02.05.21
Berry Global’s first fiscal quarter 2021 net sales were $3.1 billion, up from $2.8 billion in the first fiscal quarter of 2020.
Berry’s chairman and CEO Tom Salmon says, “Berry’s fiscal 2021 is off to an exceptional start with record first quarter financial results exceeding our expectations. Consumer demand for our products remains consistent and certain markets which previously experienced Covid-19 headwinds are rebounding quicker than we expected. All segments delivered strong volume growth, collectively finishing the quarter with 7% organic volume growth, while operating EBITDA increased 20% in the quarter. The organically driven outperformance in this first fiscal quarter gives us confidence to raise our fiscal year 2021 outlooks for both operating EBITDA and organic volume growth.”
Net sales in the Health, Hygiene & Specialties segment were $740 million in the quarter, compared to $610 million in the same period a year ago. The net sales growth in the Health, Hygiene & Specialties segment is primarily attributed to organic volume growth of 15%, increased selling prices of $7 million and a $36 million benefit from extra shipping days in the quarter. The organic volume growth was primarily due to growth investments and higher demand in Berry’s advantaged health and hygiene products as the result of Covid-19.
Berry’s chairman and CEO Tom Salmon says, “Berry’s fiscal 2021 is off to an exceptional start with record first quarter financial results exceeding our expectations. Consumer demand for our products remains consistent and certain markets which previously experienced Covid-19 headwinds are rebounding quicker than we expected. All segments delivered strong volume growth, collectively finishing the quarter with 7% organic volume growth, while operating EBITDA increased 20% in the quarter. The organically driven outperformance in this first fiscal quarter gives us confidence to raise our fiscal year 2021 outlooks for both operating EBITDA and organic volume growth.”
Net sales in the Health, Hygiene & Specialties segment were $740 million in the quarter, compared to $610 million in the same period a year ago. The net sales growth in the Health, Hygiene & Specialties segment is primarily attributed to organic volume growth of 15%, increased selling prices of $7 million and a $36 million benefit from extra shipping days in the quarter. The organic volume growth was primarily due to growth investments and higher demand in Berry’s advantaged health and hygiene products as the result of Covid-19.
