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) today reported results for the third quarter of 2024. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “Our execution during the third quarter was solid and we made meaningful progress on our long-term strategy. We maintained strict cost discipline, optimized enterprise resources and overcame challenges at the Pine Bluff, Arkansas mill during its final quarter under our ownership. As we advance to the next phase of our transformational journey, we intend to leverage our heritage of product innovation and design to foster growth and assist our customers in achieving their sustainability goals.”

King continued, “In late September and early October, some of our teams and communities were significantly impacted by Hurricanes Helene and Milton. The safety and well-being of our team members remain our utmost priority. It’s been truly inspiring to witness our teams swiftly activate contingency plans in response to these severe weather events, showcasing their commitment to serving our customers and supporting the affected communities.”

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.
details at: https://investors.pactivevergreen.com/news-releases/news-release-details/pactiv-evergreen-reports-third-quarter-2024-financial-results

Related Posts

A new simplified range of solvent-based inks and coatings for European Flexible Packaging converters

Flint Group Packaging Inks, one of the largest ink and coatings suppliers to the global print and packaging industry, has enhanced its solvent-based range of inks and coatings for European customers. The new ONECode range is designed simplify the flexible packaging printing process, reducing process waste and increasing ease in doing business. "Under the ONECode brand, we have built a new product hierarchy including six new brands," says Kim Melander, Vice President & General Manager for Packaging Inks Europe, "These ink systems, developed to unlock the complex landscape of flexible package printing, to connect, clarify, and bring transparency to the flexible packaging printing industry.” Mr. Melander continues, “Flint Group Packaging Inks’ ONECode range will guarantee printers and converters innovative, reliable, and sustainable ink solutions that deliver the highest performance possible from your most simple to your most demanding applications.”

Pactiv Evergreen Reports Fourth Quarter 2023 Financial Results

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. Full Year 2023 Financial Highlights: *Total Net Revenues of $5,510 million for the year ended December 31, 2023 were down 11% compared to $6,220 million in the prior year. *Net Loss from continuing operations of $222 million for the year ended December 31, 2023 compared to net income from continuing operations of $319 million in the prior year.

Redesigning the Future with Renewable Packaging

Stora Enso’s consumer insights show that customers value packaging that is easy to use and that protects the freshness of their groceries. 6 out of 7 customers say that the single most important thing is that the packaging keeps the products fresh. What else is important to them?
Back To Top
×Close search
Search