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The company reported net sales of $1.95 billion in the quarter.
May 6, 2019
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
Berry Global Group, Inc. reported its second fiscal quarter 2019 results, referred to in the following as the March 2019 quarter. The company reported net sales of $1.95 billion in the quarter, with operating income of $185 million in the quarter and operating EBITDA up 1% to $354 million. Consumer Packaging sales grew 6% in the quarter. Cash flow from operations was up 29% to $170 million in the quarter, and Berry reaffirmed fiscal 2019 free cash flow guidance of $670 million. “We generated record operating EBITDA for any March quarterly period of $354 million,” Tom Salmon, chairman and CEO of Berry, said. “Our adjusted net income per diluted share was in line with the prior year quarter at $0.84 and we reported a significant improvement in free cash flow.”
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