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NEW YORK - Amcor plc (NYSE:AMCR) reported lower-than-expected earnings and revenue for its fiscal third quarter, while announcing the completion of its merger with Berry Global. The packaging company also updated its full-year outlook. Shares were trading flat after-hours Wednesday.
Amcor posted adjusted earnings per share of $0.18 for the quarter ended March 31, missing analyst estimates of $0.19. Revenue came in at $3.33 billion, below the consensus forecast of $3.49 billion and down 2% YoY.
The company said it closed its "transformational merger" with Berry Global on April 30, earlier than anticipated. CEO Peter Konieczny called it a "defining day for Amcor," saying the combination enhances the company’s positions in attractive categories and expands its capabilities.
For the first nine months of fiscal 2025, Amcor reported net sales of $9.93 billion, down 2% YoY. Adjusted EBIT rose 3% on a comparable constant currency basis to $1.11 billion.
Volumes were flat in the quarter as weak consumer demand offset modest share gains. North American volumes softened sequentially, while other regions saw low to mid-single digit growth.
Amcor narrowed its fiscal 2025 adjusted EPS guidance to $0.72-$0.74, including merger impacts in May and June. It expects adjusted free cash flow of $900 million to $1 billion.
"We have significant control over delivery of synergies, and through dedicated workstream teams, we are now executing against well developed plans to capture $650 million in identified cost, financial, and growth synergies over three years," Konieczny said.
The company declared a quarterly dividend of 12.75 cents per share, up from 12.5 cents last year.
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