Amcor Reaffirms FY24 Guidance, With Adjusted EPS Of $0.67-$0.71, Est $0.69
Portfolio Pulse from Benzinga Newsdesk
Amcor reaffirms its FY24 guidance, projecting an adjusted EPS of $0.67-$0.71, aligning with an estimated $0.69. The guidance includes a mix of underlying business performance ranging from a low-single digit decline to a low-single digit increase, a 2% benefit from share repurchases, and a 6% negative impact from higher estimated net interest and tax expense.
March 19, 2024 | 8:21 pm
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Amcor reaffirms its FY24 EPS guidance of $0.67-$0.71, estimated at $0.69, with performance influenced by business trends, share repurchases, and higher interest/tax expenses.
Amcor's reaffirmation of its FY24 EPS guidance suggests stability in its financial outlook, despite mixed underlying business performance and external financial pressures. The guidance aligns with market estimates, indicating no significant surprises for investors. The impact of share repurchases is positive, but the higher net interest and tax expense could be a concern. Overall, the announcement is likely to maintain investor confidence in the short term, with no drastic changes expected in stock price.
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