Amcor misses quarterly sales estimates on weaker demand in North American business
Oct 31 (Reuters) -Packaging firm Amcor 485.F, AMCR.N missed first-quarter sales estimates on Thursday, hurt by weaker demand for its containers and cartons from consumer goods companies.
Separately, the company said it would be selling its 50% interest in joint venture Bericap North America for $122 million, sending its shares down about 4% in extended trading.
Amcor's sales took a hit by sluggish customer demand and an impact from consistent destocking in healthcare packaging categories.
Its quarterly sales volumes remained soft in the North American beverage business — a major revenue-generating region — along with categories including healthcare, home and personal care product packaging.
The company's customers, such as PepsiCo PEP.O and Procter & Gamble PG.N, have been grappling with frugal consumer spending.
Amcor posted quarterly sales of $3.35 billion in the quarter ended Sept. 30, compared with analysts' estimates of $3.49 billion, as per data compiled by LSEG.
However, benefits from consecutive price hikes in its rigid packaging segment, as well as cost-cutting measures and easing raw material costs, aided Amcor in edging past analysts' estimates for profit.
On an adjusted basis, Amcor posted first-quarter earnings of 16.2 cents per share, compared with analysts' average estimate of 16 cents per share.
Bericap North America, which was established in 1997, is Amcor's joint venture with Germany-based firm Bericap, a manufacturer of plastic lids for beverage food and other industrial end markets.
Upon closing around Dec. 31, cash proceeds will be used to reduce debt, said Amcor, and it does not expect the transaction to have an impact on its financial outlook for fiscal 2025.
The packaging products maker reaffirmed its annual adjusted profit forecast of 72 cents to 76 cents per share.
Reporting by Anuja Bharat Mistry in Bengaluru; editing by Alan Barona
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
