berry global group inc posted a drop in fiscal firstquarter earnings as prices and demand for its packaging materials fell and a stronger dollar weighed the evansville ind maker of plastic packaging posted net income of 106 million or 85 cents a share for the quarter ended in december down from 121 million or 87 cents a share a year earlier on an adjusted basis berry posted earnings of 130 a share firstquarter sales fell 14 to 306 billion berry cited broad weakness in the packaging market adding that customers worked through inventory as global supply chains normalized foreignexchange translation and the covid19 outbreak in china hurt international sales of its consumer packaging the signs of dwindling demand echoed reports from other industrial suppliers such as 3m co and avery dennison corp for the year ending in september berry global forecast adjusted earnings of 730 to 780 a share the midpoint of that range would represent 8 growth from fiscal 2022 levels the company targeted free cash flow of 800 million to 900 million for the year berry expects to return at least 700 million to shareholders through buybacks and dividends separately the company said chief executive tom salmon would retire at the end of 2023