financetom
Business
financetom
/
Business
/
Amcor misses Q2 sales estimates as weak consumer spending weighs on packaging demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Deutsche Bank sees 2025 revenue gains at all four main businesses
Deutsche Bank sees 2025 revenue gains at all four main businesses
Mar 13, 2025
FRANKFURT (Reuters) - Deutsche Bank on Thursday forecast increased revenue in 2025 at its investment bank and three other main business units. The outlook, published in its latest annual report, is the bank's most detailed projection yet for its expected performance in 2025. The current year is a crucial one for CEO Christian Sewing, who is striving to meet a...
UK's Savills sees return-to-office driving 2025 volumes after FY profit beat
UK's Savills sees return-to-office driving 2025 volumes after FY profit beat
Mar 13, 2025
(Reuters) - Global real estate advisor Savills ( SVLPF ) expects a continued back-to-office push to help transaction volumes in 2025, after it posted better than expected annual profit. We expect re-financing driven activity and the trend towards corporates requiring greater office attendance for staff to continue to be positive for transaction volumes, said CEO Mark Ridley in a statement....
IonQ Insider Bought Shares Worth $2,029,509, According to a Recent SEC Filing
IonQ Insider Bought Shares Worth $2,029,509, According to a Recent SEC Filing
Mar 13, 2025
03:26 AM EDT, 03/13/2025 (MT Newswires) -- William F Scannell, Director, on March 12, 2025, executed a purchase for 93,066 shares in IonQ ( IONQ ) for $2,029,509. Following the Form 4 filing with the SEC, Scannell has control over a total of 135,047 common shares of the company, with 135,047 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1824920/000141588925007970/xslF345X05/form4-03132025_010346.xml ...
NRG Energy to Acquire Power Plants in Texas for $560 Million
NRG Energy to Acquire Power Plants in Texas for $560 Million
Mar 13, 2025
03:23 AM EDT, 03/13/2025 (MT Newswires) -- NRG Energy ( NRG ) said late Wednesday it has agreed to acquire six natural gas-fired power plants totaling 738 megawatts from Texas-based Rockland Capital for $560 million. The company plans to fund the deal primarily through corporate debt and expects the deal to be accretive to earnings. Closing of the deal is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved