05.06.19
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.”
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.”