NEW YORK - Amcor plc (NYSE:AMCR) reported fourth quarter earnings that beat analyst expectations, but revenue fell short of estimates.
Amcor shares fell 1.8% in after-hours trading following the mixed results and guidance.
The packaging company posted adjusted earnings per share of $0.21 for the quarter ended June 30, topping the consensus estimate of $0.20. However, revenue came in at $3.54 billion, below analyst projections of $3.63 billion.
Amcor said volumes returned to growth in the quarter, rising 1% YoY, which represents a sequential improvement of 5 percentage points. The company noted volumes remained soft in healthcare categories and the North America beverage business.
For fiscal 2025, Amcor forecasts adjusted EPS of $0.72 to $0.76, compared to the $0.75 consensus. It also expects adjusted free cash flow of $900 million to $1 billion.
"Amcor finished fiscal 2024 strongly, as the underlying business delivered another sequential improvement in volume and earnings growth, with fourth quarter adjusted EPS up 9%, ahead of the expectations we set out in April," said Interim CEO Peter Konieczny.
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