Sales Dip for Berry Global in 2019 Fiscal Second Quarter
Net sales in Berry Global’s Engineered Materials segment decreased by $27 million (4%) from the 2018 quarter to $628 million.
Berry Global Group, Inc. recently reported its second fiscal quarter 2019 results (the March 2019 quarter). Net sales of $1.5 billion represented a $17 million decrease (1%) from the 2018 quarter, primarily due to an organic sales decrease of $72 million and a $22 million unfavorable impact from foreign currency changes, partially offset by acquisition net sales of $77 million. The company reports that the organic sales decrease is primarily attributed to a 3% percent base volume decline and decreased selling price of $5 million
Net sales in the Engineered Materials segment decreased by $27 million (4%) from the 2018 quarter to $628 million, primarily due to an organic sales decline of $62 million, partially offset by acquisition net sales of $36 million. The organic sales decline is primarily attributed to a 7% volume decrease due to customer destocking and supply disruption related to material qualifications and decreased selling prices of $18 million.