Amcor Reports Solid Second Quarter Results and Reaffirms Fiscal 2026 Guidance

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]