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Amcor profit misses consensus by 25.9% in fiscal H1

Amcor Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2016, amounted to 19 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS declined year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $226.8 million, a decrease of 5.4% from $239.8 million in the prior-year period.

Total revenue declined on an annual basis to $4.47 billion from $4.55 billion, and total operating expenses fell year over year to $4.00 billion from $4.07 billion.

Reported net income fell 6.2% on an annual basis to $286.6 million, or 25 cents per share, from $305.5 million, or 26 cents per share.