Berry Plastics beat estimates in Q1

|About: Berry Plastics Group, Inc. (BERY)|By:, SA News Editor

Berry Plastics (NYSE:BERY) reports organic sales growth of 3% in Q1.

Consumer Packaging net sales grew 9% to $601M.

Health, Hygiene, & Specialties net sales increased 22% to $702M.

Engineered Materials net sales up 3% to $669M.

Gross margin rate down 60 bps to 17.9%.

SG&A expense rate improved 30 bps to 6.3%.

Adjusted operating margin rate slipped 50 bps to 10.1%.

Operating EBITDA advanced 6.8% to $331M.

FY2019 Guidance: Cash flow from operation: $1.04B; Adjusted free cash flow: $670M; Capex: $350M.

Previously: Berry Plastics beats by $0.02, beats on revenue (Feb. 1)

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