Berry Global Raises Guidance on Strong Fiscal Second Quarter Results
Net sales growth is primarily attributed to increased selling prices due to the pass through of higher resin costs, organic volume growth, and favorable impact from foreign currency changes.
Berry Global Group, Inc. recently reported its second fiscal quarter 2021 results, including a 13% increase in net sales, to $3.4 billion, compared to the 2020 second fiscal quarter. The net sales growth is primarily attributed to increased selling prices of $192 million due to the pass through of higher resin costs, organic volume growth of 5%, and a $92 million favorable impact from foreign currency changes.
These increases were partially offset by prior quarter divestiture sales of $53 million. The organic volume growth was primarily due to organic growth investments, modest recovery of certain markets that had previously been facing COVID-19 headwinds, and higher demand in the company's advantaged health and hygiene products as the result of COVID-19.