12:18 PM EDT, 05/01/2024 (MT Newswires) -- (Updates with the company's latest stock move in the headline and first paragraph.)

Amcor ( AMCCF ) shares jumped more than 10% in recent Wednesday trading, a day after the company reported higher-than-expected adjusted earnings in fiscal Q3 and raised the low end of its previous annual outlook range.

The company reported fiscal Q3 adjusted earnings late Tuesday of $0.178 per diluted share, up from $0.175 a year earlier.

Analysts polled by Capital IQ expected $0.16.

Net sales for the quarter ended March 31 were $3.41 billion, down from $3.67 billion a year earlier.

Analysts surveyed by Capital IQ expected $3.49 billion.

The company said that for fiscal 2024 it now expects adjusted EPS between $0.685 and $0.71. The previous guidance was between $0.67 and $0.71. Analysts polled by Capital IQ expect $0.70.

Price: 9.88, Change: +0.94, Percent Change: +10.46