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Berry Global Reports Q4 and Fiscal Year 2022 Results

Health, Hygiene, & Specialties net sales down 6% in the quarter

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

In the September 2022 quarter, Berry Global’s net sales of $3.4 billion were flat as a 2% organic volume decline was partially offset by increased selling prices of 2% due to the pass through of inflation. In the Health, Hygiene, & Specialties segment, net sales of $738 million were down by 6% as a result of the pass through of lower selling prices.

In the fiscal year, Berry’s net sales were $14.5 billion, up from $13.9 billion. The growth is primarily attributed to increased selling prices of $1,650 million due to the pass through of inflation, partially offset by a $420 million unfavorable impact from foreign currency, a 2% organic volume decline, a $131 million decrease from extra shipping days in fiscal 2021, and fiscal 2021 divestiture sales of $118 million.

In the Health, Hygiene, & Specialties segment, net sales growth is primarily attributed to increased selling prices of $180 million due to the pass through of inflation, partially offset by a 3% organic volume decline, a $49 million unfavorable impact from foreign currency, and a $42 million decrease from extra shipping days in fiscal 2021. The volume decline is primarily attributed to the moderation of advantaged products related to the Covid-19 pandemic.

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