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Berry Reports Record Quarterly Sales

Net sales up 50% to $2.9 billion

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Berry Global’s June 2020 quarter net sales were up 50% to $2.9 billion. The net sales growth is primarily attributed to acquisition net sales of $1.092 billion and a base volume increase of 2%. These increases were partially offset by lower selling prices of $99 million due to the pass through of lower resin costs, a $19 million unfavorable impact from foreign currency changes and Prior Quarter divestiture sales of $34 million.

Health, Hygiene & Specialties segment sales were $608 million in the quarter. The net sales growth in this segment is primarily attributed to base volume growth of 14%, partially offset by lower selling prices of $24 million due to the pass through of lower resin costs, a $19 million unfavorable impact from foreign currency changes, and Prior Quarter sales of $34 million related to the divested Seal for Life (“SFL”) business.

Berry’s chairman and CEO Tom Salmon comments, “Through our employees’ relentless effort and dedication, along with our diverse, stable portfolio, we were able to deliver record earnings for any quarter in the company’s history. We have made progress and remain focused on our top three financial objectives of improving our strong balance sheet, organically growing our businesses, and integrating the RPC acquisition as demonstrated in this recently completed quarter.”

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