Amcor Reaffirms FY24 Outlook Adjusted EPS Of $0.67-$0.71 Vs $0.68 Est.; Adjusted Free Cash Flow Of $850M-950M
Portfolio Pulse from Benzinga Newsdesk
Amcor reaffirms its FY24 outlook with an adjusted EPS of $0.67-$0.71, versus the $0.68 estimate, and an adjusted free cash flow of $850M-$950M. CEO Ron Delia highlighted solid execution in the first half of FY24, despite challenging market conditions and slightly lower second quarter volumes. The company expects to achieve mid-single digit adjusted earnings growth in the fiscal fourth quarter, supported by benefits from the sale of its Russia business, lower interest expenses, and cost reduction initiatives. Amcor remains confident in its long-term strategy, including organic growth, potential acquisitions, share repurchases, and a growing dividend.

February 06, 2024 | 9:15 pm
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Amcor reaffirms its FY24 outlook, expecting adjusted EPS of $0.67-$0.71 and adjusted free cash flow of $850M-$950M. The company anticipates mid-single digit adjusted earnings growth in Q4, supported by strategic benefits and cost reduction initiatives.
Amcor's reaffirmation of its FY24 outlook, despite challenging market conditions, signals strong confidence in its financial health and strategic direction. The expected mid-single digit earnings growth in Q4, driven by cost reduction and strategic benefits, is likely to positively impact investor sentiment and the stock price in the short term.
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