AMCR $45.19 -1.43%

AMCR · Amcor plc

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$45.19 -0.66 (-1.43%) Play latest call Q3 2026 earnings call transcript

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$21.19B

462.35M

Volume · Nov 6 1.13M Avg daily vol (3M) 3.54M

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Earnings call · FY2026 Q2

Amcor plc (AMCR) Q2 2026 Earnings Call

Concluded Aug 12, 2026

Aug 12, 2026

Period: FY2026 Q2
Runtime: —
Sources: 2 artifacts

Revenue $5.45B +68.1% YoY

Diluted EPS $0.38 -32.1% YoY

Gross margin 19.1% -0.2 pp YoY

Net income $177.00M +8.6% YoY

Open full screen Slides 15 8-K

Executive readout · one minute

What matters this quarter

AMCR delivered strong FY26 results with adjusted EPS up 13% to $4.02 and Q4 adjusted EPS up 23% to $1.23, driven by Berry synergies that beat plan. For the six-month transition period, the company guided adjusted EPS of $1.80–$1.90, and signaled double-digit adjusted EPS growth and ~3x leverage by year-end 2027.

Synergy capture and integration 39 Portfolio optimization and divestitures 36 Free cash flow and Middle East conflict impact 29 Leverage and balance sheet 23 Volume growth recovery 22 Healthcare focus category 13

Management tone

Confident

Net tone +70 · moderate hedging

Grounding quotes

“we were pleased to deliver strong operating performance in the fourth quarter, despite a challenging macroeconomic backdrop”
“Two-four adjusted EPS of $1.23 per share increased 23% year-over-year, resulting in full-year fiscal 2026 adjusted EPS of $4.02 per share, up 13% compared to the prior year”
“we have line of sight to delivering double-digit adjusted EPS growth in calendar year 2027”
“Synergy Capture exceeded our expectations during the quarter as we realized 115 million dollars of synergy bringing total fiscal 2026 synergies to 285 million dollars this is approximately 10 ahead of our initial year one expectations”

Forward guidance

1 guided metrics

Management's latest ranges and targets are included below.

Research coverage

2 live sources

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Research materials

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Presentation 15 pages 8-K earnings release Filed Aug 12, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

FY26 adjusted EPS rose 13% to $4.02, meeting double-digit growth target.
Berry synergies reached $285M in FY26, ~$10M ahead of initial year-one target.
Volumes inflected to modestly positive in Q4 with ~200bps sequential improvement across categories.
Company guided to double-digit adjusted EPS growth in calendar 2027 with leverage to ~3x.
Quarterly dividend raised modestly to $0.65/share, continuing annual dividend growth.

↓ Risks & pressure points

FY26 free cash flow of $1.3B was $200M below the outlook range due to Middle East conflict working capital impacts.
Higher interest and tax represent a $0.10–$0.12 unfavorable drag to EPS in the transition period.
Healthcare volumes remain weak due to softness in lower-margin subcategories.

Key moments

Read the management remarks selected from the transcript.

“Against this backdrop, we have line of sight to delivering double-digit adjusted EPS growth in calendar year 2027. We are expecting leverage to be approximately three times by year-end while modestly growing the dividend.” Peter Konieczny, CEO

“I think the banding on our transition period outcome, as PK just mentioned, is probably just bands around volume. You know, are we flat? Are we modestly up? Because what we are showing is good earning power on modest movements in volume. And I think that'll be the primary movement, which is a pretty tight band around our EPS guide for the six-month transition period.” Steve Scherger, CFO

Forward guidance

From the 8-K filed Aug 12, 2026.

Metric	Period	Guided	Basis
Adjusted Diluted EPS Six Months Ended December 31, 2026 ('Transition Period')	Six Months Ended December 31, 2026 ('Transition Period')	$1.80 – $1.90	Non-GAAP

Quarter detail

How the reported period landed and where the business moved.

Revenue · segments

Flexibles Segment$3.19B +27% YoY

Rigid Packaging Segment$2.26B +210.1% YoY

Capital returned

Dividend / share: $0.65

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