Amcor plc (AMCR): Results of Operations and Financial Condition
Amcor plc (AMCR) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Amcor Reports Strong Fourth Quarter and Full-Year Results Highlights - Three Months Ended June 30, 2026 • Net sales $6.4 billion, up 26% largely driven by Berry acquisition and pass through of higher raw material costs • Net income $389 million vs. -$39 million prior
How this was made
The 30-second read
Why it matters
Traders can update models using the reported GAAP and adjusted metrics, the stated drivers of sales/EBITDA growth (Berry acquisition, raw-material pass-through, FX), and the explicit transition-period Adjusted EPS range and leverage target.
Market read
Fresh earnings and explicit transition guidance (Adjusted EPS $1.80 to $1.90, leverage 3.5x to 3.6x) create a direct catalyst for near-term estimate revisions and positioning.
What to watch
Net debt is $12.897B and leverage guidance is still in a tight band, so any integration slippage or cost inflation could quickly pressure the transition-period EPS range.
Amcor Reports Strong Fourth Quarter and Full-Year Results
Fourth-quarter net sales increased 26%, adjusted EBITDA increased 32%, adjusted EBIT increased 37%, and adjusted diluted EPS increased 23%. The results included acquired sales from the Berry acquisition, synergy benefits, and cost and productivity initiatives.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net sales, three months ended June 30GAAP | $6,398 million | – | 26% |
| Net income, three months ended June 30GAAP | $389 million | – | – |
| Diluted EPS, three months ended June 30GAAP | $0.83 | – | – |
| Adjusted EBITDA, three months ended June 30non-GAAP | $1,045 million | – | 32% |
| Adjusted EBIT, three months ended June 30non-GAAP | $836 million | – | 37% |
| Adjusted net income, three months ended June 30non-GAAP | $570 million | – | 40% |
| Adjusted EPS, three months ended June 30non-GAAP | $1.23 | – | 23% |
| Free Cash Flow, three months ended June 30non-GAAP | $1,396 million | – | 48% |
| GAAP net interest expense, three months ended June 30GAAP | $150 million | – | – |
| GAAP income tax expense, three months ended June 30GAAP | $97 million | – | – |
| Adjusted net interest expense, three months ended June 30non-GAAP | $150 million | – | $36 million higher than the prior year |
| Adjusted tax expense, three months ended June 30non-GAAP | $116 million | – | – |
| Adjusted effective tax rate, three months ended June 30non-GAAP | 16.8% | – | – |
| Net sales, twelve months ended June 30GAAP | $23,506 million | – | 57% |
| Net income, twelve months ended June 30GAAP | $1,106 million | – | – |
| Diluted EPS, twelve months ended June 30GAAP | $2.38 | – | – |
| Adjusted EBITDA, twelve months ended June 30non-GAAP | $3,673 million | – | 68% |
| Adjusted EBIT, twelve months ended June 30non-GAAP | $2,813 million | – | 63% |
| Adjusted net income, twelve months ended June 30non-GAAP | $1,863 million | – | 64% |
| Adjusted EPS, twelve months ended June 30non-GAAP | $4.02 | – | 13% |
| Free Cash Flow, twelve months ended June 30non-GAAP | $1,303 million | – | 41% |
| GAAP net interest expense, twelve months ended June 30GAAP | $610 million | – | – |
| GAAP income tax expense, twelve months ended June 30GAAP | $181 million | – | – |
| Adjusted net interest expense, twelve months ended June 30non-GAAP | $581 million | – | – |
| Adjusted tax expense, twelve months ended June 30non-GAAP | $368 million | – | – |
| Adjusted effective tax rate, twelve months ended June 30non-GAAP | 16.5% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Global Flexible Packaging SolutionsNet sales were 16% higher than last year on a constant currency basis, including approximately $297 million of acquired sales net of divestitures. The pass through of movements in raw material costs had a favorable impact of approximately $190 million, or 6% on net sales. The Company estimates that volumes were approximately 1% higher compared to volumes for the combined legacy Amcor and Berry businesses in the June quarter last year. | $3,525 million | – | 18% |
Six Months Ended December 31, 2026 ('Transition Period') outlook
- NoteAdjusted EPS of approximately $1.80 to $1.90
- Noteleverage on December 31, 2026 of 3.5x - 3.6x
Capital returns
- The Board declared a quarterly cash dividend of 65.0 cents per share today, compared with 63.75 cents per share.
- The dividend will be paid in US dollars to holders of Amcor’s ordinary shares trading on the NYSE.
- Holders of CDIs trading on the ASX will receive an unfranked dividend of 92.0 Australian cents per share.
- The ex-dividend date will be September 3, 2026 for holders of CDIs trading on the ASX and September 4, 2026 for holders of shares trading on the NYSE.
- For all shareholders, the record date will be September 4, 2026 and the payment date will be September 24, 2026.
What drove it
- Fourth-quarter net sales included approximately $962 million of acquired sales net of divestitures.
- The pass through of movements in raw material costs had a favorable impact of approximately $280 million in the fourth quarter.
- Fourth-quarter foreign exchange rates had a favorable impact of approximately 2%.
- Fourth-quarter adjusted EBIT included approximately $96 million of acquired EBIT net of divestitures.
- Fourth-quarter adjusted EBIT benefited from synergy benefits from the Berry acquisition of approximately $100 million and strong execution against cost and productivity initiatives, including in non-core businesses.
- Fiscal-year net sales included approximately $7.9 billion of acquired sales net of divestitures.
- Fiscal-year adjusted EBIT included approximately $842 million of acquired EBIT net of divestitures and synergy benefits from the Berry acquisition of approximately $240 million.
Concerns
- The remaining (1%) fourth-quarter year-over-year net-sales variation reflects the net impact of volumes and price/mix.
- The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales in the June quarter, excluding non-core and divested businesses.
- Fiscal-year remaining (2%) year-over-year net-sales variation reflects the net impact of volumes and price/mix.
- Fiscal-year adjusted EBIT growth from synergies was partly offset by lower volumes.
- Adjusted net interest expense was $36 million higher than the prior year primarily as a result of increased acquisition related net debt.
- The outlook contemplates ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results and actual results could vary materially.
What to watch
- Adjusted EPS of approximately $1.80 to $1.90 for the Transition Period.
- Leverage on December 31, 2026 of 3.5x - 3.6x.
- Synergy realization and the integration of Berry.
- Volume and price/mix trends excluding non-core and divested businesses.
- Potential portfolio optimization actions not announced to date, which are not included in the outlook.
Balance sheet and cash flow
- Free cash flow was $1,303 million after funding approximately $290 million of net transaction, restructuring and integration costs.
- Net debt was $12,897 million at June 30, 2026.
Analysis
Amcor reported a strong fourth quarter, with GAAP net sales of $6,398 million, up 26%, and adjusted EBITDA of $1,045 million, up 32%. Adjusted EBIT increased 37% to $836 million, adjusted net income increased 40% to $570 million, and adjusted EPS increased 23% to $1.23. GAAP net income was $389 million compared with -$39 million in the prior-year quarter, while diluted EPS was $0.83 compared with $-0.10.
The Berry acquisition was the principal source of reported growth. Fourth-quarter net sales included approximately $962 million of acquired sales net of divestitures, while pass-through of raw-material-cost movements contributed approximately $280 million and foreign exchange had a favorable impact of approximately 2%. On the comparable legacy Amcor and Berry business base, the company estimated volumes were approximately 0.5% higher excluding non-core and divested businesses, while price/mix had an unfavorable impact of approximately (1%).
Profit growth reflected both acquisition effects and execution. Fourth-quarter adjusted EBIT included approximately $96 million of acquired EBIT net of divestitures. The remaining growth mainly reflected approximately $100 million of Berry synergy benefits and cost and productivity initiatives, including in non-core businesses. Global Flexible Packaging Solutions generated net sales of $3,525 million, with reported growth of 18%, constant-currency growth of 16%, and estimated volume growth of approximately 1% versus combined legacy-business volumes.
Cash generation was substantial, with free cash flow of $1,396 million in the quarter and $1,303 million for the fiscal year. Fiscal-year free cash flow was reported after funding approximately $290 million of net transaction, restructuring and integration costs. Net debt was $12,897 million at June 30, 2026, and adjusted net interest expense was $36 million higher than the prior year primarily because of increased acquisition related net debt. The Board declared a quarterly cash dividend of 65.0 cents per share.
The company is transitioning its year-end from June 30 to December 31 and will report a six-month Transition Period ending December 31, 2026. For that period, Amcor expects adjusted EPS of approximately $1.80 to $1.90 and leverage of 3.5x - 3.6x on December 31, 2026. The outlook excludes potential unannounced portfolio optimization actions and cites geopolitical developments as a source of heightened uncertainty.
Management, verbatim
We delivered strong operating performance in the fourth quarter despite a challenging macro environment. We drove broad-based volume growth, while effectively managing unprecedented input cost inflation. Synergy realization came in ahead of plan, while performance in our non-core businesses improved substantially. Looking ahead, we are encouraged by the momentum we see across the business and the greater potential for growth and continued synergy capture following the transformative acquisition of Berry. As we complete the integration and begin to realize our potential as a global leader in consumer packaging, we remain confident in delivering on our medium and long-term commitments.
Peter Konieczny, Amcor CEO
Not in the filing
stated, not guessed- GAAP gross margin
- non-GAAP gross margin
- GAAP operating income
- GAAP operating margin
- cash balance
- gross debt balance
- share repurchases
- prior-quarter comparisons for reported metrics
- revenue guidance
- gross-margin guidance
- operating-expense guidance
- tax-rate guidance
- complete segment disclosure beyond the excerpted Global Flexible Packaging Solutions information
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Amcor filed an SEC 8-K (Item 2.02) with Exhibit 99.1 covering Q4 and full-year results ended June 30, 2026, plus a six-month transition outlook to December 31, 2026.
Ticker impact
Amcor reported Q4 and full-year results with net sales, net income, adjusted EBITDA, and issued a six-month Adjusted EPS outlook for the transition period.
Likely positive near-term bias as the EPS range and leverage guidance support a stronger earnings outlook post-Berry integration.
The 8-K includes specific reported financials (net sales, net income, adjusted EBITDA, FCF) and explicit forward guidance (Adjusted Diluted EPS $1.80 to $1.90, leverage 3.5x to 3.6x) for the next six-month transition period.
Market effects
Consumer packaging and materials peers may see read-across on integration synergy delivery and input-cost pass-through effectiveness.
Limited direct regional impact stated, but dividend timing and FX translation could affect cross-listed holders.
As a global packaging supplier, guidance and synergy progress can influence broader sentiment toward industrial packaging demand and margin resilience.
Counterpoint
The headline strength is heavily influenced by the Berry acquisition and raw-material cost pass-through, so organic demand and underlying margin durability may be less robust than headline growth suggests.
Key entities
- companyAmcor plc
Consumer packaging company reporting Q4 and full-year results and providing transition-period guidance in an SEC 8-K.
- transactionBerry acquisition
Acquisition referenced as a major driver of acquired sales/EBIT and synergy realization ahead of plan.
- executivePeter Konieczny
CEO quoted on operating performance, input cost inflation management, and confidence in medium and long-term commitments.
