Amcor(AMCR)

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Amcor(AMCR) - 2023 Q4 - Annual Report
2023-08-17 10:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-38932 AMCOR PLC (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...
Amcor(AMCR) - 2023 Q4 - Earnings Call Transcript
2023-08-17 00:37
Amcor plc (NYSE:AMCR) Q4 2023 Results Conference Call August 16, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head, IR Ron Delia - CEO Michael Casamento - CFO Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Brook Campbell - Barrenjoe Cameron McDonald - E&P Adam Samuelson - Goldman Sachs Sam Seow - Citibank Daniel Kang - CLSA Richard Johnson - Jefferies John Purtell - Macquarie Nathan Reilly - UBS James Wilson - Jarden Australia Scott Ryall - Rimor Operator L ...
Amcor(AMCR) - 2023 Q3 - Quarterly Report
2023-05-03 10:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-38932 AMCOR PLC (Exact name of Registrant as specified in its charter) Jersey 98-1455367 (State or other jurisdiction ...
Amcor(AMCR) - 2023 Q3 - Earnings Call Transcript
2023-05-03 02:38
Amcor plc (NYSE:AMCR) Q3 2023 Results Conference Call May 2, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head of Investor Relations Ron Delia - Chief Executive Officer Michael Casamento - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Anthony Pettinari - Citi Keith Chau - MST Daniel Kang - CLSA Adam Samuelson - Goldman Sachs John Purtell - Macquarie Richard Johnson - Jefferies Kyle White - Deutsche Bank Jacob Cakarnis - Jordan Brook Campbell-Crawford - Bar & Joy Na ...
Amcor(AMCR) - 2023 Q2 - Quarterly Report
2023-02-08 11:21
Financial Performance - Net sales for the three months ended December 31, 2022, increased by $135 million (4%) to $3,642 million compared to $3,507 million in the same period in 2021[127] - Net income attributable to Amcor plc increased by $234 million (104%) to $459 million for the three months ended December 31, 2022, driven by a $215 million pre-tax net gain from the disposal of the Russian business[128] - Diluted earnings per share (Diluted EPS) increased by $0.159 (107%) to $0.307 for the three months ended December 31, 2022, compared to $0.148 in the same period in 2021[128] - Gross profit for the three months ended December 31, 2022, was $662 million (18.2% of net sales), up from $645 million (18.4%) in the same period in 2021[116] - Operating income for the three months ended December 31, 2022, was $559 million (15.3% of net sales), a significant increase from $322 million (9.2%) in the same period in 2021[116] - Net sales for the six months ended December 31, 2022, increased by $427 million (6%), with a 2% increase excluding raw material costs, currency impacts, and acquisition impacts[140] - Net income attributable to Amcor plc increased by $264 million (62%) for the six months ended December 31, 2022, mainly due to a $215 million pre-tax net gain from the disposal of the Russian business[141] - Net income attributable to Amcor plc for the six months ended December 31, 2022 was $691 million, up from $427 million in the same period in 2021[155] - Adjusted EBIT for the six months ended December 31, 2022 was $791 million, compared to $769 million in the same period in 2021[155] Segment Performance - The Flexibles segment's net sales increased by $99 million (4%) to $2,812 million for the three months ended December 31, 2022, compared to $2,713 million in the same period in 2021[129] - Adjusted EBIT for the Flexibles segment was $353 million (12.6% of net sales) for the three months ended December 31, 2022, compared to $352 million (13.0%) in the same period in 2021[129] - Rigid Packaging Segment net sales increased by $36 million (4%) in Q4 2022, but decreased by $37 million (5%) excluding raw material cost pass-through and currency impacts[131] - Adjusted EBIT for Q4 2022 increased by $2 million (5%), with a 6% increase excluding currency impacts, driven by a 48% favorable price/mix[132] Disposal of Russian Business - The company sold its Russian manufacturing facilities for net cash proceeds of $365 million, with a pre-tax net gain of $215 million[123] - Restructuring and related activities, net, changed by $223 million in Q4 2022, mainly due to a $215 million pre-tax net gain from the disposal of the Russian business[135] Costs and Expenses - Consolidated gross profit increased by $17 million (3%) in Q4 2022, with gross profit as a percentage of net sales decreasing to 18.2% due to higher raw material costs[133] - Selling, general, and administrative expenses decreased by $5 million (2%) in Q4 2022, primarily due to positive currency impacts[134] - Interest expense increased by $40 million (103%) in Q4 2022, driven by higher interest rates on variable rate debt[136] - Interest expense increased by $59 million, or 75%, for the six months ended December 31, 2022, compared to the same period in 2021, driven by higher interest rates on variable rate debt[149] Tax and Income Mix - Effective income tax rate decreased by 14.3 percentage points in Q4 2022, primarily due to differences in income mix and discrete events[138] - The effective tax rate for the six months ended December 31, 2022 decreased by 10.7 percentage points to 11.6%, primarily due to differences in income mix and discrete events[150][151] Debt and Financing - Net debt increased to $6,065 million as of December 31, 2022, up from $5,715 million as of June 30, 2022[159] - Net debt as of December 31, 2022, was $6.1 billion, compared to $5.7 billion as of June 30, 2022[178] - Undrawn credit facilities available as of December 31, 2022, amounted to $0.9 billion, with senior facilities maturing in April 2025 and April 2027[179] - The company entered into interest rate swap contracts for a total notional amount of $1.25 billion, with a weighted average fixed rate of 4.53%[176] Share Repurchases and Dividends - The company plans to repurchase up to $100 million in additional shares and use the remaining cash from the Russian business sale to reduce net debt[124] - The Board of Directors approved a $400 million share buyback program, with $40 million repurchased during the six months ended December 31, 2022[182] - Cash outflows for share purchases in the open market and using forward contracts totaled $221 million for the six months ended December 31, 2022[183] - The company held treasury shares at a cost of $18 million, representing 2 million shares as of December 31, 2022[183] - The company declared and paid cash dividends of $0.12 per ordinary share in Q1 FY2022 and $0.1225 per ordinary share in Q2 FY2022[180] Cash Flow - Net cash provided by operating activities decreased by $178 million for the six months ended December 31, 2022, compared to the same period in 2021, primarily due to higher working capital outflows[174] - Net cash used in/provided by investing activities increased by $289 million for the six months ended December 31, 2022, driven by disposal proceeds from the sale of the Russian business, partially offset by acquisitions and investments[174] - Net cash used in financing activities decreased by $145 million for the six months ended December 31, 2022, due to lower share buybacks and net debt drawdowns[175] Obligor Group Performance - The Obligor Group, consisting of Amcor plc and its guarantor subsidiaries, reported a net loss of $244 million for the six months ended December 31, 2022[166] - Total assets of the Obligor Group decreased to $12,554 million as of December 31, 2022, from $13,711 million as of June 30, 2022[167] - Total liabilities of the Obligor Group decreased to $18,536 million as of December 31, 2022, from $19,748 million as of June 30, 2022[167]
Amcor(AMCR) - 2023 Q2 - Earnings Call Transcript
2023-02-08 03:43
Amcor plc (NYSE:AMCR) Q2 2023 Results Conference Call February 7, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head of Investor Relations Ron Delia - Chief Executive Officer Michael Casamento - Chief Financial Officer Conference Call Participants Anthony Pettinari - Citi John Purtell - Macquarie Asset Management George Staphos - Bank of America Larry Gandler - Credit Suisse Ghansham Panjabi - Baird Daniel Kang - CLSA Adam Samuelson - Goldman Sachs Nathan Reilly - UBS Mike Roxland - Truist Securit ...
Amcor(AMCR) - 2023 Q1 - Earnings Call Transcript
2022-11-02 01:29
Amcor plc (NYSE:AMCR) Q1 2023 Earnings Conference Call November 1, 2022 5:30 PM ET Company Participants Tracey Whitehead - Head, IR Ron Delia - Managing Director and CEO Michael Casamento - EVP, Finance, and CFO Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Jakob Cakarnis - Jarden Australia Keith Chau - MST Marquee Kyle White - Deutsche Bank Adam Samuelson - Goldman Sachs Daniel Kang - CLSA Anthony Pettinari - Citi Richard Johnson - Jefferies Mark Wilde - BMO Larry G ...