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Berry Reports Quarterly Results

Clopay acquisition boosts net sales

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

In the December 2018 quarter, Berry Global’s net sales increase of $196 million from prior year quarter is primarily attributed to acquisition net sales of $158 million and organic sales growth of $49 million, partially offset by an $11 million unfavorable impact from foreign currency changes. The organic sales growth is primarily attributed to increased selling prices of $82 million due to the pass through of higher cost of goods sold, partially offset by a 2% volume decline.

Net sales in the Health, Hygiene & Specialties segment increased by $125 million from prior year quarter primarily attributed to Clopay acquisition net sales of $123 million and organic sales growth of $12 million, partially offset by a $10 million unfavorable impact from foreign currency changes. The organic sales growth is primarily attributed to increased selling prices of $39 million due to the pass through of higher cost of goods sold, partially offset by a 5% volume decline as a result of general market softness in hygiene and specialties.

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