Net Sales Dip 7% for Berry Global in 2019 Fiscal Third Quarter
Net sales in Berry’s Engineered Materials segment decreased by $48 million to $639 million, compared to the 2018 third fiscal quarter.
Berry Global Group, Inc. recently reported net sales of $1.9 billion its third fiscal quarter 2019, a decrease of 7% compared to the corresponding 2018 quarter. The net sales decrease of $135 million from the prior year quarter is reportedly primarily attributed to an organic sales decrease of $158 million and a $16 million unfavorable impact from foreign currency changes, partially offset by acquisition net sales of $38 million. The organic sales decrease is primarily attributed to decreased selling prices of $94 million, due to the pass through of lower resin costs, and a 3% base volume decline.
“We completed our acquisition of RPC and are excited to welcome the new employees in this truly transformational combination,” said Tom Salmon, chairman and CEO. “We are eager to move forward together as a global plastic and recycled packaging industry leader with the industry’s most diversified and expansive manufacturing footprint.