US' Berry posts $2.5 bn in Q2 sales, driven by volume growth
American manufacturer of packaging solutions Berry has generated net sales of $2.5 billion in the second quarter (Q2) of 2025. The change is primarily attributed to increased selling prices of $50 million due to the pass through of higher polymer costs, and 2 per cent organic volume growth, offset by net sales attributed to divestitures of $62 million.
The operating income of the company increased primarily due to a $7 million favourable impact from volume increases, a $41 million decline in business integration expenses, and $175 million gain from the divestiture of the Tapes business, partially offset by loss income from the divested business, Berry said in a press release.
Berry has reported net sales of $2.5 billion in Q2 FY25, driven by higher selling prices and 2 per cent organic volume growth, partly offset by divestitures. Operating income rose due to cost savings and a $175 million gain from the Tapes business sale. All segments saw volume growth. CEO highlighted strategic moves, including the Amcor merger, to enhance innovation and sustainability leadership.
In the consumer packaging—international net sales remained steady at $970 million, with increased selling prices of $32 million driven by higher raw material costs and 1 per cent organic volume growth. These gains were offset by a $20 million decline from divestitures and a 2 per cent negative impact from currency fluctuations. Operating income rose due to a $9 million favourable price-cost spread and a $58 million reduction in business integration expenses.
Meanwhile, North America net sales for the above segment grew by 5 per cent to $789 million, supported by 2 per cent organic volume growth and a $9 million increase in selling prices. However, operating income declined, primarily due to an unfavourable price-cost spread, partially offset by the benefits of organic volume growth.
In the Flexibles segment, net sales declined by 5 per cent to $761 million, primarily due to a $58 million reduction following the divestiture of the Tapes business. This decline was partially offset by a $9 million increase in selling prices and 2 per cent organic volume growth. Operating income rose mainly due to a $175 million gain from the divestiture, despite the loss of income from the divested business, added the release.
'Berry delivered a solid second quarter result aligned with the expectations we set. All three of our segments, once again, delivered positive volumes, driving 2 per cent overall organic volume growth in the quarter. I am extremely proud of our teams and their focus on delivering these results while managing several strategic portfolio activities, including the sale of our Tapes business and the pending merger with Amcor,' said Kevin Kwilinski, Berry's chief executive officer (CEO).
'Together, we will be among the global leaders in consumer and healthcare packaging solutions with the combined material science and innovation capabilities required to revolutionise product development and better solve customers' needs and consumers' sustainability aspirations,' added Kwilinski.
Fibre2Fashion News Desk (SG)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
38 minutes ago
- Mint
The importance of repetition in the workplace
If you had to define the indispensable power of a leader, which would you pick? Would it be probing intelligence? Boundless energy? Or perhaps just being lucky? One ability may not come to mind for many, but really should. For if there is a talent that every boss needs to master, it's the ability to say the same thing over and over and over again without seeming bored. You don't have to spend a lot of time with executives to hear repeated words and phrases. They might be drumming home the critical elements of their strategy to investors. They might be reciting talking-points with the media. They might be inculcating the company's culture at town halls with employees, or telling the firm's origin story for the thousandth time. What they are not doing is starting afresh every time. When Kevin Lobo first became the chief executive of Stryker, a medical-technology firm in Michigan, his team drew up a mission statement ('Together with our customers, we are driven to make health care better") that he used at the start of every presentation he gave. He says that the combination of simplicity and repetition helped it to spread organically: presentations within Stryker now routinely start with its mission. Anyone who takes on a leadership role at Novo Nordisk, the Danish pharma firm behind Wegovy, a weight-loss jab, will head to Copenhagen to hear Lars Fruergaard Jorgensen, the ceo, give a talk about the firm's enduring values. If Amazon's culture is coupled to certain ideas, such as its 'day one", never-settle, mentality, it's largely because of repetition. The firm always reattaches its first shareholder letter, where the term is prominent, to its most recent one, for instance. Likewise, if you associate JPMorgan Chase with a 'fortress balance-sheet", it's probably because Jamie Dimon, the bank's boss, has been saying it for 20 years straight. Repetition is partly a function of time constraints: in the same way that many politicians have a stump speech they can give at every rally, most bosses are too busy to craft their messages from scratch every time. But mainly it's to do with the way that people remember things and absorb ideas. Repetition makes things stick, as every schoolchild knows. That's true in offices and beyond. David Gergen, a doyen of American political communications, advised candidates in debates to pick the three or four points they wanted to drive home. Songwriters do something similar. One analysis, by Joseph Nunes of the University of Southern California and his co-authors, found that songs with more repetitive lyrics were more likely to make it into the top 40 singles chart in America. Another study, by Emilia Parada-Cabaleiro and Maximilian Mayerl of Nuremberg University of Music and their co-authors, concluded that lyrics have become simpler and more repetitive over the past five decades. If it works for Fatboy Slim, why not the senior leadership team? Repetition helps persuade people that something is correct, a phenomenon known as the illusory truth effect. In various studies, people have been given a list of plausible statements (the capybara is the largest of the marsupials, for example, or this column is the best one in The Economist), whose veracity they are asked to judge. They are then shown more statements, some new and some repeated. The more times someone is exposed to a statement (this column is the best one in The Economist), the more likely they are to say it is true. Repetition is harder on speakers than listeners. It takes time for anyone to realise that they are hearing the same thing over and over. Workers are in any case likely to be forgiving. In a recent paper, Francis Flynn and Chelsea Lide of Stanford University looked at the comments people made about leaders in an archive of 360-degree assessments. Less than a quarter of leaders were judged to have got communication right. The miscreants were nearly ten times more likely to be criticised for under-communicating than over-communicating. Repetition may even be a positive sign for employees. In autocratic organisations, bosses may rely on fear to make people attentive. In more decentralised firms, managers need to find other, more subtle ways to guide behaviour. The burden falls more heavily on the repeaters. But if Mr Lobo has had enough of reciting his mission statement or Mr Dimon is fed up of the word 'fortress", you would not know it. There is more to leadership than repetition. But it is still a singular part of the job. Subscribers to The Economist can sign up to our new Opinion newsletter, which brings together the best of our leaders, columns, guest essays and reader correspondence.
Time of India
an hour ago
- Time of India
Iranians react to new Trump travel ban as tensions are high between nations
People walk past a state-sponsored anti-US mural painted on the wall of the former US Embassy in Tehran (Image credit: AP) Iranians again face a US travel ban imposed by President Donald Trump , with the decision drawing anger, frustration and some shrugs given the decades of tensions between the countries. Trump imposed a similar ban during his first term before withdrawing America unilaterally from Tehran's 2015 nuclear deal with world powers, under which Iran drastically limited its program in exchange for the lifting of economic sanctions. But when he returned to the White House and began seeking a new deal with Iran, it saw the country's rial currency improve and stocks rise, but worries have grown as its government appears poised to reject an initial American proposal. The travel ban has further darkened that mood and led Iranians to fear Trump will lump the nations' 80 million people alongside of its theocratic government even after he's repeatedly praised them while seeking a deal. "Now I understand that Trump is against all Iranians, and his attitude is not limited to the government," said Asghar Nejati, a 31-year-old man working in a Tehran pharmacy. Even in the years after the 1979 Islamic Revolution and subsequent US Embassy hostage crisis, Iranian students traveled to the US to attend universities. Between 2018 to 2024, an average of around 10,000 Iranian students went to the US annually. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Estimates suggest some 1 million Iranian-origin people live in the US today. Mehrnoush Alipour, a 37-year-old graphic designer, said the nations could have better relations if they could spoke to each other in softer tones. "This is another foolish decision. Trump cannot reach his goals by imposing pressures on ordinary Iranians," she said. "The two nations can have better relation through openings, not restrictions." Bank teller Mahdieh Naderi said Trump was lashing out over his frustrationed efforts to reach ceasefires in the Israel-Hamas war and the Russia-Ukraine war. "Trump just expressed his anger about his failed plans," Naderi said. "He is complaining about the Chinese and others who are living in the US, too." Some said interest in the US was already waning before the latest ban. "Over the past years, two of my grandchildren went to Canada to continue their education there," said Mohammad Ali Niaraki, 75. "Iranians are not limited in immigration and they are not as interested to go to the US as they were decades ago. Iranians prefer Canada, as well as neighbouring countries with flourishing economies like the (United Arab) Emirates." But others pointed out that high-ranking government officials have children living or working in the US, despite the tensions. "It's fine, but if he also kicks out the children of officials who live there it would be very nice," said a man who just gave his name as Mehdi. "We can't afford traveling to the US, almost 80 per cent of us can't. But if he kicks out those who are already there it would be much better." Tehran resident Mehri Soltani offered rare support for Trump's decision. "Those who have family members in the US, it's their right to go, but a bunch of bad people and terrorists and murderers want to go there as well," he said. "So his policy is correct. He's doing the right thing."
Time of India
an hour ago
- Time of India
Dubai billionaire Hassan Sajwani says Elon Musk is 100% right; ‘I am old enough to remember….'
Dubai billionaire Hassan Sajwani has publicly backed Tesla CEO Elon Musk in the ongoing feud with Trump. In a post on microblogging platform X (formerly Twitter), Sajwani wrote 'Elon Musk is 100% right, without him President Trump would have lost the elections.' The comment comes after Musk, who was a close ally of the US President before stepping down from his advisory role last month, claimed that Trump wouldn't have won the 2024 election without his support. The relationship between the tech billionaire and the President has taken a u-turn after Musk openly criticized the Trump administration's 'One Big Beautiful Bill'. Tensions between the two escalated last night when Trump said 'he is disappointed with Musk' adding he is not sure if they will share a 'good relationship' anymore. Musk retaliated claiming that without his support Trump may not have won the 2024 election. What Hassan Sajwani said about Musk-Trump feud In his X post, Sajwani wrote: 'Elon Musk is 100% right, without him President Trump would have lost the elections. I am old enough to remember how Elon positively influenced people's opinion about Trump.' Who is Hassan Sajwani For those unaware, Hassan Sajwani is the founder and chairman of DAMAC Properties . He has emerged as a significant figure in recent headlines following his announced $20 billion investment in the US data centers, a move heralded by President Donald Trump . This substantial financial commitment not only underscores the growing importance of data infrastructure for technologies like AI but also further cements Sajwani's long-standing ties with the prominent American businessman. What Trump said about Elon Musk Addressing the media yesterday in the Oval office, Trump said 'I'm very disappointed with Elon. I've helped him a lot. He knew the inner workings of the bill better than anybody sitting here. He had no problem with it. All of a sudden he had a problem & he only developed the problem when he found out we're going to cut EV mandate'. During the press briefing, Trump said 'Look, Elon and I had a great relationship. I don't know if we will anymore. I was surprised'. OnePlus Pad 3 Unboxing and first look: What's in the box? AI Masterclass for Students. Upskill Young Ones Today!– Join Now
