02.02.23
Berry Global reported net sales of $3.06 billion in the first quarter of 2023, down from $3.57 billion in the first quarter of 2022. The net sales decline is primarily attributed to a 6% volume decline, decreased selling prices of 4% and a 3% unfavorable impact from foreign currency changes. The volume decline is primarily attributed to general market softness and customer destocking as supply chains normalize.
Net sales in the Health, Hygiene, & Specialties segment were $663 million in the first quarter of 2023, down from $818 million in the first quarter of 2022. The net sales decline is primarily attributed to decreased selling prices of $72 million, an 8% volume decline, and an $18 million unfavorable impact from foreign currency changes. The volume decline is primarily attributed to general market softness in specialties markets and customer destocking as supply chains normalize.
Net sales in the Health, Hygiene, & Specialties segment were $663 million in the first quarter of 2023, down from $818 million in the first quarter of 2022. The net sales decline is primarily attributed to decreased selling prices of $72 million, an 8% volume decline, and an $18 million unfavorable impact from foreign currency changes. The volume decline is primarily attributed to general market softness in specialties markets and customer destocking as supply chains normalize.