Full Year 2024 Amcor PLC Earnings Call Transcript
Key Points
- Amcor PLC (AMCCF) reported strong financial results for Q4, driven by solid performance and a return to volume growth.
- The company experienced a 12% reduction in injuries compared to fiscal '23, reinforcing its industry leadership in safety.
- Adjusted earnings per share (EPS) grew by 9% on a comparable constant currency basis, exceeding mid-single digit growth expectations.
- Amcor PLC (AMCCF) delivered adjusted free cash flow of $952 million, up more than $100 million from the previous year.
- The company continues to invest in organic growth and strategic M&A, maintaining a compelling and growing dividend.
- Consumer demand remains muted, with expectations for low-single digit declines continuing into fiscal '25.
- Destocking in healthcare categories continued, negatively impacting overall volumes by approximately 2%.
- North American beverage volumes were down 8%, reflecting lower consumer demand and unfavorable customer mix.
- The company faces an EPS headwind of approximately 4% related to normalization of incentives.
- Restructuring costs are expected to continue into fiscal '25, with an additional $60 million anticipated.
Hello, and welcome to the Amcor fiscal year '24 results conference call.
(Operator Instructions)
I would now like to turn the conference over to Tracey Whitehead, Head of Investor Relations. Please go ahead.
Thank you, operator, and thank you, everyone, for joining Amcor's fiscal 2024 fourth quarter and full year earnings call. Joining me today is Peter Konieczny, Interim Chief Executive Officer, and Michael Casamento, Interim Chief Financial Officer.
Before I hand over, let me note a few items. On our website Amcor.com under the investor section, you'll find today's press release and presentation, which we'll discuss on this call. Please be aware that we will also discuss non-GAAP financial measures, and related reconciliations can be found in the press release and the presentation. Remarks will also include forward-looking statements that are based on management's current views and assumptions, a second slide in today's presentation, the several factors that could cause future
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