Amcor reports strong Q1 profit growth, reaffirms fiscal 2026 outlook

SWITZERLAND — Global packaging leader Amcor has posted a robust first-quarter performance, reporting higher profits and reaffirming its full-year fiscal 2026 earnings guidance.

The results reflect the company’s accelerating growth following its acquisition of Berry Global earlier this year.

For the quarter ended 30 September 2025, Amcor’s net income rose to US$262 million, up from US$191 million a year earlier.

Net sales surged 68% year-on-year to US$5.74 billion on a constant currency basis, driven by strong results across both its flexible and rigid packaging divisions.

Amcor’s Global Flexible Packaging Solutions division recorded US$3.26 billion in net sales, up 25%, while adjusted EBIT climbed 28% to US$426 million.

The Global Rigid Packaging Solutions division saw exceptional growth, with net sales jumping 205% to US$2.49 billion and adjusted EBIT up 365% to US$295 million.

Overall, adjusted EBIT rose 85% to US$687 million, and adjusted EBITDA increased 92% to US$909 million, with EBIT margins improving by 110 basis points to 12%.

Adjusted earnings reached US$448 million, and earnings per share grew 18% to 19.3 cents, exceeding the mid-point of Amcor’s projection range.

Synergy realization from the Berry Global acquisition continues to progress ahead of plan. Amcor recorded US$38 million in synergy benefits in Q1, including US$33 million in adjusted EBIT gains.

The company expects US$260 million in annualized pre-tax synergies by fiscal 2026, equivalent to about 12% EPS accretion, and projects US$650 million in total synergies by fiscal 2028.

Free cash outflow stood at US$343 million, in line with expectations following US$115 million in acquisition-related costs.

Net debt was US$13.99 billion as of 30 September 2025. Reflecting confidence in its cash generation, Amcor’s board declared a quarterly dividend of 13.0 cents per share, payable on 17 December 2025 to shareholders of record on 28 November.

Reaffirming its fiscal 2026 guidance, Amcor projects adjusted EPS of 80–83 cents, representing 12–17% growth, and free cash flow between US$1.8 billion and US$1.9 billion.

CEO Peter Konieczny said the integration of Berry Global is “progressing well,” adding, “We have clear line of sight to delivering at least $260 million of synergy benefits in fiscal 2026 and are confident in achieving strong earnings and free cash flow growth.”

Amcor expects synergy gains and organic expansion to drive more than 30% EPS growth by fiscal 2028, positioning the company as a stronger global packaging partner focused on innovation, sustainability, and shareholder value creation.

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