Amcor PLC (ASX: AMC), a company that specializes in packaging, has released its Q3 financial results and provided an update on its fiscal 2023 forecast. The company's adjusted earnings per share (EPS) increased by 4% in comparable constant currency terms for the first nine months of fiscal 2023, while net sales increased by 4% to AU$11.02 billion. The company's adjusted earnings before interest and taxes (EBIT) increased by 4% to reach AU$1.17 billion.
Nevertheless, Amcor cautioned that there will be difficult operating conditions in the near future, and consequently, the company lowered its fiscal 2023 forecast to a range of adjusted EPS and free cash flow, with projected values of 72-74 cps and AU$800-900 million, respectively. According to Amcor CEO Ron Delia, despite the challenges presented by the softness and volatility of the current demand environment, the company is optimistic about the robustness of its core business, its value proposition to customers, and its ability to execute effectively.
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