Amcor FY26 Net Sales US$23.5b, Up 57% on Berry Deal

Amcor plc (ASX:AMC) lodged with the ASX the Form 8-K it filed with the US Securities and Exchange Commission on 12 August 2026, containing results for the three months and twelve months ended 30 June 2026. Amcor reports in US dollars. For the twelve months, net sales were US$23,506 million, up 57% on a reported basis, including approximately US$7.9 billion of acquired sales net of divestitures, which the company said represents growth of approximately 52%; the pass through of raw material cost movements contributed approximately US$240 million, or about 2%, foreign exchange contributed about 5%, and the remaining negative 2% reflected the net impact of volumes and price/mix. Net income was US$1,106 million compared with US$511 million, diluted earnings per share were US$2.38 compared with US$1.60, and adjusted diluted earnings per share were US$4.02 compared with US$3.56. Adjusted EBITDA was US$3,673 million, up 68%, and adjusted EBIT was US$2,813 million, up 63%; Amcor's reconciliation attributes 56 percentage points of the EBITDA growth and 49 percentage points of the EBIT growth to items affecting comparability, which it defines as the impact of acquired, disposed and ceased operations, with 8 and 10 percentage points respectively from all other sources. Free cash flow was US$1,303 million after funding approximately US$290 million of net transaction, restructuring and integration costs, and net debt was US$12,897 million at 30 June 2026. All periods have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on 14 January 2026.

For the June quarter, net sales were US$6,398 million, up 26% on a reported basis, including approximately US$962 million of acquired sales net of divestitures and a favourable raw material pass through of approximately US$280 million, with foreign exchange contributing about 2% and the remaining negative 1% reflecting the net impact of volumes and price/mix. Net income was US$389 million, against a loss of US$39 million in the prior-year quarter, adjusted EBITDA was US$1,045 million compared with US$789 million, and adjusted diluted earnings per share were US$1.23 compared with US$1.00. Amcor said the residual 19% year-over-year variation in quarterly adjusted EBIT mainly reflects synergy benefits from the Berry acquisition of approximately US$100 million and execution against cost and productivity initiatives; for the twelve months, the residual 10% variation mainly reflects synergy benefits of approximately US$240 million, partly offset by lower volumes. The Board declared a quarterly cash dividend of 65.0 US cents per share, compared with 63.75 US cents declared as 12.75 US cents per share before adjusting for the reverse stock split; holders of CDIs trading on the ASX will receive an unfranked dividend of 92.0 Australian cents per share, converted at an AUD:USD average exchange rate of 0.7043 over the five trading days ended 10 August 2026. Amcor will report a six-month transition period from 1 July 2026 to 31 December 2026 as it moves from a 30 June to a 31 December year-end, and expects adjusted earnings per share of approximately US$1.80 to US$1.90 and leverage, calculated as net debt divided by last twelve months adjusted EBITDA plus share-based compensation, of 3.5 to 3.6 times at 31 December 2026. Amcor said the outlook does not take into account the impact of potential portfolio optimisation actions not announced to date.