Berry Global Group sees steady annual profit
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Evansville-based Berry Global Group Inc. (NYSE: BERY) is reporting fiscal full-year net income of $766 million, compared to $733 million the previous year. Berry CEO Tom Salmon says the company took proactive pricing actions and cost reduction efforts to combat inflation and deliver positive results.
“Our businesses delivered fiscal year record results, including 10% revenue growth and 7% adjusted earnings per share growth, coming off of another record year in fiscal 2021,” said Salmon. “As we navigate through fiscal 2023, we will continue our efforts on inflation recovery while taking the necessary actions to drive cost benefits through automation and asset optimization across our global footprint.”
The company is also reporting fiscal fourth quarter net income of $233 million, up slightly from $228 million during the same period last year.
“In both the near- and long-term, we remain focused on driving consistent, dependable, and sustainable growth, supported by our robust free cash flow and accompanied by our large-scale and diverse portfolio,” said Salmon. “Innovation and sustainability are increasingly embedded in everything we do and we continue to believe this represents a great opportunity for both growth and differentiation.”
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