Evansville-based Berry Global Group Inc. (NYSE: BERY) is reporting fiscal full-year net income of $559 million, up from $404 million in 2019. Chief Executive Officer Tom Salmon says 2020 was a great year for Berry with the financial results exceeding expectations.
Berry says fiscal year net sales totaled $11.7 billion, a 2% increase in organic volume growth. Operating income for the year was also up 21% to $1.2 billion.
“Our key strategic priorities for fiscal 2020 were to generate profitable organic growth, integrate the business acquired with RPC, and further strengthen our balance sheet,” stated Salmon. “I am pleased to report success in all three strategic priorities. In the face of significant adversity and complexity across the globe, our business continued to demonstrate our financial and operational stability throughout the year.”
The company is also reporting fourth quarter net income of $195 million, down from $229 million during the same period last year.
“We enter fiscal 2021 with confidence in our ability to grow organically as we have demonstrated this past year,” said Salmon. “I believe we are well positioned to see long-term, predictable, and sustainable growth with customer-linked capital investments that target continued expansion into both faster growing end markets and developing emerging markets.”
You can connect to the full quarterly and full-year earnings report by clicking here.