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AMCR NYSE· Amcor PLC
Earnings report Q4 2023

AMCR Experiences Decrease in Revenue in Recent Quarter

Segments of revenue

AMCR reported net sales of $3.25 billion in the recent quarter, marking a decrease of $391 million, or 11%, compared to the same period in the previous year.

Strengths

Despite the decrease in net sales, AMCR was able to mitigate some of the decline through positive currency impacts of $72 million.

Challenges

The decrease in net sales was largely due to lower volumes, which contributed to a $348 million, or 10%, decrease in net sales. Additionally, the pass-through of lower raw material costs negatively impacted net sales by approximately $30 million. The disposal of the Russian business also had a negative impact, reducing net sales by $85 million.

Noteworthy

The company's operating income also decreased significantly, from $559 million to $242 million, and operating income as a percentage of net sales dropped from 15.3% to 7.4%.

Summary

AMCR faced a challenging quarter with a significant decrease in net sales, largely due to lower volumes and the negative impacts of lower raw material costs and the disposal of the Russian business. The company will need to address these challenges to improve its financial performance in future quarters.

Source documents

Form 10-Q  filed on Feb 07, 2024
83 pages scanned

Reference data

Company financials Q4 revenue 3.25B
Analyst estimates Q4 EPS beat by 6.06%
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