Pactiv Evergreen Inc. manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, and other products. The Food Merchandising segment provides clear rigid-display containers, containers for prepared and ready-to-eat food, trays for meat and poultry, and molded fiber cartons. The Beverage Merchandising segment offers cartons for fresh refrigerated beverage products. This segment also provides integrated fresh carton systems, which include printed cartons with high-impact graphics, spouts, and filling machines, as well as fiber-based liquid packaging board and range of paper-based products. The company serves full-service restaurants, quick service restaurants, foodservice distributors, supermarkets, grocery and healthy eating retailers, other food stores, food and beverage producers, and food packers and food processors. The company was formerly known as Reynolds Group Holdings Limited. Pactiv Evergreen Inc. was founded in 1880 and is headquartered in Lake Forest, Illinois. Pactiv Evergreen Inc. is a subsidiary of Packaging Finance Limited.
IPO Year: 2020
Exchange: NASDAQ
Website: pactivevergreen.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/10/2025 | $18.00 | Buy → Neutral | UBS |
| 12/18/2024 | $15.00 → $18.00 | Buy → Hold | Jefferies |
| 12/10/2024 | $13.00 → $18.00 | Buy → Neutral | Citigroup |
| 1/19/2024 | $18.00 | Buy | Jefferies |
| 1/16/2024 | $19.00 | Buy | UBS |
| 1/3/2024 | $10.00 → $16.00 | Neutral → Buy | Citigroup |
| 1/2/2024 | $14.00 → $16.00 | Neutral → Buy | BofA Securities |
| 5/23/2022 | $12.00 → $10.00 | Buy → Neutral | Citigroup |
| 5/6/2022 | $9.00 → $13.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/14/2022 | $13.00 | Buy → Neutral | BofA Securities |
LAKE FOREST, Ill., March 28, 2025 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. ("Pactiv Evergreen" or the "Company") (NASDAQ:PTVE) today announced that all required regulatory approvals have been received in connection with the Company's previously announced definitive agreement to be acquired by Novolex® for $18.00 per share in cash. As a result, the transaction is now expected to close on April 1, 2025, subject to satisfaction of other customary closing conditions. Upon the completion of the transaction, Pactiv Evergreen will become a privately held company, and its common stock will no longer be listed on Nasdaq. Goldman Sachs & Co. LLC and Lazard Frères & Co. LLC are acting as fina
LAKE FOREST, Ill., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. ("Pactiv Evergreen" or the "Company") (NASDAQ:PTVE) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the Company's previously announced definitive agreement to be acquired by Novolex® for $18.00 per share in cash. The transaction is expected to close in the second quarter of 2025, subject to receipt of foreign antitrust approvals and satisfaction of other customary closing conditions. Upon the completion of the transaction, Pactiv Evergreen will become a privately held company, and its common stock will no longer be listed on Na
LAKE FOREST, Ill., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Pactiv Evergreen's molded fiber egg cartons and filler flats have been certified by the Forest Stewardship Council® (FSC®) as being made from 100 percent recycled materials. This significant milestone reinforces the Company's purpose of Packaging a Better Future by protecting the planet's natural resources. This certification, under Pactiv Evergreen's FSC C125335 license, applies to all molded fiber egg cartons and filler flats produced at the Company's facilities in Macon, Georgia; City of Industry, California; Moorhead, Minnesota; and Chihuahua, Mexico. "The FSC label is a trusted mark for sustainable forestry," said Eric Wulf, Presi
Pactiv Evergreen Shareholders to Receive $18.00 Per Share in Cash Complementary products, focus on innovation and sustainability create partner of choice across the food and beverage packaging industry Customer-centric, packaging solutions provider across substrates with a North American footprint and broad distribution capabilities CHARLOTTE, N.C. and LAKE FOREST, Ill., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Novolex® and Pactiv Evergreen Inc. (NASDAQ:PTVE), announced today they have entered into a definitive agreement to combine, creating a leading manufacturer in food, beverage and specialty packaging products. The combination brings together two highly complementary businesses that will
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
LAKE FOREST, Ill., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its board of directors has approved the payment of a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on December 13, 2024 to shareholders of record at the close of business on December 2, 2024. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today's consumers. Its pro
LAKE FOREST, Ill., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Today, Pactiv Evergreen Inc. introduces an innovative packaging solution with the launch of its patented* SmartPour™ package. Made in the USA, SmartPour packaging features an easy-to-pour and resealable closure, making it the ideal container for pourable, dry ingredients like premium cereals, crackers, snacks, baking ingredients, pet food, powders or formulas, and powdered laundry or dish detergents. SmartPour containers eliminate the need for a plastic bag insert, preventing messy, bag-in-box spillage, while the resealable closure and barrier technology keeps contents fresh. With a sturdy design that maintains its shape, SmartPour is p
LAKE FOREST, Ill., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its third quarter 2024 earnings release and teleconference call. Earnings Release:Tuesday, November 12, 2024, at 6:05 a.m. EDTWebcast and Teleconference:Tuesday, November 12, 2024, at 8:30 a.m. EDTPactiv 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. Participants can also dial 877-317-6789 (
LAKE FOREST, Ill., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) ("Pactiv Evergreen" or the "Company") today announced it has completed its previously announced sale of the Pine Bluff, Arkansas, paper mill ("Pine Bluff") and Waynesville, North Carolina, extrusion facility ("Waynesville") to Suzano S.A. ("Suzano"). "The closing of this transaction marks an important milestone as we focus on our core North American converting operations," said Michael King, President and Chief Executive Officer of Pactiv Evergreen. "I want to thank the employees at Pine Bluff and Waynesville for their years of dedication and commitment to Pactiv Evergreen and to our customers. In add
LAKE FOREST, Ill., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) ("Pactiv Evergreen" or the "Company") today announced that Jon Baksht, Chief Financial Officer, will present to investors at the Jefferies Industrials Conference on September 4, 2024 at 4:15pm ET. Investors may access a live webcast of this presentation and the presentation slides on Pactiv Evergreen's website at https://investors.pactivevergreen.com/news-events/events-presentations. A replay of the webcast will be available for 90 days following the presentation. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food me
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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
LAKE FOREST, Ill., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its board of directors has approved the payment of a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on December 13, 2024 to shareholders of record at the close of business on December 2, 2024. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today's consumers. Its pro
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
LAKE FOREST, Ill., July 31, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its board of directors has approved the payment of a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on September 13, 2024 to shareholders of record at the close of business on August 30, 2024. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today's consumers. Its pro
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., May 02, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its board of directors has approved the payment of a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on June 14, 2024 to shareholders of record at the close of business on May 31, 2024. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today's consumers. Its products, ma
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
LAKE FOREST, Ill., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) today announced that its board of directors has approved the payment of a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on March 29, 2024 to shareholders of record at the close of business on March 15, 2024. About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ:PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today's consumers. Its products
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
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LAKE FOREST, Ill., July 18, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its second quarter 2024 earnings release and teleconference call. Earnings Release:Wednesday, July 31, 2024, after market closeWebcast and Teleconference:Thursday, August 1, 2024, at 8:30 a.m. EDTPactiv 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 can regi
LAKE FOREST, Ill., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen (NASDAQ:PTVE) today announced the following details for its fourth quarter 2023 earnings release and teleconference call. Earnings Release:Thursday, February 29, 2024, after market closeWebcast and Teleconference:Friday, March 1, 2024, at 8:30 a.m. EDTPactiv Evergreen Participants:Michael King, President and Chief Executive Officer Jon Baksht, Chief Financial Officer Curt Worthington, VP, Strategy and 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 can register
LAKE FOREST, Ill., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (NASDAQ:PTVE) announced today that Douglas "Doug" Owenby will join Pactiv Evergreen as Chief Operations Officer, effective September 13. Mr. Owenby will join the Pactiv Evergreen Executive Leadership Team, reporting to CEO Mike King. In this newly created, standalone role, Mr. Owenby will be responsible for all Pactiv Evergreen operating functions globally, assuming the operations leadership responsibilities that Mike Ragen, Pactiv Evergreen's Chief Financial Officer (CFO), accepted in 2018. Mr. Owenby joins Pactiv Evergreen from Graham Packaging where he has served as Chief Operations Officer since 2018. Prior to
LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Evergreen Inc. (NASDAQ: PTVE) announced today that John McGrath has elected to retire as CEO of the company and has been succeeded by Michael King. Mr. King is a current member of Pactiv Evergreen’s Board and has been serving since 2018 as CEO of Graham Packaging Company. Prior to joining Graham Packaging, Mike held senior leadership positions at FRAM Group, TI Automotive, Lear Corporation and Huhtamaki. He holds multiple Plastics Engineering degrees from Ferris State University and an MBA from Louisiana State University. Mr. McGrath thanked the Board and extended his congratulations to Mr. King. “It has been an absolute honor and a priv
UBS downgraded Pactiv Evergreen from Buy to Neutral and set a new price target of $18.00
Jefferies downgraded Pactiv Evergreen from Buy to Hold and set a new price target of $18.00 from $15.00 previously
Citigroup downgraded Pactiv Evergreen from Buy to Neutral and set a new price target of $18.00 from $13.00 previously
Jefferies initiated coverage of Pactiv Evergreen with a rating of Buy and set a new price target of $18.00
UBS initiated coverage of Pactiv Evergreen with a rating of Buy and set a new price target of $19.00
Citigroup upgraded Pactiv Evergreen from Neutral to Buy and set a new price target of $16.00 from $10.00 previously
BofA Securities upgraded Pactiv Evergreen from Neutral to Buy and set a new price target of $16.00 from $14.00 previously
Citigroup downgraded Pactiv Evergreen from Buy to Neutral and set a new price target of $10.00 from $12.00 previously
RBC Capital Mkts upgraded Pactiv Evergreen from Sector Perform to Outperform and set a new price target of $13.00 from $9.00 previously
BofA Securities downgraded Pactiv Evergreen from Buy to Neutral and set a new price target of $13.00