RPC Acquisition Helps Boost Berry Global’s Net Sales in Fiscal 2019
Berry Global’s full year fiscal 2019 net sales increased by 13% to $8.9 billion.
Berry Global Group, Inc. recently reported its fourth quarter and fiscal year 2019 results. A 47% net sales increase of $965 million, to approximately $3 billion, in the fiscal fourth quarter was primarily attributed to acquisition net sales of $1.2 billion partially offset by decreased selling prices due to the contractual pass through of lower resin costs of $156 million and lower base volumes of 2%. According to the company, the quarter included continued volume growth in the Consumer Packaging-North America segment offset by lower base volumes in both the Health, Hygiene & Specialties and Engineered Materials segments, with both improving sequentially, as expected.
Berry Global’s full year fiscal 2019 net sales increased by 13% to $8.9 billion. The net sales growth was primarily attributed to acquisition net sales of almost $1.5 billion, partially offset by prior period divestiture sales of $20 million, a $48 million unfavorable impact from foreign currency changes, lower selling prices of $175 million due to the pass through of lower resin costs, a 1% decline as the result of a customer product transition, and a 2% base volume decline.