Berry Global Achieves Record Net Sales in its 2020 Fiscal Second Quarter
Berry Global’s 53% increase in net sales compared to the 2019 quarter is primarily attributed to acquisition net sales of over $1 billion and a base volume increase of 2%.
Berry Global Group, Inc. recently reported its second quarter 2020 results, including overall net sales of almost $3 billion. The 53% increase in net sales compared to the prior year quarter is primarily attributed to acquisition net sales of over $1 billion and a base volume increase of 2%. These increases were partially offset by lower selling prices of $148 million (due to the pass through of lower resin costs) and prior quarter divestiture sales of $24 million.
“While there are unprecedented uncertainties impacting the global economy right now, we are fortunate to have an extremely diverse portfolio of products, both geographically and by end market, which will further demonstrate our proven track record of stability as we progress through the back half of fiscal 2020,” said Tom Salmon, chairman and CEO. “The long-term fundamentals of the business have strengthened and we remain focused on our top three financial objectives of improving our strong balance sheet, organically growing our businesses, and integrating the RPC acquisition as demonstrated in this recently completed quarter.