Berry Global Tops Sales Record in First Fiscal 2020 Quarter
Berry Global’s net sales jumped 43% to more than $2.8 billion for fiscal 2020 first quarter, due primarily to continued strong performance in the Consumer Packaging-North America segment, as well as the RPC acquisition.
Berry Global Group, Inc. recently reported its fiscal first quarter 2020 results (i.e., the December 2019 quarter). Net sales jumped 43% to more than $2.8 billion for the quarter, due primarily to continued strong performance in the Consumer Packaging-North America segment, as well as the RPC acquisition.
“During the quarter we achieved record net sales and operating EBITDA for any December quarterly period in the company’s history,” said Tom Salmon, chairman and CEO. “Overall, our results and organic growth progression were consistent with our expectations. I am pleased by the continued performance of our North American Consumer Packaging division, delivering its seventh consecutive quarter of positive organic volume growth, recording 3% volume growth in this December quarter. Additionally, both our Health, Hygiene & Specialties and Engineered Materials divisions reported sequential volume improvement as expected. Our Consumer Packaging International segment has gotten off to a solid start, with cost synergy realization on plan and commercial activities to drive long-term growth, well under way. The integration of RPC continues to move forward and our synergy targets remain on track.