Amcor Plc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did AMCR Beat Earnings? Q1 2026 Results
Amcor delivered a confident first quarter as the newly enlarged packaging giant, posting adjusted EPS of $0.19 against a consensus estimate of $0.18, a 5.23% beat, while revenue of $5.75 billion came in essentially in line with expectations despite a negligible 0.13% miss and reflected a 71.3% year-over-year surge driven by the April 2025 closing of its all-stock Berry Global acquisition. The transformational deal, executed at a fixed ratio of 7.25 Amcor shares per Berry share, contributed approximately $2.40 billion of acquired net sales and positioned the company as the global leader in consumer packaging. Integration momentum proved to be the quarter's defining story, with $38.00 million in synergies realized, at the upper end of guidance, lifting adjusted EBIT margins 110 basis points to 12.0%. The board also raised its quarterly dividend to $0.13 per share, signaling confidence in the combined company's cash generation. Management reaffirmed fiscal 2026 guidance for adjusted EPS of $0.80 to $0.83 and free cash flow of $1.80 to $1.90 billion, with synergies alone expected to drive more than 30% EPS growth through fiscal 2028.
- Berry Global acquisition contributing approximately $2.4 billion of acquired sales net of divestments
- Synergies of approximately $38 million realized in Q1, at upper end of expected range
- Disciplined cost performance and improved productivity
- Adjusted EBIT margins expanded 110 basis points to 12.0%
- Global Rigid Packaging Solutions margins improved 420 basis points to 11.9%
- Combined volumes approximately 2% lower than prior year excluding non-core North America beverage
“I am pleased with how the legacy Amcor and Berry teams have come together as one to integrate and execute against our priorities. We're seeing strong and consistent validation from our customers, who are very receptive to our expanded offerings and innovation capabilities.”
Amcor CEO, on the earnings call
Forward Guidance & Outlook
Amcor reaffirmed fiscal 2026 guidance: adjusted EPS of approximately 80 to 83 cents per share representing 12-17% constant currency growth compared with 71.2 cents in fiscal 2025, including at least $260 million of pre-tax synergy benefits from the Berry acquisition. Free cash flow is expected at approximately $1.8-1.9 billion after approximately $220 million of net cash integration and transaction costs. Capital expenditure is guided between $850-900 million, net interest expense approximately $570-600 million, and effective tax rate between 19-21%. Over the three-year period ending fiscal 2028, synergies alone are expected to drive more than 30% EPS growth, with total pre-tax synergy benefits of $650 million targeted by end of fiscal 2028.
AMCR YoY Financials
AMCR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.