Berry Global Reports Increased Net Income and Improved Financial Performance for Quarter Ended March 29, 2025

Berry Global Group, Inc. reported a significant increase in financial performance for the quarter ended March 29, 2025, with net income rising to $193 million, compared to $116 million in the same quarter of the previous year. For the two quarters ended March 29, 2025, net income reached $207 million, up from $175 million year-over-year. The company also experienced a notable improvement in comprehensive income, which surged to $271 million from $64 million in the prior year quarter, driven by favorable currency translation and a gain from the divestiture of its Specialty Tapes business.

The company’s total net sales for the quarter were $2.52 billion, slightly up from $2.52 billion in the same quarter last year. The increase in sales was attributed to a combination of higher selling prices and a 2% organic volume growth, although this was partially offset by a $62 million decline in sales due to divestitures. Operating income for the quarter also improved significantly to $391 million, compared to $182 million in the prior year quarter, largely due to a $175 million gain from the sale of the Tapes business and a reduction in business integration expenses.

Berry Global has undergone strategic changes, including the completion of the spin-off of its Health, Hygiene & Specialties Global Nonwovens and Films business, which was finalized on November 4, 2024. This spin-off has restructured the company into three reportable segments: Consumer Packaging International, Consumer Packaging North America, and Flexibles. The company also made two acquisitions in the past year, acquiring CMG Plastics for $48 million and F&S Tool Inc. for $68 million, both aimed at enhancing its capabilities in the Consumer Packaging North America segment.

Operationally, Berry Global reported a total employee headcount of approximately 20,000 as of March 29, 2025. The company’s cash and cash equivalents stood at $483 million, down from $865 million at the end of the previous fiscal year, reflecting increased cash usage in operations and investments. The company’s long-term debt decreased to $5.44 billion from $7.51 billion, indicating a focus on reducing leverage following the divestiture of non-core assets.

Looking ahead, Berry Global anticipates continued challenges from macroeconomic conditions, including inflation and supply chain disruptions. However, the company remains optimistic about its long-term fundamentals, supported by its diverse geographic and market presence. The management emphasized its commitment to improving manufacturing productivity and adapting to customer volume changes, which are expected to drive future growth despite current economic headwinds.