{"id":1371,"date":"2024-08-05T04:15:25","date_gmt":"2024-08-05T08:15:25","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=1371"},"modified":"2024-08-05T04:15:25","modified_gmt":"2024-08-05T08:15:25","slug":"berry-global-reports-2-decline-in-net-sales-in-q3-fy24","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=1371","title":{"rendered":"Berry Global reports 2% decline in net sales in Q3 FY24"},"content":{"rendered":"


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Berry Global has more than 40,000 global employees across over 250 locations. Credit: T. Schneider via Shutterstock. <\/figcaption><\/figure>\n<\/p><\/div>\n

Berry Global<\/a>, a plastic packaging manufacturer, has reported net sales of $3.16bn in the third quarter (Q3) of financial year 2024 (FY24), down by 2% from the $3.22bn reported in Q3 FY23.\u00a0\u00a0\u00a0<\/p>\n

This downturn was primarily due to the pass-through of lower resin prices, which negatively impacted sales by 3%.\u00a0<\/p>\n

Despite the decrease in net sales, Berry Global\u2019s operating income\u00a0rose by 13% to $303m, compared to $267m in the third quarter of FY23.<\/p>\n

This growth was largely driven by organic volume growth and a positive price-cost spread, a result of the company\u2019s cost reduction initiatives.\u00a0<\/p>\n

Its earnings per diluted share for the quarter was $1.65 compared to $1.18 in Q3 FY23.\u00a0<\/p>\n

Net sales for the company\u2019s Consumer Packaging International segment experienced a 7% decrease in net sales, totalling $959m.\u00a0<\/p>\n

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