Berry Global Reports 3Q 2019 Results

Berry Global Group, Inc. reported its third fiscal quarter 2019 results, referred to as the June 2019 quarter. The company reported net sales of $1.94 billion in the quarter, with operating income of $215 million and operating EBITDA of $348 million in the quarter. Cash flow from operations was $240 million in the quarter, and free cash flow was $136 million in the quarter. Fiscal year 2020 free cash flow guidance is $800 million.
 
In the third quarter of 2019, Berry Global completed the acquisition of RPC Group Plc. Consumer Packaging volume growth was up 3% in the quarter.
 
“We completed our acquisition of RPC and are excited to welcome the new employees in this truly transformational combination. We are eager to move forward together as a global plastic and recycled packaging industry leader with the industry’s most diversified and expansive manufacturing footprint,” said Tom Salmon, chairman and CEO.
 
“We continued to see strong volume growth of 3% in the quarter in our Consumer Packaging division along with contributions from our Laddawn acquisition, which were more than offset by base volume weakness in our Engineered Materials and Health, Hygiene, & Specialties divisions,” Salmon added.