05.04.18
Berry Global Group, Inc. reported results for its second fiscal 2018 quarter, referred to in the following as the March 2018 quarter.
Net income per diluted share increased 22% to $0.66 compared to 2Q 2017. Adjusted net income per diluted share up 12% to $0.84. Net sales increased 9% to $2.0 billion in 2Q 2017, while operating income increased by 7% to $188 million. Operating EBITDA was $350 million, an increase of 4%.
The company reaffirmed guidance for fiscal year 2018 cash flow from operations of $1,007 million and adjusted free cash flow of $630 million.
“I am proud to report we had March quarterly records for net sales, operating EBITDA, and adjusted earnings per share of $1 billion $967 million, $350 million and $0.84, respectively,” said Tom Salmon, chairman and CEO of Berry.
Berry’s cash flow from operating activities was $132 million and $927 million for the quarter and last four quarters ended March 2018, respectively. The company’s adjusted free cash flow for the quarter and last four quarters ended March 2018 was $42 million and $526 million, respectively. Total debt less cash and cash equivalents at the end of the March 2018 quarter was $5,735 million. Adjusted EBITDA for the four quarters ended March 31, 2018 was $1,464 million.
Net income per diluted share increased 22% to $0.66 compared to 2Q 2017. Adjusted net income per diluted share up 12% to $0.84. Net sales increased 9% to $2.0 billion in 2Q 2017, while operating income increased by 7% to $188 million. Operating EBITDA was $350 million, an increase of 4%.
The company reaffirmed guidance for fiscal year 2018 cash flow from operations of $1,007 million and adjusted free cash flow of $630 million.
“I am proud to report we had March quarterly records for net sales, operating EBITDA, and adjusted earnings per share of $1 billion $967 million, $350 million and $0.84, respectively,” said Tom Salmon, chairman and CEO of Berry.
Berry’s cash flow from operating activities was $132 million and $927 million for the quarter and last four quarters ended March 2018, respectively. The company’s adjusted free cash flow for the quarter and last four quarters ended March 2018 was $42 million and $526 million, respectively. Total debt less cash and cash equivalents at the end of the March 2018 quarter was $5,735 million. Adjusted EBITDA for the four quarters ended March 31, 2018 was $1,464 million.
