22nd Century (XXII) - 2025 Q2 - Quarterly Report
2025-08-14 10:31
Table of Contents 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 June 30, 2025 ☐ 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: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) Nevada 98-0468420 (S ...
WORLDWIDE WEBB(WWAC) - 2025 Q2 - Quarterly Results
2025-08-14 10:30
Exhibit 99.1 Aeries Technology, Inc. Reports Results for the Full Fiscal Year 2025 Beats Core Adjusted EBITDA Guidance, North America Revenue Up 15% Year-Over-Year. NEW YORK, July 02, 2025 - Aeries Technology, Inc. ("Aeries" or "the Company") (Nasdaq: AERT), a global leader in AI-enabled value creation, business transformation, and Global Capability Center (GCC) delivery for private equity (PE) portfolio companies, today announced financial results for the fiscal year ended March 31, 2025. As previously com ...
Aeries Technology(AERT) - 2025 Q2 - Quarterly Results
2025-08-14 10:30
Financial Performance - Aeries Technology reported fiscal year 2025 revenues of $70.2 million, a decrease of 3.2% from $72.5 million in fiscal year 2024[4] - The company achieved a Core Adjusted EBITDA of $7.4 million for fiscal year 2025, representing a 365% increase compared to $1.6 million in fiscal year 2024[6] - Aeries experienced a net loss of $21.6 million in fiscal year 2025, compared to a net income of $17.3 million in fiscal year 2024[5] - Adjusted EBITDA for fiscal year 2025 was $(4.7) million, down from $9.2 million in fiscal year 2024[6] - Aeries has reiterated its revenue guidance for fiscal year 2026, projecting between $74 million and $80 million[7] - The company expects Adjusted EBITDA for fiscal year 2026 to be between $6 million and $8 million[7] Market Focus and Strategy - Aeries has exited non-core geographies, including the Middle East, to focus on its core North American market[3] - The company plans to discontinue reporting Core Adjusted EBITDA as a financial metric starting in FY2026, focusing instead on Adjusted EBITDA and GAAP results[2] Profitability and Margins - The gross profit margin for fiscal year 2025 was 24%, down from 30% in fiscal year 2024[16] Cash Flow and Assets - Cash and Cash Equivalents increased by 33% from $2,084 million in 2024 to $2,764 million in 2025[22] - Net cash used in operating activities decreased by 77%, from $(4,299) million in 2024 to $(1,009) million in 2025[22] - Total current assets decreased by 35% from $32,836 million in 2024 to $21,327 million in 2025[24] - Accounts receivable decreased significantly by 54% from $23,757 million in 2024 to $10,982 million in 2025[24] - Operating right-of-use assets increased by 31% from $7,318 million in 2024 to $9,602 million in 2025[24] - Deferred tax assets increased by 110% from $1,933 million in 2024 to $4,064 million in 2025[24] Liabilities and Shareholder Equity - Total liabilities decreased by 9% from $50,587 million in 2024 to $45,937 million in 2025[24] - Shareholders' deficit improved from $(12,240) million in 2024 to $(5,804) million in 2025, a reduction of 53%[24] Financing Activities - Net cash provided by financing activities decreased by 66%, from $7,056 million in 2024 to $2,432 million in 2025[22] Exchange Rate Effects - Effects of exchange rates on cash improved significantly by 280%, from $(64) million in 2024 to $115 million in 2025[22]
LG Display (LPL) - 2025 Q2 - Quarterly Report
2025-08-14 10:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6‑K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a‑16 OR 15d‑16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2025 LG Display Co., Ltd. (Translation of Registrant's name into English) LG Twin Towers, 128 Yeoui‑daero, Yeongdeungpo‑gu, Seoul 07336, Republic of Korea (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20 ...
QXO, Inc(QXO) - 2025 Q2 - Quarterly Results
2025-08-14 10:28
Exhibit 99.1 QXO Reports Second Quarter 2025 Results GREENWICH, Conn. — August 14, 2025 — QXO, Inc. ("QXO" or the "Company") (NYSE: QXO) today announced its financial results for the second quarter 2025. The Company reported a basic and diluted loss per common share of $(0.15) and an Adjusted Diluted Earnings per Common Share ("Adjusted Diluted EPS"), a non-GAAP financial measure, of $0.11 for the three months ended June 30, 2025. SECOND QUARTER 2025 SUMMARY RESULTS | | | | Three Months Ended June 30, | | | ...
SilverSun Technologies(SSNT) - 2025 Q2 - Quarterly Results
2025-08-14 10:28
Exhibit 99.1 GREENWICH, Conn. — August 14, 2025 — QXO, Inc. ("QXO" or the "Company") (NYSE: QXO) today announced its financial results for the second quarter 2025. The Company reported a basic and diluted loss per common share of $(0.15) and an Adjusted Diluted Earnings per Common Share ("Adjusted Diluted EPS"), a non-GAAP financial measure, of $0.11 for the three months ended June 30, 2025. SECOND QUARTER 2025 SUMMARY RESULTS | | | | Three Months Ended June 30, | | | --- | --- | --- | --- | --- | | (in mil ...
Addentax(ATXG) - 2026 Q1 - Quarterly Report
2025-08-14 10:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _________________ Commission File No. 001-41478 ADDENTAX GROUP CORP. (Exact name of registrant as specified in its charter) Washington, D.C. 20549 (State or other jurisdiction of ...
22nd Century (XXII) - 2025 Q2 - Quarterly Results
2025-08-14 10:15
Exhibit 99.1 22nd Century Group Reports Second Quarter 2025 Financial Results VLN® Early Adoption Commercial Activity Expands with Two Partner Brand Launches in Progress – Smoker Friendly and Pinnacle Commenced Pinnacle VLN® Stocking Shipments for Almost 1,000 Locations of Top-5 C-Store Customer, Additional Locations to Come Significantly Expanded State Authorizations for both Reduced Nicotine Content and Conventional Products High Margin Branded Products Business Model Set to Grow Profitably MOCKSVILLE, N. ...
Battalion Oil(BATL) - 2025 Q2 - Quarterly Results
2025-08-14 10:15
[Overview of Second Quarter 2025 Results](index=1&type=section&id=Overview%20of%20Second%20Quarter%202025%20Results) [Key Highlights & Management Comments](index=1&type=section&id=Key%20Highlights%20%26%20Management%20Comments) Battalion Oil successfully completed its 2025 six-well drilling plan ahead of schedule and under budget, with new wells showing strong initial production. However, the company faces a significant operational challenge due to the abrupt shutdown of its primary acid gas injection (AGI) facility, forcing a temporary shut-in of production - Completed the 2025 six-well drilling plan, with the final two wells in the West Quito area drilled ahead of schedule and approximately **$1.0 million per well under budget**[2](index=2&type=chunk) - Initial production rates from the new wells are outperforming legacy offset wells, which have also seen increased production due to positive frac interference[2](index=2&type=chunk) - The Acid Gas Injection (AGI) facility, which treated an average of **24 MMcf/d**, ceased operations on August 11, 2025, citing economic non-viability. This has forced the company to temporarily shut in some production and seek alternative gas processing solutions[3](index=3&type=chunk) [Financial & Operating Performance](index=1&type=section&id=Financial%20%26%20Operating%20Performance) Q2 2025 revenue decreased to $42.8 million from $49.1 million year-over-year due to lower realized prices, despite a slight production increase to 12,989 Boe/d, resulting in a $3.5 million net loss to common stockholders Q2 2025 vs Q2 2024 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Total Operating Revenue** | $42.8 million | $49.1 million | | **Average Daily Production** | 12,989 Boe/d | 12,857 Boe/d | | **Net Loss to Common Stockholders** | $3.5 million | $8.7 million | | **Adjusted EBITDA** | $18.1 million | $15.6 million | - The decrease in revenue was primarily due to a **$5.93 decrease per Boe** in average realized prices (excluding hedges), partially offset by a **132 Boe/d production increase**[4](index=4&type=chunk) Operating Expenses per Boe (YoY Comparison) | Expense Category | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Lease operating and workover** | $10.98 | $10.22 | | **Gathering and other** | $9.27 | $10.36 | | **General and administrative** | $2.17 | $2.85 | [Liquidity and Balance Sheet](index=3&type=section&id=Liquidity%20and%20Balance%20Sheet) As of June 30, 2025, Battalion Oil reported $44.6 million in cash and cash equivalents, with $219.4 million in outstanding term loan indebtedness Liquidity Position as of June 30, 2025 | Metric | Amount | | :--- | :--- | | **Cash and cash equivalents** | $44.6 million | | **Term loan indebtedness** | $219.4 million | [Financial Statements](index=5&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 total operating revenues were $42.8 million, leading to a net income of $4.8 million, significantly improved from a prior-year net loss, but resulting in a $3.5 million net loss to common stockholders after preferred dividends Q2 2025 Statement of Operations Highlights (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Total operating revenues** | $42,812 | $49,104 | | **(Loss) income from operations** | $(153) | $5,120 | | **Net gain on derivative contracts** | $11,548 | $1,223 | | **Net income (loss)** | $4,796 | $(105) | | **Net loss available to common stockholders** | $(3,474) | $(8,691) | | **Diluted net loss per share** | $(0.21) | $(0.53) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to $498.8 million, driven by higher cash and oil/gas properties, while total liabilities rose to $306.4 million, shifting stockholders' equity to a $5.2 million deficit Balance Sheet Summary (in thousands) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $44,621 | $19,712 | | **Total current assets** | $83,462 | $54,052 | | **Net oil and natural gas properties** | $402,327 | $368,005 | | **Total assets** | $498,781 | $431,048 | | **Total current liabilities** | $90,042 | $77,664 | | **Long-term debt, net** | $191,467 | $145,535 | | **Total stockholders' (deficit) equity** | $(5,236) | $4,120 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly decreased to $10.2 million in Q2 2025, while investing activities used $33.4 million, and financing activities provided $55.4 million for the first six months Cash Flow Summary for Three Months Ended June 30 (in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $10,205 | $29,824 | | **Net cash used in investing activities** | $(33,362) | $(13,857) | | **Net cash (used in) provided by financing activities** | $(5,790) | $(10,478) | | **Net (decrease) increase in cash** | $(28,947) | $5,489 | [Supplemental Information](index=8&type=section&id=Supplemental%20Information) [Selected Operating Data](index=8&type=section&id=Selected%20Operating%20Data) Q2 2025 average daily production slightly increased to 12,989 Boe/d, while crude oil prices dropped, yet post-hedge total realized price per Boe rose, and adjusted total operating costs per Boe decreased Q2 Production Volumes | Production | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Crude oil (MBbls)** | 584 | 577 | | **Natural gas (MMcf)** | 2,136 | 1,929 | | **Total (MBoe)** | 1,182 | 1,170 | | **Average daily production (Boe/d)** | 12,989 | 12,857 | Q2 Average Prices per Unit | Price | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Crude oil (per Bbl)** | $62.14 | $79.20 | | **Total per Boe (pre-hedge)** | $36.02 | $41.95 | | **Total per Boe (post-hedge)** | $39.66 | $39.21 | Q2 Average Costs per Boe | Cost | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Lease operating** | $9.03 | $9.41 | | **Gathering and other** | $9.27 | $10.36 | | **General and administrative (adjusted)** | $2.11 | $2.49 | | **Total operating costs (adjusted)** | $24.49 | $25.93 | [Non-GAAP Reconciliations](index=9&type=section&id=Non-GAAP%20Reconciliations) This section provides detailed reconciliations of GAAP to non-GAAP measures, clarifying adjusted net loss and Adjusted EBITDA by removing non-cash and non-recurring items for a clearer operational performance view [Reconciliation of Net Loss to Adjusted Net Loss](index=9&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20Net%20Loss) Q2 2025 reported net loss of $3.5 million was adjusted to a $10.6 million net loss, or ($0.65) per share, primarily by excluding a $7.2 million non-cash unrealized derivative gain Adjusted Net Loss Reconciliation for Q2 2025 (in thousands) | Metric | Amount | | :--- | :--- | | **Net loss available to common stockholders** | $(3,474) | | **Unrealized gain on derivatives** | $(7,248) | | **Non-recurring charges** | $73 | | **Adjusted net loss available to common stockholders** | $(10,649) | | **Adjusted diluted net loss per share** | $(0.65) | [Adjusted EBITDA Reconciliation](index=10&type=section&id=Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA for Q2 2025 increased to $18.1 million, with the Last Twelve Months (LTM) Adjusted EBITDA reaching $64.7 million as of June 30, 2025 Adjusted EBITDA Reconciliation for Q2 (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Net income (loss), as reported** | $4,796 | $(105) | | **Interest expense** | $7,341 | $7,610 | | **Depletion, depreciation and accretion** | $13,939 | $13,213 | | **Unrealized (gain) on derivatives** | $(7,248) | $(4,434) | | **Adjusted EBITDA** | $18,137 | $15,634 | - Adjusted Last Twelve Months (LTM) EBITDA as of June 30, 2025 was **$64.7 million**[30](index=30&type=chunk)
Amcor(AMCR) - 2025 Q4 - Annual Results
2025-08-14 10:14
[Executive Summary and Financial Highlights](index=1&type=section&id=Executive%20Summary%20and%20Financial%20Highlights) Amcor's fiscal 2025 results highlight the transformative Berry Global acquisition, positioning the company for strong fiscal 2026 earnings and free cash flow growth [Overview and CEO Remarks](index=1&type=section&id=Overview%20and%20CEO%20Remarks) Amcor's CEO emphasized the Berry Global acquisition as a milestone, driving strong fiscal 2026 earnings and free cash flow growth, with integration on track and a $20 billion core portfolio identified - The acquisition of Berry Global is a significant milestone, expected to drive strong adjusted EPS growth of **12-17%** and Free Cash Flow of **$1.8-$1.9 billion** in fiscal 2026[1](index=1&type=chunk) - Integration is progressing well, with synergy targets on track; a strategic portfolio review has identified a **$20 billion core portfolio** focused on consumer packaging and dispensing solutions for nutrition and health[2](index=2&type=chunk) [Fiscal 2025 Performance Highlights](index=1&type=section&id=Fiscal%202025%20Performance%20Highlights) For fiscal 2025, Amcor achieved 11% constant currency net sales growth to $15,009 million, 12% adjusted EBIT growth to $1,723 million, and 3% adjusted EPS growth to 71.2 cents per share Fiscal Year 2025 Highlights | Metric | Value | Constant Currency Growth | | :--- | :--- | :--- | | Net Sales | $15,009 million | 11% | | Adjusted EBITDA | $2,186 million | 13% | | Adjusted EBIT | $1,723 million | 12% | | Adjusted EPS | 71.2 cps | 3% | | Adjusted Free Cash Flow | $926 million | N/A | | Annual Dividend | 51 US cents per share | N/A | [Q4 Fiscal 2025 Performance Highlights](index=1&type=section&id=Q4%20Fiscal%202025%20Performance%20Highlights) Q4 fiscal 2025 results show significant impact from the Berry Global acquisition, with 43% constant currency net sales growth to $5,082 million, a GAAP Net Loss of $39 million, and strong adjusted EBITDA and EBIT growth Q4 Fiscal 2025 Highlights | Metric | Value | Constant Currency Growth | | :--- | :--- | :--- | | Net Sales | $5,082 million | 43% | | GAAP Net Income | ($39) million | N/A | | Adjusted EBITDA | $789 million | 43% | | Adjusted EBIT | $611 million | 34% | [Key Financials Summary](index=1&type=section&id=Key%20Financials%20Summary) This table provides a comparative overview of Amcor's GAAP and adjusted non-GAAP financial metrics for Q4 and full fiscal years 2024 and 2025, reflecting significant top-line growth post-acquisition GAAP and Adjusted Non-GAAP Results (in millions, except EPS) | Metric | Q4 2024 | Q4 2025 | FY 2024 | FY 2025 | | :--- | :--- | :--- | :--- | :--- | | **GAAP Results** | | | | | | Net Sales | $3,535 | $5,082 | $13,640 | $15,009 | | Net Income | $257 | ($39) | $730 | $511 | | EPS (diluted US cents) | 17.8 | (1.9) | 50.5 | 32.0 | | **Adjusted Non-GAAP Results** | | | | | | Net Sales | $3,535 | $5,082 | $13,640 | $15,009 | | EBIT | $454 | $611 | $1,560 | $1,723 | | Net Income | $305 | $408 | $1,015 | $1,136 | | EPS (diluted US cents) | 21.1 | 20.0 | 70.2 | 71.2 | | Free Cash Flow | $837 | $943 | $952 | $926 | [Strategic Developments and Shareholder Returns](index=3&type=section&id=Strategic%20Developments%20and%20Shareholder%20Returns) Amcor completed the Berry Global acquisition, reorganizing into two segments, identifying a core portfolio, and increasing its quarterly cash dividend [Berry Global Acquisition and Integration](index=3&type=section&id=Berry%20Global%20Acquisition%20and%20Integration) Amcor completed the all-stock acquisition of Berry Global on April 30, 2025, targeting $650 million in pre-tax synergies by fiscal 2028, and reorganized into Global Flexible and Rigid Packaging Solutions - The all-stock acquisition of Berry Global was completed on **April 30, 2025**[7](index=7&type=chunk) - Amcor is targeting total pre-tax synergy benefits of **$650 million by the end of fiscal 2028**, with **$260 million expected in fiscal 2026**[10](index=10&type=chunk) - The company has been reorganized into two segments: **Global Flexible Packaging Solutions** and **Global Rigid Packaging Solutions**, combining legacy businesses from both Amcor and Berry Global[9](index=9&type=chunk) [Portfolio Review and Optimization](index=3&type=section&id=Portfolio%20Review%20and%20Optimization) A portfolio review identified a **$20 billion core portfolio** focused on consumer packaging for nutrition and health, while businesses with **$2.5 billion in sales** are under review for strategic alternatives - A review identified a **$20 billion core portfolio** focused on consumer packaging and dispensing solutions for nutrition and health[11](index=11&type=chunk) - Businesses with combined annual sales of approximately **$2.5 billion**, including the **$1.5 billion North America Beverage business**, are considered less aligned with the core portfolio and are under review for strategic alternatives such as restructuring, partnership, or sale[12](index=12&type=chunk) [Shareholder Returns](index=3&type=section&id=Shareholder%20Returns) Amcor's Board declared a quarterly cash dividend of **12.75 cents per share**, increasing the total annual dividend for fiscal 2025 to **51.0 cents per share** Quarterly Dividend Information | Metric | Value | | :--- | :--- | | Quarterly Dividend per Share | 12.75 US cents | | Annual Dividend for FY2025 | 51.0 US cents | | Ex-dividend Date (ASX) | September 4, 2025 | | Ex-dividend Date (NYSE) | September 5, 2025 | | Record Date | September 5, 2025 | | Payment Date | September 25, 2025 | [Financial Performance Analysis](index=5&type=section&id=Financial%20Performance%20Analysis) Amcor's fiscal 2025 net sales grew 10% to $15,009 million and adjusted EBIT increased 12% in constant currency, primarily driven by the Berry Global acquisition [Consolidated Financial Results](index=5&type=section&id=Consolidated%20Financial%20Results) For fiscal 2025, Amcor's net sales grew 10% to $15,009 million and adjusted EBIT increased 12% in constant currency, largely driven by the Berry Global acquisition, despite some volume and price/mix offsets - For FY2025, constant currency net sales grew **11%**, driven by a **10% contribution from acquired sales** and **1% from higher volumes**, partially offset by a **1% unfavorable price/mix**[24](index=24&type=chunk) - For Q4 2025, constant currency net sales grew **43%**, almost entirely due to a **43% contribution from acquired sales**, with overall volumes declining by **1.7%**[19](index=19&type=chunk)[20](index=20&type=chunk) - FY2025 adjusted EBIT grew **12% in constant currency**, with a **13% contribution from acquisitions**, partly offset by unfavorable price/mix, though strong cost performance and higher volumes provided some benefit[25](index=25&type=chunk) [Segment Performance: Global Flexible Packaging Solutions](index=7&type=section&id=Segment%20Performance%3A%20Global%20Flexible%20Packaging%20Solutions) The Global Flexible Packaging Solutions segment saw fiscal 2025 net sales increase by 6% in constant currency to $10,872 million and adjusted EBIT up 5% to $1,458 million, driven by acquisitions and volume growth Global Flexible Packaging Solutions - Q4 FY2025 | Metric | Q4 2024 ($M) | Q4 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 2,686 | 3,205 | 18% | | Adjusted EBIT | 403 | 450 | 11% | | Adjusted EBIT Margin | 15.0% | 14.1% | N/A | Global Flexible Packaging Solutions - Full Year FY2025 | Metric | FY 2024 ($M) | FY 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 10,332 | 10,872 | 6% | | Adjusted EBIT | 1,395 | 1,458 | 5% | | Adjusted EBIT Margin | 13.5% | 13.4% | N/A | - In Q4, combined volumes for the segment were down approximately **1.5%**, with low single-digit declines in North America and lower volumes in Europe, while emerging markets saw low single-digit growth[30](index=30&type=chunk) [Segment Performance: Global Rigid Packaging Solutions](index=8&type=section&id=Segment%20Performance%3A%20Global%20Rigid%20Packaging%20Solutions) The Global Rigid Packaging Solutions segment experienced dramatic growth in fiscal 2025, with constant currency net sales up 26% to $4,137 million and adjusted EBIT surging 47% to $375 million, primarily due to the Berry acquisition Global Rigid Packaging Solutions - Q4 FY2025 | Metric | Q4 2024 ($M) | Q4 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 849 | 1,877 | 121% | | Adjusted EBIT | 75 | 204 | 173% | | Adjusted EBIT Margin | 8.8% | 10.9% | N/A | Global Rigid Packaging Solutions - Full Year FY2025 | Metric | FY 2024 ($M) | FY 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 3,308 | 4,137 | 26% | | Adjusted EBIT | 259 | 375 | 47% | | Adjusted EBIT Margin | 7.8% | 9.1% | N/A | - In Q4, combined volumes for the segment were down approximately **2%**, or **1% excluding North America beverage**; the decline was partly due to operating challenges and higher costs in the North America Beverage business[36](index=36&type=chunk)[37](index=37&type=chunk) [Other Financial Items](index=8&type=section&id=Other%20Financial%20Items) Fiscal 2025 adjusted net interest expense rose to $332 million due to acquisition-related debt, adjusted free cash flow was $926 million, and net debt reached $13,271 million, including $7.4 billion from the Berry Global acquisition - Adjusted net interest expense for FY2025 was **$332 million**, up from **$310 million** last year, due to increased debt from the acquisition[41](index=41&type=chunk) - Adjusted free cash flow for FY2025 was **$926 million**, compared to **$952 million** in the prior year[42](index=42&type=chunk) - Net debt increased to **$13,271 million** as of June 30, 2025, which includes about **$7.4 billion of debt from Berry Global**[42](index=42&type=chunk) [Fiscal 2026 Outlook](index=10&type=section&id=Fiscal%202026%20Outlook) Amcor forecasts strong fiscal 2026 adjusted EPS of 80 to 83 cents per share, representing 12% to 17% constant currency growth, and robust free cash flow of $1.8 to $1.9 billion [Fiscal 2026 Guidance](index=10&type=section&id=Fiscal%202026%20Guidance) Amcor's fiscal 2026 guidance projects adjusted EPS of 80 to 83 cents per share (12-17% constant currency growth) and free cash flow of $1.8 to $1.9 billion, including $260 million in Berry Global synergy benefits Fiscal 2026 Guidance | Metric | Guidance Range | Notes | | :--- | :--- | :--- | | Adjusted EPS | 80 - 83 cents per share | 12% to 17% constant currency growth | | Free Cash Flow | $1.8 - $1.9 billion | After ~$220M integration/transaction costs | | Capital Expenditure | $850 - $900 million | | | Net Interest Expense | $570 - $600 million | | | Effective Tax Rate | 19% - 21% | | - The guidance includes pre-tax synergy benefits of approximately **$260 million** related to the Berry Global acquisition[48](index=48&type=chunk) - The guidance reflects a full 12 months of ownership of Berry Global and does not account for the impact of potential portfolio optimization actions[43](index=43&type=chunk) [Appendix: Financial Statements & Reconciliations](index=12&type=section&id=Appendix%3A%20Financial%20Statements%20%26%20Reconciliations) This appendix provides unaudited U.S. GAAP financial statements and detailed reconciliations of non-GAAP measures, offering a comprehensive view of Amcor's financial performance and position [U.S. GAAP Financial Statements](index=12&type=section&id=U.S.%20GAAP%20Financial%20Statements) This section presents unaudited U.S. GAAP condensed consolidated financial statements for periods ending June 30, 2025, including Statements of Income, Cash Flows, and Balance Sheets - The Condensed Consolidated Statements of Income show a GAAP net loss of **$39 million** for Q4 2025 and net income of **$511 million** for FY 2025, impacted by significant restructuring, transaction, and integration expenses[56](index=56&type=chunk) - The Condensed Consolidated Balance Sheet as of June 30, 2025, shows total assets of **$37,066 million** and total liabilities of **$25,326 million**, reflecting the significant increase in assets and debt following the Berry Global acquisition[58](index=58&type=chunk) - The Condensed Consolidated Statements of Cash Flows for FY 2025 show net cash provided by operating activities of **$1,390 million** and a net increase in cash of **$239 million** for the year[57](index=57&type=chunk) [Reconciliation of Non-GAAP Measures](index=16&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section reconciles non-GAAP financial measures to U.S. GAAP, detailing adjustments for items like restructuring costs, acquisition-related expenses, and amortization of acquired intangibles - For Q4 2025, GAAP Net Income of **($39) million** is reconciled to Adjusted Net Income of **$408 million**; major adjustments include **$166 million** for Berry Transaction & Integration costs, **$133 million** for inventory step-up amortization, and **$130 million** for amortization of acquired intangibles[61](index=61&type=chunk) - For FY 2025, GAAP Net Income of **$511 million** is reconciled to Adjusted Net Income of **$1,136 million**; key adjustments include **$246 million** for amortization of acquired intangibles, **$202 million** for Berry Transaction & Integration costs, and **$133 million** for inventory step-up amortization[63](index=63&type=chunk) - A reconciliation of net debt is provided, showing an increase from **$6,111 million** at June 30, 2024, to **$13,271 million** at June 30, 2025[70](index=70&type=chunk) [Components of Net Sales Growth](index=14&type=section&id=Components%20of%20Net%20Sales%20Growth) This table breaks down fiscal 2025 net sales growth into foreign exchange, raw material pass-through, comparability items (acquisitions), and organic growth (volume and price/mix) FY2025 Total Company Net Sales Growth Components | Component | Q4 FY2025 | Full Year FY2025 | | :--- | :--- | :--- | | Reported Growth % | 44% | 10% | | FX % | 1% | (1)% | | Constant Currency Growth % | 43% | 11% | | Raw Material Pass Through % | 1% | 1% | | Items affecting comparability % | 43% | 10% | | Organic Growth % | (1)% | 0% | | - Volume % | (2)% | 1% | | - Price/Mix % | 1% | (1)% |