AMC - Stock Update
AMC missed expectations on their Q2 earnings released this morning although full year guidance remains set. More importantly to note is that volume and price/mix improved 2Q22 vs 1Q22.
This suggests that when raw material and supply chain issues ease, it will be a source of earnings improvement.
Constant currency EPS guidance has been re-iterated at 7-11% but consensus is expected to gravitate towards the bottom of the range.
Company overview
Amcor are global leaders in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products.
The bulk of Amcor’s businesses are performing well with some slight challenges being ironed out. This supports our BUY rating for AMC, given the North American issues are worked through in a manageable manner.
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