Amcor reports Q1 EPS 11.3c, consensus 18c

Reports Q1 revenue $5.745B, consensus $5.75B. Amcor (AMCR) CEO Peter Konieczny said, “I am pleased with how the legacy Amcor and Berry teams have come together as one to integrate and execute against our priorities. We’re seeing strong and consistent validation from our customers, who are very receptive to our expanded offerings and innovation capabilities. We are now seeing the quality of the combined business as the global leader in consumer packaging and dispensing solutions for nutrition, health, beauty and wellness. We are gaining momentum with synergy realization, including commercial synergies, and have solid pipelines which continue to grow. Margins increased in both operating segments. And we are addressing identified non-core assets to enhance focus on our core business. ”