Aug 12 (Reuters) - Amcor ( AMCCF ), beat Wall Street
estimates for fourth-quarter results on Wednesday, as the
packaging firm managed to pass along higher raw material costs
to its customers and bettered volumes in categories including
pet food and beauty.
The Switzerland-based firm has leaned on higher prices,
cost-cutting and a focus on its key segments to protect margins
as consumer-goods customers remain cautious on inventory
restocking amid macroeconomic uncertainty.
Here are some details:
* Amcor ( AMCCF ), which supplies packaging materials to companies
such as PepsiCo ( PEP ) and Procter & Gamble, has also
benefited from last year's acquisition of smaller peer Berry
Global.
* Amcor ( AMCCF ) posted quarterly sales of $6.40 billion, beating
analysts' estimates of $6.05 billion, according to data compiled
by LSEG.
* Its adjusted profit of $1.23 per share for the quarter
ended June 30 also topped estimates of $1.19 per share.
* Quarterly volumes in its flexible packaging segment - a
major revenue contributor - rose about 1%, while volumes in
rigid packaging business fell 1% after declining 4% a year ago.
* The company said its quarterly sales were boosted by about
$280 million because of it passing on increase in raw material
costs to customers.
* Amcor ( AMCCF ), which is transitioning the end of its financial
year to December 31 from June 30, forecast adjusted profit per
share of $1.80 to $1.90 for the six-month period.
* Shares of the company, which have risen nearly 14% this
year, were down 2% at $46.50 in premarket trading.