08.09.16
For the third fiscal quarter of 2016, Berry Plastics recorded net sales of $1.6 billion compared to $1.2 billion in the same prior year period. The year-over-year increase was primarily attributed to net sales from the acquisition of Avintiv partially offset by a $31 million decline in selling prices, a decrease in base volumes and a $4 million negative impact from foreign currency changes.
Avintiv is contained within Berry’s health, hygiene and specialties division, which posted net sales of $567 million in the quarter.
"The third fiscal quarter was another strong performance period for Berry during which we achieved record net sales for any quarterly period while Operating EBITDA surpassed any June ending quarter in the Company’s history. I am pleased to report that Operating EBITDA margins also increased by 160 basis points to 19.2% in the current quarter. Additionally we generated solid adjusted free cash flow in the quarter of $151 million bringing our adjusted free cash flow for the last four quarters to $475 million,” said Jon Rich, chairman and CEO of Berry Plastics.
Avintiv is contained within Berry’s health, hygiene and specialties division, which posted net sales of $567 million in the quarter.
"The third fiscal quarter was another strong performance period for Berry during which we achieved record net sales for any quarterly period while Operating EBITDA surpassed any June ending quarter in the Company’s history. I am pleased to report that Operating EBITDA margins also increased by 160 basis points to 19.2% in the current quarter. Additionally we generated solid adjusted free cash flow in the quarter of $151 million bringing our adjusted free cash flow for the last four quarters to $475 million,” said Jon Rich, chairman and CEO of Berry Plastics.