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The Zacks Consensus Estimate for the fiscal first-quarter revenues is pegged at $3.58 billion, indicating growth of 4.6% from the prior-year quarter’s figure. The consensus mark for quarterly earnings currently stands at 19 cents, suggesting year-over-year growth of 5.6%. The estimate has remained unchanged over the past 30 days.
Q4 Results
Amcor’s fourth quarter fiscal 2022 earnings came in line with the Zacks Consensus Estimate while revenues beat the same. Both the top and bottom line improved year on year. The company has a trailing four-quarter negative earnings surprise of 1.25%, on average.
Amcor’s Rigid Packaging and Flexible Packaging segments have been performing well through a combination of organic growth and disciplined cost control. The Flexibles segment has been witnessing growth in medical, condiments, liquid beverage and confectionary end markets and the Rigid packaging segment has also been reporting strong consumer demand.
In North America, beverage volumes were up 1% year over year in fiscal 2022, while hot fill container volumes were up 2%. The segment has been seeing volume growth in isotonic, as well as iced tea categories, where customer demand for 100% recycled PET bottles has been strong. Brand extensions and the introduction of new health and wellness-oriented products in PET containers have been supporting growth. This momentum is expected to have reflected in Amcor’s first-quarter fiscal 2023 top line.
Amcor’s acquisition of Bemis Company in June 2019 has expanded its global footprint, opened up new attractive end markets and customers for the company’s products, and greater economies of scale, thus driving efficiencies and higher margins. The integration has been essentially completed and the buyout is expected to expand the Flexible segment’s margins.
However, this benefit might have been offset by higher raw material, chemical labor and transportation costs. The company has been witnessing raw material price volatility due to supply shortages of certain resins and raw materials, which might have marred the to-be-reported quarter’s margin performance.
What the Zacks Model Indicates
Our proven model doesn’t conclusively predict an earnings beat for Amcor this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Amcor is 0.00%.
Zacks Rank: Amcor currently carries a Zacks Rank #3.
Over the past year, shares of Amcor have declined 5.1% against the industry’s fall of 9%.
Stocks Poised to Beat Earnings Estimates
Here are some Industrial Products stocks, which, according to our model, have the right combination of elements to post an earnings beat in their upcoming releases:
Sonoco Products Company (SON - Free Report) currently has an Earnings ESP of +4.20% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter 2022 earnings has remained unchanged at $1.43 over the past 60 days. The estimate suggests growth of 57% from the year-ago reported figure. SON has a trailing four-quarter earnings surprise of 4.1%, on average.
The Zacks Consensus Estimate for SON’s quarterly revenues is pegged at $1.92 billion. The estimate projects an increase of 57% from the prior-year quarter’s levels.
Mueller Water Products (MWA - Free Report) currently has an Earnings ESP of +17.65% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter 2022 earnings is currently pegged at 14 cents per share, suggesting 16.7% growth from the year-ago quarter. The estimate has gone up 8% over the past 60 days.
The Zacks Consensus Estimate for quarterly revenues is pinned at $320.7 million, suggesting growth of 8.5% from the prior-year tally. MWA has a trailing four-quarter earnings surprise of 5.17%, on average.
AGCO Corporation (AGCO - Free Report) currently has an Earnings ESP of +1.96% and a Zacks Rank #3. The Zacks Consensus Estimate for third-quarter 2022 earnings has gone up 0.3% in the past 60 days and is currently pegged at $3.12 per share. The projection indicates 29.5% growth from the year-ago reported figure.
The Zacks Consensus Estimate for AGCO’s quarterly revenues is pegged at $3.28 billion, which indicates an improvement of 20.4% from the year-ago reported figure. AGCO has a trailing four-quarter earnings surprise of 37.5%, on average.
Image: Bigstock
Amcor (AMCR) to Report Q1 Earnings: What's in the Offing?
Amcor Plc (AMCR - Free Report) is scheduled to report first-quarter fiscal 2023 results on Nov 1, after the closing bell.
Q1 Estimates
The Zacks Consensus Estimate for the fiscal first-quarter revenues is pegged at $3.58 billion, indicating growth of 4.6% from the prior-year quarter’s figure. The consensus mark for quarterly earnings currently stands at 19 cents, suggesting year-over-year growth of 5.6%. The estimate has remained unchanged over the past 30 days.
Q4 Results
Amcor’s fourth quarter fiscal 2022 earnings came in line with the Zacks Consensus Estimate while revenues beat the same. Both the top and bottom line improved year on year. The company has a trailing four-quarter negative earnings surprise of 1.25%, on average.
Amcor PLC Price and EPS Surprise
Amcor PLC price-eps-surprise | Amcor PLC Quote
Key Factors to Note
Amcor’s Rigid Packaging and Flexible Packaging segments have been performing well through a combination of organic growth and disciplined cost control. The Flexibles segment has been witnessing growth in medical, condiments, liquid beverage and confectionary end markets and the Rigid packaging segment has also been reporting strong consumer demand.
In North America, beverage volumes were up 1% year over year in fiscal 2022, while hot fill container volumes were up 2%. The segment has been seeing volume growth in isotonic, as well as iced tea categories, where customer demand for 100% recycled PET bottles has been strong. Brand extensions and the introduction of new health and wellness-oriented products in PET containers have been supporting growth. This momentum is expected to have reflected in Amcor’s first-quarter fiscal 2023 top line.
Amcor’s acquisition of Bemis Company in June 2019 has expanded its global footprint, opened up new attractive end markets and customers for the company’s products, and greater economies of scale, thus driving efficiencies and higher margins. The integration has been essentially completed and the buyout is expected to expand the Flexible segment’s margins.
However, this benefit might have been offset by higher raw material, chemical labor and transportation costs. The company has been witnessing raw material price volatility due to supply shortages of certain resins and raw materials, which might have marred the to-be-reported quarter’s margin performance.
What the Zacks Model Indicates
Our proven model doesn’t conclusively predict an earnings beat for Amcor this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Amcor is 0.00%.
Zacks Rank: Amcor currently carries a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Price Performance
Image Source: Zacks Investment Research
Over the past year, shares of Amcor have declined 5.1% against the industry’s fall of 9%.
Stocks Poised to Beat Earnings Estimates
Here are some Industrial Products stocks, which, according to our model, have the right combination of elements to post an earnings beat in their upcoming releases:
Sonoco Products Company (SON - Free Report) currently has an Earnings ESP of +4.20% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter 2022 earnings has remained unchanged at $1.43 over the past 60 days. The estimate suggests growth of 57% from the year-ago reported figure. SON has a trailing four-quarter earnings surprise of 4.1%, on average.
The Zacks Consensus Estimate for SON’s quarterly revenues is pegged at $1.92 billion. The estimate projects an increase of 57% from the prior-year quarter’s levels.
Mueller Water Products (MWA - Free Report) currently has an Earnings ESP of +17.65% and a Zacks Rank of 3. The Zacks Consensus Estimate for third-quarter 2022 earnings is currently pegged at 14 cents per share, suggesting 16.7% growth from the year-ago quarter. The estimate has gone up 8% over the past 60 days.
The Zacks Consensus Estimate for quarterly revenues is pinned at $320.7 million, suggesting growth of 8.5% from the prior-year tally. MWA has a trailing four-quarter earnings surprise of 5.17%, on average.
AGCO Corporation (AGCO - Free Report) currently has an Earnings ESP of +1.96% and a Zacks Rank #3. The Zacks Consensus Estimate for third-quarter 2022 earnings has gone up 0.3% in the past 60 days and is currently pegged at $3.12 per share. The projection indicates 29.5% growth from the year-ago reported figure.
The Zacks Consensus Estimate for AGCO’s quarterly revenues is pegged at $3.28 billion, which indicates an improvement of 20.4% from the year-ago reported figure. AGCO has a trailing four-quarter earnings surprise of 37.5%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.