Group 1 - Amcor plc is strategically pivoting from commodity plastics to high-margin healthcare and hygiene segments through an all-stock merger with Berry Global, valued at $13.8 billion with over $7 billion of assumed debt, positioning it as the largest player in flexible plastics with a global market share of approximately 7% [2] - The healthcare and hygiene businesses provide a compound annual growth rate (CAGR) of 3-4% and improve margins, with healthcare nonwovens delivering around 19% EBITDA [3] - Amcor's core flexible plastics and rigid packaging businesses serve multinational FMCG giants like Nestle, P&G, and J&J, benefiting from scale, reliability, and bundled offerings that are difficult for competitors to replicate [3] Group 2 - Amcor trades at a forward P/E of approximately 10x, below peers at 12-15x, reflecting execution risk and a highly leveraged balance sheet of around 3.5x post-merger [4] - If management successfully realizes merger synergies, free cash flow could double, enabling debt reduction to approximately 3.1x-3.0x and supporting a rerating toward 12x P/E, potentially delivering a 20-30% upside [4] - Near-term catalysts include $260 million in FY26 synergy milestones, asset sales, and deleveraging, while medium- and long-term growth drivers include full synergy realization, organic expansion in healthcare/nonwovens, and sustainability mandates favoring recyclable packaging [5] Group 3 - Amcor offers a compelling risk/reward profile with a 5% dividend yield and a 10% free cash flow yield, strategically positioned to convert scale, sustainability, and healthcare exposure into a resilient, high-return compounder [7] - The combination of synergies, leverage reduction, and market leadership makes the current share price an attractive entry point with significant upside potential [7]

Company Overview - Amcor plc is a global leader in developing and producing packaging solutions across various industries, including food, beverage, pharmaceutical, medical, and home and personal care [1]. Financial Performance - Amcor is set to report its Q1 2026 earnings on October 30, with Wall Street analysts expecting an EPS of $0.19, an increase from $0.16 in the prior-year period. Quarterly revenue is anticipated to be $5.79 billion, up from $3.35 billion a year earlier [2]. - In Q4 2025, Amcor reported adjusted EPS of $0.20, which was below the consensus estimate of $0.22. However, revenues of $5.08 billion exceeded the consensus of $4.78 billion [3]. Strategic Initiatives - The acquisition of Berry Global is highlighted as a significant milestone for Amcor, enhancing its ability to create value for customers and shareholders. The company expects strong adjusted EPS growth of 12-17% and a notable increase in Free Cash Flow to between $1.8 billion and $1.9 billion in fiscal 2026 [4]. Dividend Information - Amcor's current dividend yield stands at 6.16%, with a total dividend payout of $0.51 per share over the last 12 months [2]. - To generate an income of $100 per month from Amcor dividends, an investment of approximately $19,481 is required, based on the current dividend yield [6].

Group 1 - The article promotes a subscription service called "The Dividend Dogcatcher" which provides insights on dividend stocks [1] - It highlights a live video series called "Underdog Daily Dividend Show" hosted by Fredrik Arnold, focusing on potential investment candidates [1] - The article encourages audience engagement by inviting comments on favorite and least favorite stock tickers for future reports [1]

Company Overview - Amcor is an Australian-founded global company specializing in responsible and flexible packaging solutions, recognized as a leader in the industry [1]. Market Position - The company offers high-quality services and products to businesses, indicating a strong market presence and competitive advantage [1]. Analyst Insights - The article emphasizes the importance of understanding macro trends that influence asset prices and investor behavior, which is relevant for evaluating Amcor's performance [1]. Investment Perspective - The analyst expresses a beneficial long position in Amcor shares, suggesting confidence in the company's future performance [1].

Group 1 - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, where hundreds of companies have been researched [1] - The analyst expresses a particular interest in metals and mining stocks, while also being comfortable with other industries such as consumer discretionary, REITs, and utilities [1]

Summary of Key Points from the Conference Call Industry or Company Involved - **Xiaomi Corporation** [5] - **Cochlear Limited** [7] - **Amcor Limited** [8] - **JD Health** [13] - **Bharti Airtel** [14] - **GDS Holdings Ltd** [15] - **Seek Limited** [11] - **oOh!media Ltd** [12] - **DigiCo Infrastructure REIT** [10] Core Insights and Arguments - **Xiaomi Corporation** reported a 2Q revenue growth of 30% YoY, with EBIT and adjusted net profit growing by 54% and 75% respectively. Revenue exceeded expectations by 2% and 1%, while EBIT fell short by 14% due to higher operating expenses. Smartphone gross margin was at 11.5%, below expectations, while EV gross margin was at 26%, exceeding expectations due to higher average selling prices. AIoT segment grew by 45% YoY, indicating strong ecosystem progress [5][5][5] - **Cochlear Limited** is projected to see a 16% compound annual growth in CI volume for FY26E, driven by new implants and updated processors. The company is ahead of conservative guidance, indicating strong long-term profitability potential [7][7][7] - **Amcor Limited** faced a challenging 4Q25 with a 1.7% decline in volumes, particularly in the US market. The company noted that consumer behavior is shifting towards value-seeking, which may delay volume recovery. Guidance appears conservative, reflecting only minor synergies [8][8][8] - **JD Health** exceeded expectations due to a stronger performance in its branded drug business and disciplined investments in O2O and AI. The company experienced notable gross margin expansion and raised its price target to HK$88, maintaining its position as a top pick [13][13][13] - **Bharti Airtel** implemented tariff adjustments aimed at increasing data usage, which could lead to a 4-8% improvement in average revenue per user (ARPU). The company is viewed positively for its focus on subscriber monetization [14][14][14] - **GDS Holdings Ltd** reported a 12.4% revenue growth and an 11.2% EBITDA growth in 2Q25, with strong demand in China. The company is on track to meet its international power commitments ahead of schedule [15][15][15] - **Seek Limited** upgraded to a Buy rating due to expected margin expansion in 2H25 and strong yield growth despite volume declines. The macro environment is stabilizing, and the valuation is considered reasonable [11][11][11] - **oOh!media Ltd** delivered an in-line 1H25 result but had disappointing 3Q pacings. However, expectations for 4Q revenue growth are optimistic, and new contracts are expected to offset losses [12][12][12] - **DigiCo Infrastructure REIT** expressed concerns about the outlook for Australian data centers, highlighting risks of customer churn and sustainability of high interconnection revenue [10][10][10] Other Important but Possibly Overlooked Content - The **India Strategy** indicates a potential GST rate rationalization expected in 4QCY25, with significant savings on GST compensation providing fiscal space for rate adjustments [3][3][3] - **China Economics** suggests that liquidity factors will be crucial for market performance in 3Q25, with a potential shift back to high-dividend stocks if liquidity tightens [4][4][4] - The **US Insights** report indicates resilience in the US economy, with a significant percentage of companies beating earnings expectations, particularly in AI and financial sectors [18][18][18] - The **Indonesia Strategy** outlines a proposed reduction in fiscal deficit and optimistic revenue targets to support government spending, with GDP growth expectations set higher for 2026 [17][17][17]

Group 1 - Amcor plc's shares are currently little changed after a significant decline due to a weak earnings report, with traders anticipating a potential reversal as the stock approaches a support level [1] - The concept of being 'oversold' occurs when emotional selling drives a stock below its typical trading range, creating potential trading opportunities [2] - Many trading strategies are based on the idea of reversion to the mean, where oversold stocks attract buyers anticipating a price increase, thereby exerting upward pressure on the stock [3] Group 2 - To determine if a stock is oversold, Bollinger Bands can be used, with a stock falling below two standard deviations of the 20-day moving average considered oversold [4] - Amcor is nearing the $8.30 level, which has historically been a point of reversal, indicating a potential for a price increase as buyers may enter the market [6] - The proximity to support levels suggests a good chance for Amcor to reverse and move higher, driven by buyer competition [7]

Part I [Business](index=6&type=section&id=Item%201.%20Business) Amcor, a global leader in consumer packaging, operates through flexible and rigid packaging segments post-merger with Berry Global Group, Inc., focusing on customer-centricity, sustainability, and portfolio optimization - On April 30, 2025, Amcor completed its merger with Berry Global Group, Inc. Under the agreement, Berry shareholders received **7.25 Amcor ordinary shares** for each share of Berry common stock[17](index=17&type=chunk) - The company's business strategy is centered on three core elements: a customer-first mindset, leadership in sustainability and innovation, and optimizing its portfolio towards high-growth, high-margin categories[18](index=18&type=chunk)[19](index=19&type=chunk)[21](index=21&type=chunk) Segment Contribution to Net Sales (Fiscal Year 2025) | Segment | Percentage of Consolidated Net Sales | Employees | Manufacturing Facilities | Countries | | :--- | :--- | :--- | :--- | :--- | | **Global Flexible Packaging Solutions** | ~72% | ~42,000 | 210 | 36 | | **Global Rigid Packaging Solutions** | ~28% | ~34,000 | 213 | 34 | - Amcor has made significant sustainability commitments, including designing all packaging to be recyclable, compostable, or reusable **by 2025**, using **30% recycled materials by 2030**, and achieving **net zero emissions by 2050**[32](index=32&type=chunk)[35](index=35&type=chunk) - Post-merger, the company expects to spend approximately **$180 million annually** on research and development (R&D) and holds over **7,000 patents**, registered designs, and trademarks[33](index=33&type=chunk) Human Capital Overview (as of June 30, 2025) | Metric | Value | | :--- | :--- | | **Total Employees** | ~77,000 | | **Regional Breakdown** | North America (38%), EMEA (35%), Latin America (12%), Asia Pacific (15%) | | **Collective Bargaining Coverage** | ~37% | [Risk Factors](index=13&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from the Berry merger integration, increased indebtedness, shifts in consumer demand, raw material price volatility, cybersecurity threats, potential goodwill impairment, and evolving ESG regulations - Risks related to the Berry merger include difficulties in integrating the two complex businesses, retaining key personnel, harmonizing corporate cultures, and realizing expected synergies[67](index=67&type=chunk)[73](index=73&type=chunk) - The combined company had **$14.1 billion of debt** outstanding as of June 30, 2025, which may limit operational flexibility and increase borrowing costs[74](index=74&type=chunk) - The company faces strategic risks from shifts in consumer preferences towards more sustainable packaging, potential loss of key customers, and intense competition on price, innovation, and quality[78](index=78&type=chunk)[80](index=80&type=chunk)[83](index=83&type=chunk) - Operational risks include challenging global economic conditions, complexities of international operations with **25% of sales from emerging markets**, and price fluctuations or shortages of key raw materials like polymer resins and aluminum[88](index=88&type=chunk)[91](index=91&type=chunk)[98](index=98&type=chunk) - The company is exposed to cybersecurity risks, including cyber-attacks and IT system disruptions, heightened by geopolitical instability and the integration of Berry's systems[112](index=112&type=chunk)[115](index=115&type=chunk) - As of June 30, 2025, the company had **$18.7 billion of goodwill** and other intangible assets, primarily from the merger, where a significant impairment would materially affect financial results[123](index=123&type=chunk) - The company faces increasing legal and compliance risks from evolving ESG regulations, including climate-related rules, extended producer responsibility (EPR) programs, and restrictions on substances like PFAS[133](index=133&type=chunk)[135](index=135&type=chunk) [Unresolved Staff Comments](index=27&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the Securities and Exchange Commission - None [Cybersecurity](index=27&type=section&id=Item%201C.%20Cybersecurity) The company's cybersecurity governance involves Board and Audit Committee oversight, with a CISO leading a NIST-based program that includes assessments, training, and vendor risk management, actively integrating Berry's systems post-merger - Cybersecurity oversight is shared by the Board of Directors, the Audit Committee, and management, with the CISO having over **20 years of experience** leading the enterprise-wide information security strategy[151](index=151&type=chunk)[152](index=152&type=chunk) - The company has implemented a cybersecurity program based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework to manage risks[153](index=153&type=chunk) - Integration efforts are underway to unify the cybersecurity risk programs of Amcor and the recently acquired Berry, focusing on harmonizing policies, processes, and operations[150](index=150&type=chunk) [Properties](index=28&type=section&id=Item%202.%20Properties) As of June 30, 2025, the company operates 423 manufacturing and support facilities across its two segments, with the majority being owned Manufacturing and Support Facilities (as of June 30, 2025) | Segment | Number of Facilities | Ownership Status | | :--- | :--- | :--- | | **Global Flexible Packaging Solutions** | 210 | ~75% owned, ~25% leased | | **Global Rigid Packaging Solutions** | 213 | ~55% owned, ~45% leased | [Legal Proceedings](index=28&type=section&id=Item%203.%20Legal%20Proceedings) Information regarding legal proceedings is provided in Note 20 of the notes to the consolidated financial statements - Refer to Note 20, "Contingencies and Legal Proceedings," of the notes to consolidated financial statements for information about legal proceedings[159](index=159&type=chunk) [Mine Safety Disclosures](index=28&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable Part II [Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities](index=29&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Shareholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Amcor's ordinary shares trade on the NYSE and its CDIs on the ASX, with **92,040 registered holders** as of June 30, 2025, and no share repurchases during the quarter, with a performance graph showing cumulative total shareholder return - The company's ordinary shares are traded on the New York Stock Exchange (NYSE) under the symbol **AMCR**, and its CHESS Depositary Instruments (CDIs) are traded on the Australian Securities Exchange (ASX) under the symbol **AMC**[161](index=161&type=chunk) - No shares were repurchased during the three months ended June 30, 2025, and there were no outstanding approved share repurchase programs during that period[162](index=162&type=chunk) Cumulative Total Shareholder Return (Assuming $100 Invested on June 30, 2020) | Date | Amcor plc | S&P 500 | S&P 500 Materials | S&P/ASX 200 | Peer Group | | :--- | :--- | :--- | :--- | :--- | :--- | | **June 30, 2020** | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | | **June 30, 2025** | $112.74 | $215.89 | $172.77 | $177.69 | $126.58 | [Reserved](index=31&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal year 2025, Amcor's financial performance was significantly shaped by the merger with Berry Global Group, Inc., resulting in increased net sales to **$15.0 billion** but decreased net income to **$511 million**, with strong liquidity despite increased net debt to **$13.3 billion** - The merger with Berry Global Group, Inc. was completed on April 30, 2025, for a purchase consideration of **$10.4 billion**, with Amcor assuming approximately **$5.2 billion of Berry's debt**[171](index=171&type=chunk) - The company targets realizing approximately **$530 million of pre-tax synergies** from the Berry merger by the end of fiscal year 2028, with an estimated total pre-tax cash cost of **$280 million** for restructuring and integration[172](index=172&type=chunk) Consolidated Results of Operations (FY2025 vs. FY2024) | Metric | FY2025 ($ in millions) | FY2024 ($ in millions) | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | 15,009 | 13,640 | +10% | | **Operating Income** | 1,009 | 1,214 | -17% | | **Net Income attributable to Amcor plc** | 511 | 730 | -30% | | **Diluted EPS** | $0.320 | $0.505 | -37% | Segment Performance (FY2025 vs. FY2024) | Segment | Net Sales (FY25, $ in millions) | Sales Change (%) | Adjusted EBIT (FY25, $ in millions) | EBIT Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Global Flexible Packaging Solutions** | 10,872 | +5% | 1,458 | +5% | | **Global Rigid Packaging Solutions** | 4,137 | +25% | 375 | +45% | Cash Flow Summary (FY2025 vs. FY2024) | Cash Flow Activity | FY2025 ($ in millions) | FY2024 ($ in millions) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | 1,390 | 1,321 | | **Net cash used in investing activities** | (2,102) | (476) | | **Net cash provided by/(used in) financing activities** | 910 | (857) | - Net debt increased significantly to **$13.3 billion** as of June 30, 2025, from **$6.1 billion** at June 30, 2024, primarily due to the Berry merger[219](index=219&type=chunk)[199](index=199&type=chunk) - Critical accounting estimates include business combinations (especially valuing intangible assets from the Berry merger), pension obligations, impairment testing of goodwill and other intangible assets, and deferred taxes[236](index=236&type=chunk)[242](index=242&type=chunk)[249](index=249&type=chunk)[254](index=254&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks including interest rate, foreign exchange, commodity price, and credit risk, using derivatives to manage these exposures, with a **1% increase in floating interest rates** impacting pre-tax income by **$24 million** and a **1% increase in raw material prices** reducing pre-tax income by **$97 million** - A hypothetical **1% increase** in the floating interest rate would result in an adverse impact on income before income taxes of **$24 million** for fiscal year 2025[259](index=259&type=chunk) - The company is exposed to foreign exchange risk, where a hypothetical **1% adverse change** in the Euro exchange rate would have impacted FY2025 net sales by **$26 million**, with operations in Argentina also posing currency risk[260](index=260&type=chunk)[261](index=261&type=chunk) - A hypothetical **1% increase** in the average prices of primary raw materials (e.g., polymer resins, aluminum) not passed on to customers would have resulted in an adverse impact on pre-tax income of approximately **$97 million** for fiscal year 2025[265](index=265&type=chunk) [Financial Statements and Supplementary Data](index=50&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the company's audited consolidated financial statements for fiscal years 2023-2025 and accompanying notes, with an unqualified auditor opinion on financial statements and internal controls, excluding the recently acquired Berry Global Group, Inc. from the internal control audit - The independent auditor, PricewaterhouseCoopers AG, issued an unqualified opinion on the consolidated financial statements and the effectiveness of internal control over financial reporting as of June 30, 2025[271](index=271&type=chunk) - The audit of internal control over financial reporting excluded the recently acquired Berry Global Group, Inc., which represented **36.0% of total assets** and **10.6% of total revenues** for the year ended June 30, 2025[275](index=275&type=chunk) - The auditor identified the "Acquisition of Berry Global Group, Inc. – Valuation of Customer Relationships" as a Critical Audit Matter due to the significant management judgment and high degree of auditor subjectivity involved in estimating the fair value of the **$5.5 billion** in acquired customer relationships[280](index=280&type=chunk)[281](index=281&type=chunk) Key Financial Statement Data (in millions) | Account | June 30, 2025 ($) | June 30, 2024 ($) | | :--- | :--- | :--- | | **Total Assets** | $37,066 | $16,524 | | **Total Liabilities** | $25,326 | $12,571 | | **Total Shareholders' Equity** | $11,740 | $3,953 | | **Net Cash from Operations (FY25)** | $1,390 | $1,321 | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=124&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None [Controls and Procedures](index=124&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures and internal control over financial reporting were effective as of June 30, 2025, with the latter assessment excluding the recently acquired Berry business - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[557](index=557&type=chunk) - Management concluded that the company maintained effective internal control over financial reporting as of June 30, 2025, with the independent auditor's report concurring with this assessment[560](index=560&type=chunk)[561](index=561&type=chunk) - The assessment of internal control over financial reporting for the fiscal year ended June 30, 2025, excluded the recently acquired Berry business, which was acquired on April 30, 2025[559](index=559&type=chunk) [Other Information](index=126&type=section&id=Item%209B.%20Other%20Information) During the fourth quarter of fiscal 2025, no director or Section 16 officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - No director or Section 16 officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[563](index=563&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=126&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable Part III [Directors, Executive Officers and Corporate Governance](index=126&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors and corporate governance is incorporated by reference from the company's definitive proxy statement, which will be filed within 120 days of the fiscal year-end - Required information is incorporated by reference from the definitive Proxy Statement for the 2025 Annual Shareholder Meeting[565](index=565&type=chunk) [Executive Compensation](index=127&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's definitive proxy statement, which will be filed within 120 days of the fiscal year-end - Required information is incorporated by reference from the definitive Proxy Statement for the 2025 Annual Shareholder Meeting[569](index=569&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters](index=127&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Shareholder%20Matters) This section provides details on equity compensation plans as of June 30, 2025, with further information regarding security ownership incorporated by reference from the company's definitive proxy statement Equity Compensation Plans (as of June 30, 2025) | Plan Category | Securities to be Issued Upon Exercise (a) | Weighted-Average Exercise Price (b) | Securities Remaining for Future Issuance (c) | | :--- | :--- | :--- | :--- | | **Approved by security holders** | 62,379,640 | $10.17 | 35,901,203 | | **Not approved by security holders** | 0 | N/A | 0 | | **Total** | 62,379,640 | $10.17 | 35,901,203 | - Additional required information is incorporated by reference from the definitive Proxy Statement for the 2025 Annual Shareholder Meeting[572](index=572&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=127&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from the company's definitive proxy statement, which will be filed within 120 days of the fiscal year-end - Required information is incorporated by reference from the definitive Proxy Statement for the 2025 Annual Shareholder Meeting[573](index=573&type=chunk) [Principal Accountant Fees and Services](index=127&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's definitive proxy statement, which will be filed within 120 days of the fiscal year-end - Required information is incorporated by reference from the definitive Proxy Statement for the 2025 Annual Shareholder Meeting[574](index=574&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=128&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the financial statements, financial statement schedules, and exhibits filed as part of the Form 10-K, including the Report of the Independent Registered Public Accounting Firm, consolidated financial statements, and a comprehensive list of exhibits - This section contains the list of all financial statements, schedules, and exhibits filed with the Form 10-K[575](index=575&type=chunk) - Financial Statement Schedule II - Valuation and Qualifying Accounts and Reserves is included in the filing[575](index=575&type=chunk) [Form 10-K Summary](index=135&type=section&id=Item%2016.%20Form%2010-K%20Summary) No Form 10-K summary is provided - None

Core Insights - Amcor Plc reported fourth-quarter fiscal 2025 adjusted earnings per share (EPS) of 20 cents, missing the Zacks Consensus Estimate of 21 cents, and down from 21 cents in the same quarter of the previous year [1] - Total revenues for the quarter were $5.08 billion, below the Zacks Consensus Estimate of $5.17 billion, but up 43.8% year over year [2] - The company experienced a gross margin contraction to 17.6% from 21.3% in the prior-year quarter due to a significant increase in the cost of sales [3] Financial Performance - Adjusted operating income for the quarter was $611 million, reflecting a 34.6% increase from $454 million in the prior-year quarter, with an adjusted operating margin of 12% compared to 12.8% previously [4] - Adjusted EBITDA for the quarter was $789 million, up from $550 million in the fourth quarter of fiscal 2024, with an adjusted EBITDA margin of 15.5% [5] - The cost of sales rose 50.6% year over year to $4.19 billion, while gross profit increased 18.7% to $895 million [3] Segment Performance - The Global Flexible Packaging Solutions segment reported net sales of $3.21 billion, a 19.3% increase year over year, with adjusted operating income rising 11.7% to $450 million [7] - The Global Rigid Packaging Solutions segment saw net sales skyrocket 121.1% to $1.88 billion, with adjusted operating income up 172% to $204 million, driven by acquired sales [8] Cash Flow and Balance Sheet - As of the end of fiscal 2025, Amcor had $827 million in cash and cash equivalents, an increase from $588 million at the end of fiscal 2024, and generated $1.39 billion in cash from operating activities [9] - The company reported an adjusted free cash outflow of $926 million for fiscal 2025, slightly improved from $952 million in the previous fiscal year [9] Fiscal Year Overview - For fiscal 2025, Amcor reported an adjusted EPS of 71 cents, missing the Zacks Consensus Estimate of 73 cents, but improved 1% year over year [11] - Total revenues for fiscal 2025 increased 9% year over year to $15.01 billion, exceeding the consensus estimate of $14.88 billion [12] Future Guidance - Amcor expects adjusted EPS for fiscal 2026 to be in the range of 80-83 cents and projects free cash flow of $1.8-1.9 billion [13] Stock Performance - Over the past year, Amcor shares have declined by 2%, compared to a 3.7% drop in the industry [14]

Core Insights - Amcor reported $5.08 billion in revenue for the quarter ended June 2025, marking a year-over-year increase of 43.8% [1] - The EPS for the same period was $0.20, slightly down from $0.21 a year ago [1] - Revenue fell short of the Zacks Consensus Estimate of $5.17 billion, resulting in a surprise of -1.76% [1] - The company experienced an EPS surprise of -4.76%, with the consensus EPS estimate being $0.21 [1] Financial Performance Metrics - Net Sales for Flexible Packaging reached $3.21 billion, exceeding the two-analyst average estimate of $2.71 billion, representing a year-over-year change of +19.3% [4] - Net Sales for Rigid Packaging amounted to $1.88 billion, significantly surpassing the $765.86 million average estimate, with a year-over-year change of +121.1% [4] - Adjusted EBIT for Flexibles was reported at $450 million, compared to the average estimate of $410.01 million [4] - Adjusted EBIT for Rigid Packaging was $204 million, exceeding the average estimate of $68.86 million [4] - Corporate expenses showed an adjusted EBIT of -$43 million, compared to the average estimate of -$29.78 million [4] Stock Performance - Amcor's shares have returned +5.1% over the past month, outperforming the Zacks S&P 500 composite's +3.5% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]