Berry Global Group, Inc. (NYSE:BERY) Q2 2024 Earnings Conference Call May 9, 2024 10:00 AM ET
Company Participants
Dustin Stilwell - Investor Relations
Kevin Kwilinski - Chief Executive Officer
Mark Miles - Chief Financial Officer
Conference Call Participants
George Staphos - Bank of America Securities
Phil Ng – Jefferies
Adam Samuelson - Goldman Sachs
Matt Roberts - Raymond James
Christopher Parkinson - Wolfe Research
Ghansham Panjabi – Baird
Arun Viswanathan - RBC Capital Markets
Mike Leithead - Barclays
Michael Roxland - Truist Securities
Edlain Rodriguez – Mizuho
Operator
Good day, and thank you for standing by. Welcome to the Second Quarter 2024 Berry Global Group Earnings Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Dustin Stilwell, Investor Relations. Please go ahead.
Dustin Stilwell
Thank you, operator, and thank you to everyone for joining Berry's second fiscal quarter 2024 earnings call.
Joining me this morning, I have Berry's Chief Executive Officer, Kevin Kwilinski; Berry's Chief Financial Officer, Mark Miles.
Following our comments today, we will have a question-and-answer session. In order to allow everyone the opportunity to participate, we do ask that you limit yourself to one question with a brief follow-up, and then fall back into the queue for any additional questions.
A few things to note before handing the call over. On our website at berryglobal.com, you can find today's press release and earnings call presentation under our Investor Relations section.
As referenced on Slide 2 and Slide 3, during this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measures in our earnings press release and presentation, which were made public earlier this morning.
Additionally, we will make forward-looking statements that are subject to risks and uncertainties. Actual results or outcomes may differ materially from those that may be expressed or implied in our forward-looking statements. Some factors that could cause the results or outcomes to differ are in the company's latest 10-K, our other SEC filings, and our news releases.
I will now turn the call over to Berry's CEO, Kevin Kwilinski.
Kevin Kwilinski
Thank you, Dustin, and thank you to everyone for joining us today to discuss Berry's second quarter results for fiscal 2024.
The second quarter came in consistent with our expectations. Our proactive measures around repositioning our portfolio to higher growth markets and reducing our cost structure have allowed us to outperform in a weaker than normal macro demand environment. We're excited to share that our team has identified additional opportunities to enhance our competitive position. As a result, we've expanded our cost savings program by an extra $25 million bringing the total to $165 million. We're on track to achieve these savings by the end of fiscal year 2025.