Amcor (AMCR) Q2 Earnings Beat Estimates, Revenues Dip Y/Y

Amcor Plc (AMCR) reported second-quarter fiscal 2023 (ended Dec 31, 2023) adjusted earnings per share (EPS) of 16 cents, which surpassed the Zacks Consensus Estimate of 15 cents. The bottom line fell 15% from the year-ago quarter, mainly due to the downtrend in volumes reflecting customer destocking.Including special items, the company reported net EPS of 9 cents compared with 31 cents in the year-ago quarter.Total revenues fell 11% year over year to $3.25 billion in the reported quarter. The price/mix had ...