2239 GMT [Dow Jones]--Times continue to be tough for drinks packaging company Orora, and Jefferies thinks a FY27 earnings downgrade is likely. Orora's Saverglass business is grappling with consumers shifting away from high-margin spirits to other liquor. "Orora has cited consistent pricing pressure and negative mix impacts, which we don't expect to stabilize until 2H27 at the earliest," says analyst Ramoun Lazar. Jefferies now expects a mix of spirits to wine and champagne of 40/60%, compared to 60/40% in the past. It forecasts FY27 Saverglass revenues to fall 4% on year. "Subsequently, we sit 24% below the street at Ebit for Saverglass in FY27, which is 50% lower than pre-acquisition Ebit on a constant currency basis, with no sign of recovery for spirits," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 04, 2026 18:43 ET (22:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.