Berry Global Group, Inc. Reports Solid First Quarter 2020 Results; Reaffirms Fiscal Year 2020 Free Cash Flow Guidance
Berry Global Group, Inc. (BERY)
Last berry global group, inc. earnings: 5/1 07:30 am
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ir.berryglobal.com
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Source: Business Wire
EVANSVILLE, Ind.--(BUSINESS WIRE)--Berry Global Group, Inc. (NYSE:BERY) today reported its first quarter 2020 results, referred to in the following as the December 2019 quarter.First Quarter Highlights(all comparisons made to the December 2018 quarter)Net sales up 43 percent to over $2.8 billionOperating income up 13 percent to $199 millionOperating EBITDA up 36 percent to $451 millionNet income per diluted share of $0.35 and adjusted net income per diluted share of $0.56Volume progression on track; Consumer Packaging-North America +3 percent in the quarterRPC Group Plc (“RPC”) integration progressing on plan; synergy target remains on trackReaffirmed fiscal year 2020 cash flow from operations and free cash flow guidance of $1.4 billion and $800 million, respectivelyBerry’s Chairman and CEO, Tom Salmon said, “During the quarter we achieved record net sales and operating EBITDA for any December quarterly period in the Company’s history. Overall, our results and organic growth progr
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