05.04.21
Berry Global reported its second fiscal quarter 2021 results, referred to in the following as the March 2021 quarter. Net sales of $3.4 billion, represented a 13% increase. The net sales growth is primarily attributed to increased selling prices of $192 million due to the pass through of higher resin costs, organic volume growth of 5%, and a $92 million favorable impact from foreign currency changes. These increases were partially offset by prior quarter divestiture sales of $53 million. The organic volume growth was primarily due to organic growth investments, modest recovery of certain markets that had previously been facing Covid-19 headwinds, and higher demand in its advantaged health and hygiene products as the result of Covid-19.
Berry’s Health, Hygiene & Specialties segment reported sales of $781 million in the March 2021 quarter compared to $644 million in the March 2020 quarter. The net sales growth in the segment is primarily attributed to organic volume growth of 8%, and increased selling prices of $83 million due to the pass through of higher resin costs. The organic volume growth was primarily due to organic growth investments and higher demand in its advantaged health and hygiene products as the result of Covid-19.
Berry’s Health, Hygiene & Specialties segment reported sales of $781 million in the March 2021 quarter compared to $644 million in the March 2020 quarter. The net sales growth in the segment is primarily attributed to organic volume growth of 8%, and increased selling prices of $83 million due to the pass through of higher resin costs. The organic volume growth was primarily due to organic growth investments and higher demand in its advantaged health and hygiene products as the result of Covid-19.
