Core Insights - Amcor reported $5.45 billion in revenue for the quarter ended December 2025, marking a year-over-year increase of 68.1% [1] - The EPS for the same period was $0.86, compared to $0.80 a year ago, indicating a positive growth trend [1] - The revenue reported was a slight miss of -1.75% compared to the Zacks Consensus Estimate of $5.55 billion, while the EPS exceeded the consensus estimate of $0.83 by +3.61% [1] Revenue Performance - Net Sales for Flexible Packaging reached $3.19 billion, slightly above the three-analyst average estimate of $3.18 billion, reflecting a year-over-year change of +27% [4] - Net Sales for Rigid Packaging was reported at $2.26 billion, which was below the estimated $2.32 billion, but showed a significant year-over-year increase of +210.1% [4] Profitability Metrics - Adjusted EBIT for Rigid Packaging was $228 million, compared to the average estimate of $241.92 million from three analysts [4] - Adjusted EBIT for Flexible Packaging was reported at $402 million, slightly below the average estimate of $409.65 million [4] Stock Performance - Amcor's shares have returned +3.4% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Adjusted EPS increased by 7% for the quarter and 14% for the first half, reflecting strong execution against market opportunities [8][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [10][11] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, up from the prior year [11][24] Business Line Data and Key Metrics Changes - Global Flexible Packaging Solutions segment sales increased by 23% on a constant currency basis, while volumes were down approximately 2% [19][20] - Global Rigid Packaging Solutions segment sales also increased significantly, with volumes flat compared to the prior year, excluding non-core businesses [22][23] - Adjusted EBIT for the Flexible segment rose 22% on a constant currency basis to $402 million, while the Rigid segment's adjusted EBIT was $228 million, up over last year [21][23] Market Data and Key Metrics Changes - In developed regions, volume trends were down low- to mid-single digits, with Europe being more challenged than North America [20][22] - Emerging markets showed low single-digit growth in Asia Pacific, offset by lower volumes in Latin America [20] - Focus categories such as pet food and meat proteins performed better than the broader portfolio, while other categories like liquids and unconverted film and foil saw lower volumes [20][21] Company Strategy and Development Direction - The company is focused on delivering core business performance, accelerating synergy realization, and optimizing its portfolio, particularly the $2.5 billion of non-core businesses [9][10] - The acquisition of Berry is seen as a transformative step, positioning the company for long-term growth and value creation [5][9] - The company aims to deliver at least $260 million of synergies in fiscal 2026 and a total of $650 million by fiscal 2028 [16][28] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while focusing on cost control and productivity improvements [33][34] - The company reaffirmed its financial guidance for the fiscal year, with adjusted EPS expectations updated to $4.00-$4.15 per share [9][25] - Management noted that while the market environment remains challenging, they are well-positioned to capture revenue synergies and improve performance in non-core businesses [40][52] Other Important Information - The company has made significant progress in safety performance, with a total recordable incident rate of 0.52, and 79% of all sites remained injury-free [6][7] - The new CFO, Steve Scherger, has been actively engaged in understanding the business and is expected to contribute to value creation [16][18] Q&A Session Summary Question: Volume expectations for the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for upside from revenue synergies [33][34] Question: Fourth quarter initiatives for guidance confidence - Management highlighted seasonality, synergy growth, and expected improvements in non-core businesses as key drivers for EBIT improvement in the second half [39][40] Question: Volume performance in major categories - Management noted that overall company volumes were down 2.5%, with core portfolio volumes down 1.5%, indicating performance in line with broader industry trends [43][45] Question: Non-core business EBIT expectations - Management expects non-core EBIT margins to return to more traditional levels of 7%-9% in the second half, driven by improved contractual terms and operational performance [55][72] Question: Synergy capture details - Management confirmed that synergy capture was evenly split between G&A and procurement, with expectations for continued ramp-up in the second half [65][66]

Financial Performance - The company reported adjusted EPS growth of 7% for Q2 and 14% for the first half, indicating strong execution against market opportunities [8][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [10][11] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, reflecting a commitment to annualized dividend growth [11][24] Business Segment Performance - In the Global Flexible Packaging Solutions segment, sales increased by 23% on a constant currency basis, driven primarily by the Berry acquisition, although volumes were down approximately 2% [19][20] - The Global Rigid Packaging Solutions segment also saw significant sales growth due to the acquisition, with volumes flat compared to the prior year, indicating a sequential improvement [22][23] - Focus categories such as pet food and meat proteins performed better than the broader portfolio, while other categories like liquids and unconverted film saw lower volumes [20][23] Market Dynamics - Volume trends in developed markets showed low- to mid-single-digit declines, with Europe facing more challenges than North America [20][22] - Emerging markets experienced low single-digit growth in Asia Pacific, offset by declines in Latin America, indicating mixed performance across regions [20][22] - The core portfolio's volume performance was approximately 1.5% lower than the prior year, reflecting market dynamics that remain largely unchanged [12][42] Company Strategy and Competitive Position - The company is focused on delivering core business performance, accelerating synergy realization, and optimizing its portfolio, which includes evaluating alternatives for $2.5 billion of non-core businesses [7][10] - The company aims to deliver at least $260 million in synergies for fiscal 2026, with a total of $650 million expected by fiscal 2028 [16][26] - The core portfolio, which includes health, beauty, wellness, protein, liquids, food service, and pet care, is positioned for sustainable long-term growth [11][12] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while also focusing on cost management [31][32] - The company reaffirmed its financial guidance for fiscal 2026, with adjusted EPS expectations updated to $4.00-$4.15 per share, reflecting a commitment to double-digit EPS growth [9][25] - Management highlighted the importance of customer relationships and the need for a balance between price and volume in the current market environment [76] Other Important Information - The company has made significant progress in integrating the Berry acquisition, with a focus on operational synergies and cost management [15][16] - The new CFO, Steve Scherger, has been actively engaged in understanding the company's strategic priorities and operational capabilities [18][19] Q&A Session Summary Question: Expectations for volume performance in the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for upside from revenue synergies [31][32] Question: Initiatives for fourth quarter guidance - Management highlighted seasonality, synergy growth, and improvements in non-core businesses as key drivers for expected EBIT improvement in the second half [36][37] Question: Volume performance relative to the broader industry - Management noted that overall company volume performance was down 2.5%, which is in line with broader industry trends, with core portfolio volumes down 1.5% [40][42] Question: Improvement expectations for non-core EBIT contribution - Management expects non-core EBIT margins to return to more traditional levels in the second half, with improvements driven by better contractual terms and pricing [50][51] Question: Exit rates on volume performance - Management stated that focus categories collectively outperformed the core business, with pet care showing strong growth and healthcare experiencing some weakness due to a weaker flu season [55][56]

Financial Performance and Key Metrics - Adjusted EPS increased by 7% for the quarter and 14% for the first half, reflecting strong execution against market opportunities [6][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [9][10] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, up from the prior year [10][24] Business Line Performance - Global Flexible Packaging Solutions segment sales increased by 23% on a constant currency basis, driven primarily by the Berry acquisition, although volumes were down approximately 2% [19][20] - Global Rigid Packaging Solutions segment sales also increased significantly on a constant currency basis, with volumes flat compared to the prior year, excluding non-core businesses [21][22] - Focus categories such as pet food and meat proteins showed higher volumes, while other categories like liquids and unconverted film and foil experienced lower volumes [20][45] Market Performance - Volumes in developed regions like North America and Europe were down low- to mid-single digits, with Europe facing more challenges than North America [19][20] - Emerging markets showed low single-digit growth in Asia Pacific, offset by modestly lower volumes in Latin America [19][20] - The core portfolio's volume performance was approximately 1.5% lower than the prior year, with focus categories outperforming the broader portfolio [11][45] Company Strategy and Industry Competition - The company is focused on delivering core business, accelerating synergy realization, and optimizing its portfolio, which includes evaluating alternatives for $2.5 billion of non-core businesses [5][8] - The company aims to deliver at least $260 million of synergies in fiscal 2026 and a total of $650 million by fiscal 2028 [16][26] - The management emphasizes the importance of innovation and leadership positions in core categories to drive long-term consumer demand [11][12] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while focusing on cost control and productivity improvements [32][34] - The company reaffirmed its financial guidance for the fiscal year, with adjusted EPS expectations updated to $4.00-$4.15 per share [7][25] - Management noted that while the market environment remains challenging, there are opportunities for revenue synergies and improved performance in non-core businesses [34][50] Other Important Information - The company has made significant progress in reducing headcount by over 600 as part of its integration roadmap [13] - The acquisition of Berry has positioned the company as a global leader in consumer packaging and dispensing solutions, enhancing its competitive advantage [4][16] Q&A Session Summary Question: Expectations for volume performance in the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for improvement driven by revenue synergies [32][34] Question: Initiatives for the fourth quarter and confidence in guidance - Management highlighted seasonality, synergy growth, and improvements in non-core businesses as key drivers for expected EBIT improvement in the second half [39][40] Question: Volume performance in major categories and market share - Management noted that overall company volumes were down 2.5%, with core portfolio volumes down 1.5%, indicating performance in line with broader industry trends [42][43] Question: EBIT contribution from non-core businesses in the second half - Management expects EBIT margins for non-core businesses to return to more traditional levels of 7%-8%, representing a $50 million improvement compared to the first half [51][52] Question: Impact of GLP-1 on nutrition business - Management acknowledged the potential structural headwind from increased GLP-1 use but emphasized their positioning to support customers in balancing price and volume [86][87]

分组1 - Amcor reported quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and showing an increase from $0.80 per share a year ago, resulting in an earnings surprise of +3.61% [1] - The company posted revenues of $5.45 billion for the quarter ended December 2025, which was 1.75% below the Zacks Consensus Estimate, and a significant increase from $3.24 billion in the same quarter last year [2] - Amcor has surpassed consensus EPS estimates only once in the last four quarters and has not beaten consensus revenue estimates during the same period [2] 分组2 - The stock's immediate price movement will largely depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Amcor shares have increased by approximately 4.9% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $5.81 billion, and for the current fiscal year, it is $4.01 on revenues of $23.11 billion [7] 分组3 - The Containers - Paper and Packaging industry, to which Amcor belongs, is currently ranked in the bottom 21% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - Amcor currently holds a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6]

Fiscal 2026 Second Quarter Results Peter Konieczny Chief Executive Officer Steve Scherger Chief Financial Officer 3 February 2026 5:30pm US EST 4 February 2026 9:30am Australian EDT 1 Disclaimers and Notes Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within th ...

Exhibit 99.1 Amcor Reports Solid Second Quarter Results and Reaffirms Fiscal 2026 Guidance Highlights - Three Months Ended December 31, 2025 Highlights - Fiscal First Half Ended December 31, 2025 Fiscal 2026 Guidance Reaffirmed: | (1)(2)(3) Key Financials | Three Months Ended | | Six Months Ended | | | --- | --- | --- | --- | --- | | | December 31, | | December 31, | | | GAAP results | 2024 $ | 2025 $ | 2024 $ | 2025 $ | | | million | million | million | million | | Net sales | 3,241 | 5,449 | 6,594 | 11,19 ...

Core Insights - Amcor reported solid second quarter results for fiscal 2026, reaffirming its guidance for the year, with strong adjusted EPS growth driven by the Berry acquisition and disciplined execution [1][2][3] Financial Performance - For the three months ended December 31, 2025, net sales reached $5,449 million, a 68% increase year-over-year, primarily due to the Berry acquisition [1][2] - Adjusted EPS for the quarter was $0.86, up 7%, while adjusted EBITDA was $826 million, reflecting an 83% increase [1][2] - Free cash flow for the quarter was $289 million, including $69 million in acquisition-related costs [1][2] Fiscal Guidance - The company reaffirmed its fiscal 2026 guidance, expecting free cash flow between $1.8 billion and $1.9 billion and adjusted EPS in the range of $4.00 to $4.15, indicating a constant currency growth of 12% to 17% [1][2][3] Segment Performance - In the Global Flexible Packaging Solutions segment, net sales for the December 2025 quarter were $3,188 million, a 23% increase year-over-year on a constant currency basis [2][3] - The Global Rigid Packaging Solutions segment saw net sales of $2,264 million, a 200% increase year-over-year on a constant currency basis, driven by the Berry acquisition [3][4] Cost Management - Adjusted EBIT for the three months ended December 31, 2025, was $603 million, a 62% increase year-over-year, with synergy benefits from the Berry acquisition contributing approximately $50 million [1][2][3] - The company reported a GAAP net income of $177 million for the quarter, including acquisition-related costs [1][2] Dividend Declaration - Amcor declared a quarterly dividend of $0.65 per share, reflecting confidence in its growth opportunities and ability to generate significant free cash flow [2][3]

Key Takeaways AMCR will report Q2 FY26 results on Feb. 3, with revenues seen at $5.55B and earnings of 83 cents per share.AMCR's outlook reflects a major revenue boost from the Berry Global merger, offsetting volume pressure.AMCR's segments face volume declines, cushioned by price/mix gains, currency benefits and acquisitions.Amcor Plc (AMCR) is scheduled to report second-quarter fiscal 2026 results on Feb. 3, after the closing bell.The Zacks Consensus Estimate for AMCR’s fiscal second-quarter revenues is p ...

Industry Overview - The Zacks Containers - Paper and Packaging industry is experiencing weak demand due to lower consumer spending amid inflation, leading to volume declines and inventory reductions [4][5] - The industry comprises companies that manufacture various packaging products, serving multiple markets including food, beverage, healthcare, and industrial sectors [3] Current Challenges - Elevated inflation and higher interest rates have dampened consumer spending, impacting demand for packaging in sectors like housing and industrial activities [4] - Companies are facing margin pressure from higher material, labor, and transportation costs, as well as tariffs, prompting them to implement pricing strategies and cost-reduction actions [4][6] Growth Catalysts - E-commerce growth is a significant catalyst for the industry, with increasing online shopping driving demand for durable packaging solutions [5] - The industry has over 60% exposure to consumer-oriented markets, ensuring stable demand for packaging solutions across economic cycles [5] Eco-Friendly Trends - There is a rising preference for environmentally friendly biodegradable packaging materials, driven by consumer awareness of environmental issues [6] - Companies are adopting innovative technologies and incorporating recycled content into their production methods to meet this demand [6] Industry Performance - The Zacks Containers - Paper and Packaging industry currently ranks 198 out of 244 Zacks industries, indicating weak prospects in the near term [7][8] - Over the past year, the industry has underperformed compared to its sector and the S&P 500, declining 7.8% while the sector grew by 16.7% and the S&P 500 gained 18% [9] Valuation Metrics - The industry is trading at a trailing 12-month EV/EBITDA ratio of 12.92X, lower than the S&P 500's 19.00X and the Industrial Products sector's 20.04X [12] - Historically, the industry has traded between 9.78X and 15.06X over the last five years, with a median of 11.57X [17] Company Highlights - **Amcor plc (AMCR)**: Expects $260 million in pre-tax synergies from its merger with Berry Global Group, projecting 12% adjusted EPS accretion by fiscal 2026 [18] - **Karat Packaging (KRT)**: Anticipates $20 million in annual revenues from new paper bag supplies, focusing on eco-friendly innovations to strengthen its market position [22] - **Sonoco Products Company (SON)**: Completed the sale of its ThermoSafe business, streamlining operations and expecting $100 million in run-rate synergies from its acquisition of Eviosys [25]