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Amcor misses Q2 sales estimates as weak consumer spending weighs on packaging demand
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Amcor misses Q2 sales estimates as weak consumer spending weighs on packaging demand
Feb 4, 2025 5:22 AM

Feb 4 (Reuters) - Amcor PLC ( AMCCF ) missed Wall

Street estimates for quarterly revenue on Tuesday on weak demand

for its containers and cartons from consumer goods companies

amid a challenging macroeconomic environment.

Consumers have been pulling back on non-essential spending

amid high inflation and low wage growth, forcing packaged goods

companies to trim their inventories.

Weak demand for packaging from the healthcare industry and

the beverage business in North America hit overall volumes by

more than 1%, the company said.

The company, which supplies to consumer goods giants like

PepsiCo ( PEP ) and Procter & Gamble ( PG ), reported a

second-quarter revenue of $3.24 billion, missing the average of

analysts' estimates of $3.35 billion, according to data compiled

by LSEG.

The weak sales come on the back of comments from peers

Packaging Corp of America ( PKG ) and International Paper ( IP )

who posted disappointing fourth-quarter results last week.

Amcor's ( AMCCF ) adjusted profit for the quarter was 16.1 cents per

share, in line with market expectations.

The company reaffirmed its 2025 adjusted earnings per share

forecast of 72 to 76 cents per share. The impact of its

$8.43-billion deal for Berry Global was not factored in the

outlook, Amcor ( AMCCF ) said.

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