Berry Global Group, Inc. (NYSE:BERY) Q4 2022 Earnings Call Transcript

Jeff Zekauskas: For the year your price cost — you had a price cost benefit of $95 million on EBITDA. In the scheme of things, is that a number that you aim to try to get to a positive number each year, or is it the case that in the ebb and flow of your business that under normal circumstances the positive numbers are followed by negative numbers and it levels out to about zero?

Tom Salmon: Mark may have a view on this, but price versus cost is positive in a normal inflationary environment frankly, probably greater than $100 million over the last 10 years.

Mark Miles: Yes. I would say in 80% of the years that relationship is positive, thanks to our efforts to continue to focus on cost reduction efforts improving our material usage, internal productivity improvements. The net of price and costs are again in 80% of the year is a positive relationship. The toughest years are the ones actually like last year where you have just significant inflation. Those are usually, create the most pressure. And usually, we have the most tailwind in deflationary environment.

Jeff Zekauskas: Great. Thank you so much.

Tom Salmon: Any other caller, operator?

Operator: No further questions.

Tom Salmon: Well, I want to thank everybody today for joining us for our fiscal fourth quarter call. We look forward to talking to you to report out on the first quarter. Have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.