Berry Global Group, Inc (NYSE:BERY) Q3 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 10:00 am ET


Berry Global Group, Inc (NYSE:BERY) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Berry Global Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Dustin Stilwell. Thank you. Please go ahead, sir.

Dustin Stilwell

Thank you, and good morning, everyone. Welcome to Berry's Third Fiscal Quarter 2020 Earnings Call. Throughout this call, we will refer to the third fiscal quarter as the June 2020 quarter. Before we begin our call, I would like to mention that on our website, we have provided a slide presentation to help guide our discussion this morning. After today's call, a replay will also be available on our website at under our Investor Relations section.

Joining me from the company, I have Berry's Chief Executive Officer, Tom Salmon; and Chief Financial Officer, Mark Miles. Following Tom and Mark's comments today, we will have a question-and-answer session. [Operator Instructions] As referenced on slide two, during this call, we will be discussing some non-GAAP financial measures. The most directly comparable GAAP financial measures and a reconciliation of the differences between the GAAP and non-GAAP financial measures are available in our earnings release and investor presentation on our website.

And finally, a reminder that certain statements made today may be forward-looking statements. These statements are based are made based upon management's expectations and beliefs concerning future events impacting the company, and therefore, involve a number of uncertainties and risks, including, but not limited to those described in our earnings release, annual report on Form 10-K and other filings with the SEC. Therefore, the actual results of operations or financial condition of the company could differ materially from those expressed or implied in our forward-looking statements.

And now I would like to turn the call over to Berry's CEO, Tom Salmon.

Thomas E. Salmon

Thank you, Dustin. Good morning, everyone, and thank you for being with us today. Here we are, a quarter after much of the globe went into confinement, a situation that none of us have experienced before. For many companies, COVID-19 has created one of the most challenging and uncertain times from an operational and financial perspective that we can recall. Borders were closed, travel is limited and offices and schools were vacated. It's been a lot of work for our teams across the globe, but I can proudly today say that we have shown that Berry stands strong, just as it has in the past, under various challenging economic conditions.

Through our employees' relentless effort and dedication, along with our diverse stable portfolio, we were able to deliver record EBITDA for any quarter in the company's history while growing organic volumes 2% compared to the same quarter last year. This makes the second consecutive quarter of volume growth for the company, further exhibiting our intense focus on investment towards consistent, profitable long-term growth. I'd be remiss if I didn't give a special thank you to our entire Berry team across the globe,