Amcor cuts FY2023 adjusted EPS guidance to 72-74¢ amid weak demand

Amcor plc

2023-Q3 EPS reported $0.58 revenue$11,021,000,000

Q3 adjusted EPS 17.5¢; GAAP EPS 11.9¢; adjusted EBIT $382M, down 2.5% YoY constant currency.
Nine-month adjusted EPS 54.1¢, up 4% constant currency; net sales $11,021M, up 2% constant currency.
FY2023 adjusted EPS guidance lowered to 72-74¢ from prior 77-81¢; free cash flow $800-900M (prev. $1.0-1.1B).
Quarterly dividend raised to 12.25¢ (from 12.00¢); up to $500M share repurchases planned for FY2023.
Volumes declined ~3% in Q3 due to softer demand and customer destocking; cost actions offset inflation.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Amcor plc reported first nine months of fiscal year 2023 results: revenue Net sales of $11,021 million, net income GAAP Net income of $868 million, EPS GAAP diluted earnings per share (EPS) of 58.1 cps. Guidance reaffirmed.

Period: first nine months of fiscal year 2023
Revenue: Net sales of $11,021 million
Net income: GAAP Net income of $868 million
EPS: GAAP diluted earnings per share (EPS) of 58.1 cps
Guidance: reaffirmed
Result: reported results

Exact text from the filing

quarter result and updates fiscal 2023 outlook March 2023 quarter: GAAP EPS of 11.9 cps; Adjusted EPS of 17.5 cps Highlights - Nine Months Ended March 31, 2023 • Net sales of $11,021 million, up 4%; • GAAP Net income of $868 million, up 25%; GAAP diluted earnings per share (EPS) of 58.1 cps, up 27%; • Adjusted EPS of 54.1 cps, up 4% on a comparable constant currency

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Source: SEC EDGAR

accession 0001748790-23-000019

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