Exhibit 99.1 Amcor Reports Solid Results for Quarter ended September 30, 2026
Exhibit 99.1 Amcor Reports Solid Results for Quarter ended September 30, 2026 Net sales of $6,129 million up 7% over prior-year Diluted EPS of $0.52; Adjusted Diluted EPS of $0.95 GAAP Net Income of $242 million Adjusted EBITDA $883 million, flat to prior year 1 Updates Outlook for Transition Period ZURICH, November 4, 2026 — Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, today reported results for the quarter ended September 30, 2026. Amcor CEO Peter Konieczny said, “We delivered solid operating results this quarter, with broad-based organic volume growth of 1%, led by 3% volume growth in the focus categories. Synergy realization was in line with expectations, and we are on track to achieve our three-year $650 million target. Energy and distribution costs accelerated late in the quarter, which is creating a headwind in the transition period. Actions to address these inflationary pressures are underway, and we do not expect these higher costs to impact 2027 results. Building on our broad-based momentum, we are focused on driving long-term sustainable volume growth, and we remain confident in delivering on our medium and long-term financial commitments.”
All amounts referenced throughout this document are in US dollars and numbers may not add up to the totals provided due to rounding. (1) Excluding $21 million impact from divestments. (2) Adjusted non-GAAP results exclude items not considered representative of ongoing operations. Further details on non-GAAP measures and reconciliations to GAAP measures can be found under "Presentation of non-GAAP information”. (3) All prior periods presented in this release have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. Further details can be found under 'Reverse Stock Split'. 1
Net sales of $6,129 million were 6% higher than last year on a constant currency basis, including an unfavorable impact from divestitures of approximately $112 million, or (2%) on net sales. The pass through of movements in raw material costs had a favorable impact of approximately $435 million, or 8% on net sales and the remaining 1% year over year increase reflects the net impact of volumes and price/mix.
Volumes were approximately 1% higher compared to the September quarter last year. Excluding non-core and divested businesses, volumes were approximately 1.5% higher than prior year. Volume growth was broad-based across nearly all end markets, led by strong growth in pet food, foodservice and beauty and wellness, a nd was partially offset by lower unconverted film volumes in North America. Across regions, volumes increased in a ll geographies, led by emerging markets. Price/mix did not have a material impact on net sales.
Adjusted EBIT of $689 million was in line with last year on a constant currency basis, including an unfavorable impact from divestitures of approximately $17 million, or (3%). The remaining 3% year-over-year variation mainly reflects synergy benefits from the Berry acquisition of approximately $50 million and higher volumes partly offset by expected incentive rebuild and the timing of pass-through of higher energy and distribution costs.
Adjusted EBIT margin of 11.2% was impacted by 90-basis point dilution related to increased sales dollars associated with passing through higher raw material costs. Excluding this impact, Adjusted EBIT margin was 12.1%, which was up 10 basis points to prior year on a comparable basis.
Net interest expense was $153 million and adjusted income tax expense was $96 million inclusive of acquisition related financial benefits of approximately $10 million. GAAP income tax expense was $58 million. Adjusted tax expense represents an effective tax rate of 18% in line with the same period last year. Net interest expense was $13 million higher than the prior year adjusted net interest expense primarily as a result of higher interest rates.
Free cash outflow of $820 million, after funding approximately $31 million of Berry related net restructuring and integration costs, was lower than prior year due to working capital impacts driven by resin price volatility related to the Middle East conflict.
Based on its confidence in the company's growth trajectory and its disciplined capital allocation strategy, the Board declared a quarterly cash dividend of 66.0 cents per share. This reflects a one cent per share increase compared with 65.0 cents per share in the same quarter last year, declared as 13.0 cents per share before adjusting for the 1-for-5 reverse stock split effected on January 14, 2026. The dividend will be paid in US dollars to holders of Amcor’s ordinary shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an unfranked dividend of 94.0 Australian cents per share, which reflects the quarterly dividend of 66.0 cents per share converted at an AUD:USD average exchange rate of 0.7034 over the five trading days ended November 2, 2026.
The ex-dividend date will be November 24, 2026 for holders of CDIs trading on the ASX and November 25, 2026 for holders of shares trading on the NYSE. For all shareholders, the record date will be November 25, 2026 and the payment date will be December 16, 2026. 2
Amcor will have a six-month reporting period from July 1, 2026, through December 31, 2026 ('Transition Period'), as part of transitioning from a previously announced June 30 to December 31 year-end.
For the Transition Period, the Company is lowering its outlook for Adjusted EPS to $1.70 to $1.80 from $1.80 to $1.90 due to the timing of pass-through of higher energy and distribution costs. The Company now expects leverage on December 31, 2026 of approximately 3.6x
as compared to its previous expectation for leverage of 3.5 - 3.6x. Outlook does not take into account the impact of potential portfolio optimization actions not announced to date. Outlook contemplates a range of factors, including ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results and actual results could vary materially. Reconciliations of projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for the periods referenced have not been completed. Refer to page 11 for further information. (1) Leverage calculated as Net Debt divided by LTM Adjusted EBITDA plus share- based compensation.
Amcor is hosting a conference call with investors and analysts to discuss these results on Wednesday, November 4, 2026 at 5:30 p.m. US Eastern Standard Time / Thursday November 5, 2026 at 09:30am Australian Eastern Daylight Time. Investors are invited to listen to a live webcast of the conference call at our website, www.amcor.com, in the “Investors” section.
Those wishing to access the call should use the following toll-free numbers, with the Conference ID: 355 203 362
From all other countries, the call can be accessed by dialing +1 585 542 9983 (toll).
A replay of the webcast will also be available in the "Investors" section at www.amcor.com following the call. 3
Net sales of $3,359 million were 10% higher than last year on a reported and on a constant currency basis. The pass through of movements in raw material costs had a favorable impact of approximately $316 million, or 10% on net sales. Volumes for the Global Flexible Packaging Solutions segment were in line with the September quarter last year. Excluding volume from the sale of unconverted films in North America, volumes were up approximately 1% . Price/mix did not have a material impact on net sales. Adjusted EBIT of $414 million was 1% higher than last year on a reported and on a constant currency basis. The 1% year-over-year growth reflects synergy benefits from the Berry acquisition, partly offset by the unfavorable impact related to the timing of passing through of higher energy and distribution costs. Adjusted EBIT margin of 12.3% was impacted by 130-basis point dilution related to increased sales dollars associated with passing through higher raw material costs. Excluding this impact, adjusted EBIT margin was 13.6%, which was up 20 basis points to prior year on a comparable basis.
Net sales of $2,770 million were 2% higher than last year on a constant currency basis, including an unfavorable impact from divestitures of approximately $107 million, or (4%) on net sales. The pass through of movements in raw material costs had a favorable impact of approximately $119 million, or 4% on net sales and the remaining 2% year-over-year increase reflects the net impact of volumes and price/mix.
Excluding non-core business and divestitures, volumes for the Global Rigid Packaging Solutions segment were approximately 4% higher compared to the September quarter last year. Price/mix had no material impact on net sales.
Adjusted EBIT of $303 million was 3% lower than last year on a constant currency basis, including an unfavorable impact from divestitures of approximately $17 million, or (5%). The remaining 2% year over year increase mainly reflects synergy benefits from the Berry acquisition and higher volumes partly offset by the unfavorable impact related to the timing of passing through of higher energy and distribution costs. Adjusted EBIT margin of 10.9% was impacted by 50-basis point dilution related to increased sales dollars associated with passing through higher raw material costs. Excluding this impact, adjusted EBIT margin was 11.4%, which was down 20 basis points to prior year on a comparable basis. 4
Amcor is the global leader in developing and producing responsible consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enable us to solve packaging challenges around the world every day, producing a range of flexible packaging, rigid packaging, cartons and closures that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future. Supported by a commitment to safety, 75,000 people generate $23 billion in annual sales from operations that span approximately 400 locations in more than 40 countries. NYSE: AMCR; ASX: AMC www.amcor.com I LinkedIn I YouTube
Investors Kate Pearlman Damien Bird Dustin Stilwell Sr. Vice President Vice President Investor Vice President Investor Investor Relations & Relations Asia Pacific Relations North America Treasury +1 703 585 5353 +61 481 900 499 +1 812 306 2964 kate.pearlman@amcor.c… damien.bird@amcor.com dustin.stilwell@amcor.… Media - Australia Media - Europe Media - North America James Strong Ernesto Duran Julie Liedtke Managing Director Head of Global Director, Media Communications Relations Sodali & Co Amcor Amcor +61 448 881 174 +41 78 698 69 40 +1 847 204 2319 james.strong@sodali.c… ernesto.duran@amcor.com julie.liedtke@amcor.com
Amcor plc UK Establishment Address: 83 Tower Road North, Warmley, Bristol, England, BS30 8XP, United Kingdom UK Overseas Company Number: BR020803
Jersey Registered Company Number: 126984, Australian Registered Body Number (ARBN): 630 385 278 5
($ and shares in Three Months millions, Ended except EPS) September 30, 2026 2025 ────────────────────────────────────────────────────────────────────────────── Net sales $ 6,129 $ 5,745 Cost of sales -4,970 -4,621 Gross profit 1,159 1,124 Selling, general, and -468 -435 administrative expenses Amortization of acquired -140 -133 intangible assets Research and development -41 -46 expenses Restructuring, transaction and -62 -75 integration expenses, net Other income, 6 26 net Operating income 454 461 Interest -153 -153 expense, net Other non-operating -2 1 income/(expense… net Income before income taxes and equity in 299 309 income of affiliated companies Income tax -58 -49 expense Equity in income of affiliated 1 2 companies, net of tax Net income 242 262 Net income attributable to — — non-controlling interests Net income attributable to 242 262 Amcor plc USD:EUR average 0.8691 0.8559 FX rate Basic earnings per share $ 0.52 $ 0.57 attributable to Amcor Diluted earnings per share $ 0.52 $ 0.57 attributable to Amcor Weighted average number of shares 461.9 462.8 outstanding – Basic Weighted average number of shares 464.6 462.9 outstanding – Diluted
All prior periods have been retroactively adjusted to reflect the 1 for 5 reverse stock split effected on January 14, 2026. 6
Three Months Ended ($ in millions) September 30, 2026 2025 ────────────────────────────────────────────────────────────────────────────── Net income $ 242 $ 262 Depreciation, amortization and 365 364 impairment Net (gain)/loss on disposal of 6 — businesses and affiliated companies Changes in operating assets and liabilities, excluding effect of -1,175 -718 acquisitions, divestitures, and currency Other non-cash items 35 -41 Net cash used in -527 -133 operating activities Purchase of property, plant and -301 -238 equipment and other intangible assets Proceeds from sales of property, plant and equipment and 6 28 other intangible assets Business — -16 acquisitions Payments from -6 — divestitures Net debt proceeds 877 696 Dividends paid -300 -294 Purchase of treasury shares and tax withholdings for -36 -36 share-based incentive plans Other, including effect of exchange rate 4 -9 on cash and cash equivalents Net decrease in cash and cash -283 -2 equivalents Cash and cash equivalents balance at 1,115 827 beginning of the year Cash and cash equivalents balance $ 832 $ 825 at end of the period
Three Months Ended September 30, Global Flexible Global Rigid ($ in Packaging Packaging millions) Solutions Solutions Total ────────────────────────────────────────────────────────────────────────────── Net sales transition $ 3,359 $ 2,770 $ 6,129 period Net sales fiscal year 3,056 2,689 5,745 2026 Reported 10 3 7 Growth % FX % — 1 1 Constant Currency 10 2 6 Growth % RM Pass 10 4 8 Through % Items affecting — -4 -2 comparabili… % Organic — 2 1 Growth % Volume % — 2 1 Price/Mix % — — —
Reconciliation of adjusted Earnings before interest, tax, depreciation, and amortization (EBITDA), Earnings before interest and tax (EBIT), Net income, Earnings per share (EPS) and Free Cash Flow
All prior periods have been retroactively adjusted to reflect the 1 for 5 reverse stock split effected on January 14, 2026.
(1) Three months ended September 30, 2026 and 2025 primarily reflect restructuring and integration costs incurred in connection with the Berry Global acquisition.
(2) Three months ended September 30, 2026 includes fiscal year end change expenses, portfolio review disposal costs, and other net expenses / losses. Three months ended September 30, 2025 primarily reflect transaction costs related to the Berry Global acquisition.
(4) Reflects the impact of acquired, disposed, and ceased operations. 9 Reconciliation of adjusted EBIT by reportable segment
(1) Three months ended September 30, 2026 and 2025 primarily reflect restructuring and integration costs incurred in connection with the Berry Global acquisition.
(2) Three months ended September 30, 2026 includes fiscal year end change expenses, portfolio review disposal costs, and other net expenses / losses. Three months ended September 30, 2025 primarily reflect transaction costs related to the Berry Global acquisition.
Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors provides any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements in numerous industries; risk of loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; risk of integrating acquisitions and achieving the financial and other results and benefits anticipated at the time of acquisition; risk that the strategic review of our portfolio may cause disruptions to our business or may not result in completion of a transaction to restructure or divest non-core businesses or may not create additional value for our shareholders; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions, including impacts from the Middle East conflict; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect our business; production, supply, and other commercial risks, including those resulting from geopolitical conflicts and counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks; an inability to attract, develop, and retain our skilled workforce and manage key transitions; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; physical impacts of climate change; significant disruption at a key manufacturing facility; cybersecurity risks, which could disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which could disrupt our operations, compromise customer, employee, supplier, and other data; risk that the use of artificial intelligence could adversely affect our business and financial results; risk that the Company's significant indebtedness may limit its flexibility and increase its borrowing costs; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intellectual property infringement claims against us; litigation, including product liability claims or litigation related to Environmental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments with respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; changing ESG government regulations including climate-related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic mix of earnings; and changes in trade policy, including tariff and customs regulations or failure to comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2026, and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor’s filings with the SEC for free at the SEC’s website (www.sec.gov). Forward- looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward- looking statements in this communication are qualified in their entirety by this cautionary statement.
Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow, and net debt. In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include: material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, financing-related expenses; and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company's CEO and CFO transition; and impacts related to the Russia-Ukraine conflict and conflict in the Middle East.
Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs.
Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company’s reporting segments and certain of the measures are used as a component of Amcor’s Board of Directors’ measurement of Amcor’s performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP 11 financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort. These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections in connection with the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period.
Reconciliations of Transition Period projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for Transition Period have not been completed.
On January 14, 2026, the Company filed an amendment to its memorandum of association to effect a 1-for-5 reverse stock split (the “Reverse Split”) of the Company's ordinary shares. The Reverse Split became effective on January 14, 2026 and reduced the number of authorized ordinary shares to 1,800,000,000 and increased the par value of the ordinary shares to $0.05 per share. Accordingly, all share and per share amounts for all prior periods presented in the discussion within this release have been adjusted retroactively, where applicable, to reflect the Reverse Split.
Amcor has received a waiver from the ASX’s settlement operating rules, which will allow the Company to defer processing conversions between its ordinary share and CDI registers from November 24, 2026 to November 25, 2026 inclusive. 12
Full text with the tables
Exhibit 99.1 Amcor Reports Solid Results for Quarter ended September 30, 2026
Net sales of $6,129 million up 7% over prior-year Diluted EPS of $0.52; Adjusted
Diluted EPS of $0.95 GAAP Net Income of $242 million Adjusted EBITDA $883
million, flat to prior year 1 Updates Outlook for Transition Period ZURICH,
November 4, 2026 — Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing
and producing responsible packaging solutions, today reported results for the
quarter ended September 30, 2026. Amcor CEO Peter Konieczny said, “We delivered
solid operating results this quarter, with broad-based organic volume growth of
1%, led by 3% volume growth in the focus categories. Synergy realization was in
line with expectations, and we are on track to achieve our three-year $650
million target. Energy and distribution costs accelerated late in the quarter,
which is creating a headwind in the transition period. Actions to address these
inflationary pressures are underway, and we do not expect these higher costs to
impact 2027 results. Building on our broad-based momentum, we are focused on
driving long-term sustainable volume growth, and we remain confident in
delivering on our medium and long-term financial commitments.”
($ in
mill… Three
exce… Months
EPS) Ended
Key GAAP Septe… Report…
Fina… resul… 30, 2026 2025 ∆%
──────────────────────────────────────────────────────────────────────────────
Net $ 6,129 $ 5,745 7
sales
Net
inco…
attr… 242 262 -8
to
Amcor
plc
Dilu… $ 0.52 $ 0.57 -9
EPS
Report… Const…
∆% Curre…
∆%
Three
Months
Ended
Septe…
30,
Adju…
non-… 2026 2025
resu…
Net $ 6,129 $ 5,745 7 6
sales
EBIT… 883 909 -3 -3
EBIT 689 687 — —
Net 440 448 -2 -2
inco…
Dilu… 0.95 0.97 -2 -3
EPS
Free
Cash $ -820 $ -343
Flow
All amounts referenced throughout this document are in US dollars and numbers
may not add up to the totals provided due to rounding. (1) Excluding $21 million
impact from divestments. (2) Adjusted non-GAAP results exclude items not
considered representative of ongoing operations. Further details on non-GAAP
measures and reconciliations to GAAP measures can be found under "Presentation
of non-GAAP information”. (3) All prior periods presented in this release have
been retroactively adjusted to reflect the 1-for-5 reverse stock split effected
on January 14, 2026. Further details can be found under 'Reverse Stock Split'.
1
Financial Results
Three months ended September 30, 2026
Net sales of $6,129 million were 6% higher than last year on a constant currency
basis, including an unfavorable impact from divestitures of approximately $112
million, or (2%) on net sales. The pass through of movements in raw material
costs had a favorable impact of approximately $435 million, or 8% on net sales
and the remaining 1% year over year increase reflects the net impact of volumes
and price/mix.
Volumes were approximately 1% higher compared to the September quarter last
year. Excluding non-core and divested businesses, volumes were approximately
1.5% higher than prior year. Volume growth was broad-based across nearly all end
markets, led by strong growth in pet food, foodservice and beauty and wellness,
a nd was partially offset by lower unconverted film volumes in North America.
Across regions, volumes increased in a ll geographies, led by emerging markets.
Price/mix did not have a material impact on net sales.
Adjusted EBIT of $689 million was in line with last year on a constant currency
basis, including an unfavorable impact from divestitures of approximately $17
million, or (3%). The remaining 3% year-over-year variation mainly reflects
synergy benefits from the Berry acquisition of approximately $50 million and
higher volumes partly offset by expected incentive rebuild and the timing of
pass-through of higher energy and distribution costs.
Adjusted EBIT margin of 11.2% was impacted by 90-basis point dilution related to
increased sales dollars associated with passing through higher raw material
costs. Excluding this impact, Adjusted EBIT margin was 12.1%, which was up 10
basis points to prior year on a comparable basis.
Net interest expense was $153 million and adjusted income tax expense was $96
million inclusive of acquisition related financial benefits of approximately $10
million. GAAP income tax expense was $58 million. Adjusted tax expense
represents an effective tax rate of 18% in line with the same period last year.
Net interest expense was $13 million higher than the prior year adjusted net
interest expense primarily as a result of higher interest rates.
Free cash outflow of $820 million, after funding approximately $31 million of
Berry related net restructuring and integration costs, was lower than prior year
due to working capital impacts driven by resin price volatility related to the
Middle East conflict.
Net debt was $14,011 million at September 30, 2026.
Dividend
Based on its confidence in the company's growth trajectory and its disciplined
capital allocation strategy, the Board declared a quarterly cash dividend of
66.0 cents per share. This reflects a one cent per share increase compared with
65.0 cents per share in the same quarter last year, declared as 13.0 cents per
share before adjusting for the 1-for-5 reverse stock split effected on January
14, 2026. The dividend will be paid in US dollars to holders of Amcor’s ordinary
shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an
unfranked dividend of 94.0 Australian cents per share, which reflects the
quarterly dividend of 66.0 cents per share converted at an AUD:USD average
exchange rate of 0.7034 over the five trading days ended November 2, 2026.
The ex-dividend date will be November 24, 2026 for holders of CDIs trading on
the ASX and November 25, 2026 for holders of shares trading on the NYSE. For all
shareholders, the record date will be November 25, 2026 and the payment date
will be December 16, 2026.
2
Updated Transition Period Outlook
Amcor will have a six-month reporting period from July 1, 2026, through December
31, 2026 ('Transition Period'), as part of transitioning from a previously
announced June 30 to December 31 year-end.
For the Transition Period, the Company is lowering its outlook for Adjusted EPS
to $1.70 to $1.80 from $1.80 to $1.90 due to the timing of pass-through of
higher energy and distribution costs. The Company now expects leverage on
December 31, 2026 of approximately 3.6x
1
as compared to its previous expectation for leverage of 3.5 - 3.6x.
Outlook does not take into account the impact of potential portfolio
optimization actions not announced to date. Outlook contemplates a range of
factors, including ongoing geopolitical developments, which create a higher
degree of uncertainty and additional complexity when estimating future financial
results and actual results could vary materially. Reconciliations of projected
non-GAAP measures are not included herein because the individual components are
not known with certainty as individual financial statements for the periods
referenced have not been completed. Refer to page 11 for further information.
(1) Leverage calculated as Net Debt divided by LTM Adjusted EBITDA plus share-
based compensation.
Conference Call
Amcor is hosting a conference call with investors and analysts to discuss these
results on Wednesday, November 4, 2026 at 5:30 p.m. US Eastern Standard Time /
Thursday November 5, 2026 at 09:30am Australian Eastern Daylight Time. Investors
are invited to listen to a live webcast of the conference call at our website,
www.amcor.com, in the “Investors” section.
Those wishing to access the call should use the following toll-free numbers,
with the Conference ID: 355 203 362
• USA: 833 461 5787 (toll free)
• Australia: 1800 849 752 (toll free)
• United Kingdom: 0808 196 8935 (toll free)
• Singapore: 1800 408 1721 (toll free)
• Hong Kong: 800 938 481 (toll free)
From all other countries, the call can be accessed by dialing +1 585 542 9983
(toll).
A replay of the webcast will also be available in the "Investors" section at
www.amcor.com following the call.
3
Segment Information
Global Flexible Packaging Solutions segment - September 2026 quarter
Three
Mont… Repo… Const…
Ended ∆% curre…
Sept… ∆%
30,
($
in 2026 2025
mil…
Net 3,359 3,056 10 10
sal…
Adj… 414 409 1 1
EBIT
Adj…
EBIT
/ 12.3 13.4
Sal…
%
Net sales of $3,359 million were 10% higher than last year on a reported and on
a constant currency basis. The pass through of movements in raw material costs
had a favorable impact of approximately $316 million, or 10% on net sales.
Volumes for the Global Flexible Packaging Solutions segment were in line with
the September quarter last year. Excluding volume from the sale of unconverted
films in North America, volumes were up approximately 1% . Price/mix did not
have a material impact on net sales.
Adjusted EBIT of $414 million was 1% higher than last year on a reported and on
a constant currency basis. The 1% year-over-year growth reflects synergy
benefits from the Berry acquisition, partly offset by the unfavorable impact
related to the timing of passing through of higher energy and distribution
costs.
Adjusted EBIT margin of 12.3% was impacted by 130-basis point dilution related
to increased sales dollars associated with passing through higher raw material
costs. Excluding this impact, adjusted EBIT margin was 13.6%, which was up 20
basis points to prior year on a comparable basis.
Global Rigid Packaging Solutions segment - September 2026 quarter
Three
Mont… Repo… Const…
Ended ∆% curre…
Sept… ∆%
30,
($
in 2026 2025
mil…
Net 2,770 2,689 3 2
sal…
Adj… 303 312 -3 -3
EBIT
Adj…
EBIT
/ 10.9 11.6
Sal…
%
Net sales of $2,770 million were 2% higher than last year on a constant currency
basis, including an unfavorable impact from divestitures of approximately $107
million, or (4%) on net sales. The pass through of movements in raw material
costs had a favorable impact of approximately $119 million, or 4% on net sales
and the remaining 2% year-over-year increase reflects the net impact of volumes
and price/mix.
Excluding non-core business and divestitures, volumes for the Global Rigid
Packaging Solutions segment were approximately 4% higher compared to the
September quarter last year. Price/mix had no material impact on net sales.
Adjusted EBIT of $303 million was 3% lower than last year on a constant currency
basis, including an unfavorable impact from divestitures of approximately $17
million, or (5%). The remaining 2% year over year increase mainly reflects
synergy benefits from the Berry acquisition and higher volumes partly offset by
the unfavorable impact related to the timing of passing through of higher energy
and distribution costs.
Adjusted EBIT margin of 10.9% was impacted by 50-basis point dilution related to
increased sales dollars associated with passing through higher raw material
costs. Excluding this impact, adjusted EBIT margin was 11.4%, which was down 20
basis points to prior year on a comparable basis.
4
About Amcor
Amcor is the global leader in developing and producing responsible consumer
packaging and dispensing solutions across a variety of materials for nutrition,
health, beauty and wellness categories. Our global product innovation and
sustainability expertise enable us to solve packaging challenges around the
world every day, producing a range of flexible packaging, rigid packaging,
cartons and closures that are more sustainable, functional and appealing for our
customers and their consumers. We are guided by our purpose of elevating
customers, shaping lives and protecting the future. Supported by a commitment to
safety, 75,000 people generate $23 billion in annual sales from operations that
span approximately 400 locations in more than 40 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I YouTube
Contact Information
Investors
Kate Pearlman Damien Bird Dustin Stilwell
Sr. Vice President Vice President Investor Vice President Investor
Investor Relations & Relations Asia Pacific Relations North America
Treasury
+1 703 585 5353 +61 481 900 499 +1 812 306 2964
kate.pearlman@amcor.c… damien.bird@amcor.com dustin.stilwell@amcor.…
Media - Australia Media - Europe Media - North America
James Strong Ernesto Duran Julie Liedtke
Managing Director Head of Global Director, Media
Communications Relations
Sodali & Co Amcor Amcor
+61 448 881 174 +41 78 698 69 40 +1 847 204 2319
james.strong@sodali.c… ernesto.duran@amcor.com julie.liedtke@amcor.com
Amcor plc UK Establishment Address: 83 Tower Road North, Warmley, Bristol,
England, BS30 8XP, United Kingdom
UK Overseas Company Number: BR020803
Registered Office: 3rd Floor, 44 Esplanade, St Helier, JE4 9WG, Jersey
Jersey Registered Company Number: 126984, Australian Registered Body Number
(ARBN): 630 385 278
5
U.S. GAAP Condensed Consolidated Statements of Income (Unaudited)
($ and shares in Three Months
millions, Ended
except EPS) September 30, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net sales $ 6,129 $ 5,745
Cost of sales -4,970 -4,621
Gross profit 1,159 1,124
Selling,
general, and -468 -435
administrative
expenses
Amortization of
acquired -140 -133
intangible
assets
Research and
development -41 -46
expenses
Restructuring,
transaction and -62 -75
integration
expenses, net
Other income, 6 26
net
Operating income 454 461
Interest -153 -153
expense, net
Other
non-operating -2 1
income/(expense…
net
Income before
income taxes and
equity in 299 309
income of
affiliated
companies
Income tax -58 -49
expense
Equity in income
of affiliated 1 2
companies, net
of tax
Net income 242 262
Net income
attributable to — —
non-controlling
interests
Net income
attributable to 242 262
Amcor plc
USD:EUR average 0.8691 0.8559
FX rate
Basic earnings
per share $ 0.52 $ 0.57
attributable to
Amcor
Diluted earnings
per share $ 0.52 $ 0.57
attributable
to Amcor
Weighted average
number of shares 461.9 462.8
outstanding –
Basic
Weighted average
number of shares 464.6 462.9
outstanding –
Diluted
All prior periods have been retroactively adjusted to reflect the 1 for 5
reverse stock split effected on January 14, 2026.
6
U.S. GAAP Condensed Consolidated Statements of Cash Flows (Unaudited)
Three Months Ended
($ in millions) September 30, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net income $ 242 $ 262
Depreciation,
amortization and 365 364
impairment
Net (gain)/loss on
disposal of 6 —
businesses and
affiliated companies
Changes in operating
assets and
liabilities,
excluding effect of -1,175 -718
acquisitions,
divestitures, and
currency
Other non-cash items 35 -41
Net cash used in -527 -133
operating activities
Purchase of
property, plant and -301 -238
equipment and other
intangible assets
Proceeds from sales
of property, plant
and equipment and 6 28
other intangible
assets
Business — -16
acquisitions
Payments from -6 —
divestitures
Net debt proceeds 877 696
Dividends paid -300 -294
Purchase of treasury
shares and tax
withholdings for -36 -36
share-based
incentive
plans
Other, including
effect of exchange
rate 4 -9
on cash and cash
equivalents
Net decrease in cash
and cash -283 -2
equivalents
Cash and cash
equivalents balance
at 1,115 827
beginning of the
year
Cash and cash
equivalents balance $ 832 $ 825
at end
of the period
U.S. GAAP Condensed Consolidated Balance Sheets (Unaudited)
September 30,
($ in millions) 2026 June 30, 2026
──────────────────────────────────────────────────────────────────────────────
Cash and cash $ 832 $ 1,115
equivalents
Trade 3,752 3,639
receivables, net
Inventories, net 3,775 3,672
Property, plant,
and equipment, 7,440 7,409
net
Goodwill and
other intangible 18,508 18,663
assets,
net
Other assets 2,545 2,597
Total assets 36,852 37,095
Trade payables 3,225 4,021
Short-term debt
and current 253 150
portion of
long-term debt
Long-term debt,
less current 14,590 13,862
portion
Accruals and 7,041 7,261
other liabilities
Shareholders' 11,743 11,801
equity
Total liabilities
and shareholders' $ 36,852 $ 37,095
equity
7
Components of Transition Period Net Sales growth
Three Months
Ended
September 30,
Global
Flexible Global Rigid
($ in Packaging Packaging
millions) Solutions Solutions Total
──────────────────────────────────────────────────────────────────────────────
Net sales
transition $ 3,359 $ 2,770 $ 6,129
period
Net sales
fiscal year 3,056 2,689 5,745
2026
Reported 10 3 7
Growth %
FX % — 1 1
Constant
Currency 10 2 6
Growth %
RM Pass 10 4 8
Through %
Items
affecting — -4 -2
comparabili…
%
Organic — 2 1
Growth %
Volume % — 2 1
Price/Mix % — — —
8
Reconciliation of Non-GAAP Measures
Reconciliation of adjusted Earnings before interest, tax, depreciation, and
amortization (EBITDA), Earnings before interest and tax (EBIT), Net income,
Earnings per share (EPS) and Free Cash Flow
… …
… …
… …
… …
… …
… …
──────────────────────────────────────────────────────────────────────────────
… … … … E… E… N… E…
… … I… (…
$ … $ … $ … … $ … $ … $ … 0…
— — — —
… … … …
… … … …
… …
… … … 0… … … … …
1 1 1 — … … … …
… … … 0… … … … …
… … … 0… … … … …
… … 0… … … …
— — … …
… -… … …
$ … $ … $ … … $ … $ … $ … 0…
… — … -2
— — — -1
… — … -3
… …
… 3
$ … $ …
… …
… …
… …
6 2
… …
… …
… …
… …
$ … $ …
All prior periods have been retroactively adjusted to reflect the 1 for 5
reverse stock split effected on January 14, 2026.
(1) Three months ended September 30, 2026 and 2025 primarily reflect
restructuring and integration costs incurred in connection with the Berry Global
acquisition.
(2) Three months ended September 30, 2026 includes fiscal year end change
expenses, portfolio review disposal costs, and other net expenses / losses.
Three months ended September 30, 2025 primarily reflect transaction costs
related to the Berry Global acquisition.
(3) Amortization of acquired intangible assets from business combinations.
(4) Reflects the impact of acquired, disposed, and ceased operations.
9
Reconciliation of adjusted EBIT by reportable segment
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
… …
… … … …
… …
… …
$ …
—
…
…
… … … … …
— 1 — — …
… … … … …
— … … … …
… … … 2 …
$ … … $ $ … $ … …
… … % … % …
1 …
— —
1 …
— …
1 — 2
(1) Three months ended September 30, 2026 and 2025 primarily reflect
restructuring and integration costs incurred in connection with the Berry Global
acquisition.
(2) Three months ended September 30, 2026 includes fiscal year end change
expenses, portfolio review disposal costs, and other net expenses / losses.
Three months ended September 30, 2025 primarily reflect transaction costs
related to the Berry Global acquisition.
(3) Amortization of acquired intangible assets from business combinations.
(4) Reflects the impact of acquired, disposed, and ceased operations.
Reconciliation of net debt
September 30,
($ in millions) 2026 June 30, 2026
──────────────────────────────────────────────────────────────────────────────
Cash and cash $ -832 $ -1,115
equivalents
Short-term debt 174 135
Current portion 79 15
of long-term debt
Long-term debt,
less current 14,590 13,862
portion
Net debt $ 14,011 $ 12,897
10
Cautionary Statement Regarding Forward-Looking Statements
Unless otherwise indicated, references to "Amcor," the "Company," "we," "our,"
and "us" in this document refer to Amcor plc and its consolidated subsidiaries.
This document contains certain statements that are "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are generally
identified with words like "believe," "expect," "target," "project," "may,"
"could," "would," "approximately," "possible," "will," "should," "intend,"
"plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook,"
or "continue," the negative of these words, other terms of similar meaning, or
the use of future dates. Such statements are based on the current expectations
of the management of Amcor and are qualified by the inherent risks and
uncertainties surrounding future expectations generally. Actual results could
differ materially from those currently anticipated due to a number of risks and
uncertainties. Neither Amcor nor any of its respective directors, executive
officers, or advisors provides any representation, assurance, or guarantee that
the occurrence of the events expressed or implied in any forward-looking
statements will actually occur or if any of them do occur, what impact they will
have on the business, results of operations or financial condition of Amcor.
Should any risks and uncertainties develop into actual events, these
developments could have a material adverse effect on Amcor's business. Risks and
uncertainties that could cause actual results to differ from expectations
include, but are not limited to: changes in consumer demand patterns and
customer requirements in numerous industries; risk of loss of key customers, a
reduction in their production requirements, or consolidation among key
customers; significant competition in the industries and regions in which we
operate; risk of integrating acquisitions and achieving the financial and other
results and benefits anticipated at the time of acquisition; risk that the
strategic review of our portfolio may cause disruptions to our business or may
not result in completion of a transaction to restructure or divest non-core
businesses or may not create additional value for our shareholders; an inability
to expand our current business effectively through either organic growth,
including product innovation, investments, or acquisitions; challenging global
economic conditions, including impacts from the Middle East conflict; impacts of
operating internationally; price fluctuations or shortages in the availability
of raw materials, energy and other inputs, which could adversely affect our
business; production, supply, and other commercial risks, including those
resulting from geopolitical conflicts and counterparty credit risks, which may
be exacerbated in times of economic volatility; pandemics, epidemics, or other
disease outbreaks; an inability to attract, develop, and retain our skilled
workforce and manage key transitions; labor disputes and an inability to renew
collective bargaining agreements at acceptable terms; physical impacts of
climate change; significant disruption at a key manufacturing facility;
cybersecurity risks, which could disrupt our operations or risk of loss of our
sensitive business information; failures or disruptions in our information
technology systems which could disrupt our operations, compromise customer,
employee, supplier, and other data; risk that the use of artificial intelligence
could adversely affect our business and financial results; risk that the
Company's significant indebtedness may limit its flexibility and increase its
borrowing costs; rising interest rates that increase our borrowing costs on our
variable rate indebtedness and could have other negative impacts; foreign
exchange rate risk; a significant write-down of goodwill and/or other intangible
assets; a failure to maintain an effective system of internal control over
financial reporting; an inability of our insurance policies, including our use
of a captive insurance company, to provide adequate protection against all of
the key operational risks we face; an inability to defend our intellectual
property rights or intellectual property infringement claims against us;
litigation, including product liability claims or litigation related to
Environmental, Social, and Governance ("ESG") matters, or regulatory
developments; increasing scrutiny and changing expectations from investors,
customers, suppliers, and governments with respect to our ESG practices and
commitments resulting in additional costs or exposure to additional risks;
changing ESG government regulations including climate-related rules; changing
environmental, health, and safety laws; changes in tax laws or changes in our
geographic mix of earnings; and changes in trade policy, including tariff and
customs regulations or failure to comply with such regulations. These risks and
uncertainties are supplemented by those identified from time to time in our
filings with the Securities and Exchange Commission (the "SEC"), including
without limitation, those described under Part I, "Item 1A - Risk Factors" in
our Annual Report on Form 10-K for the fiscal year ended June 30, 2026, and as
updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor’s
filings with the SEC for free at the SEC’s website (www.sec.gov). Forward-
looking statements included herein are made only as of the date hereof and Amcor
does not undertake any obligation to update any forward-looking statements, or
any other information in this communication, as a result of new information,
future developments or otherwise, or to correct any inaccuracies or omissions in
them which become apparent, except as expressly required by law. All forward-
looking statements in this communication are qualified in their entirety by this
cautionary statement.
Presentation of non-GAAP information
Included in this release are measures of financial performance that are not
calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA
and EBITDA (calculated as earnings before interest and tax and depreciation and
amortization), adjusted EBIT and EBIT (calculated as earnings before interest
and tax), adjusted net income, adjusted earnings per share, adjusted free cash
flow, and net debt. In arriving at these non-GAAP measures, we exclude items
that either have a non-recurring impact on the income statement or which, in the
judgment of our management, are items that, either as a result of their nature
or size, could, were they not singled out, potentially cause investors to
extrapolate future performance from an improper base. Note that while
amortization of acquired intangible assets is excluded from non-GAAP adjusted
financial measures, the revenue of the acquired entities and all other expenses
unless otherwise stated, are reflected in our non-GAAP financial performance
earnings measures. While not all inclusive, examples of these items include:
material restructuring programs, including associated costs such as employee
severance, pension and related benefits, impairment of property and equipment
and other assets, accelerated depreciation, termination payments for contracts
and leases, contractual obligations, and any other qualifying costs related to
restructuring plans; material sales and earnings from disposed or ceased
operations and any associated profit or loss on sale of businesses or
subsidiaries; changes in the fair value of economic hedging instruments on
commercial paper and contingent purchase consideration; pension settlements;
impairments in goodwill and equity method investments; material acquisition
compensation and transaction costs such as due diligence expenses, professional
and legal fees, financing-related expenses; and integration costs; material
purchase accounting adjustments for inventory; amortization of acquired
intangible assets from business combination; gains or losses on significant
property and divestitures and significant property and other impairments, net of
insurance recovery; certain regulatory and legal matters; impacts from highly
inflationary accounting; expenses related to the Company's CEO and CFO
transition; and impacts related to the Russia-Ukraine conflict and conflict in
the Middle East.
Amcor also evaluates performance on a comparable constant currency basis, which
measures financial results assuming constant foreign currency exchange rates
used for translation based on the average rates in effect for the comparable
prior year period. In order to compute comparable constant currency results, we
multiply or divide, as appropriate, current-year U.S. dollar results by the
current year average foreign exchange rates and then multiply or divide, as
appropriate, those amounts by the prior-year average foreign exchange rates. We
then adjust for other items affecting comparability. While not all inclusive,
examples of items affecting comparability include the difference between sales
or earnings in the current period and the prior period related to disposed, or
ceased operations. Comparable constant currency net sales performance also
excludes the impact from passing through movements in raw material costs.
Management has used and uses these measures internally for planning, forecasting
and evaluating the performance of the Company’s reporting segments and certain
of the measures are used as a component of Amcor’s Board of Directors’
measurement of Amcor’s performance for incentive compensation purposes. Amcor
believes that these non-GAAP measures are useful to enable investors to perform
comparisons of current and historical performance of the Company. For each of
these non-GAAP financial measures, a reconciliation to the most directly
comparable U.S. GAAP
11
financial measure has been provided herein. These non-GAAP financial measures
should not be construed as an alternative to results determined in accordance
with U.S. GAAP. The Company provides guidance on a non-GAAP basis as we are
unable to predict with reasonable certainty the ultimate outcome and timing of
certain significant forward-looking items without unreasonable effort. These
items include but are not limited to the impact of foreign exchange translation,
restructuring program costs, asset impairments, possible gains and losses on the
sale of assets, certain tax related events, and difficulty in making accurate
forecasts and projections in connection with the legacy Berry Global business
given recency of access to all relevant information. These items are uncertain,
depend on various factors, and could have a material impact on U.S. GAAP
earnings and cash flow measures for the guidance period.
Reconciliations of Transition Period projected non-GAAP measures are not
included herein because the individual components are not known with certainty
as individual financial statements for Transition Period have not been
completed.
Reverse Stock Split
On January 14, 2026, the Company filed an amendment to its memorandum of
association to effect a 1-for-5 reverse stock split (the “Reverse Split”) of the
Company's ordinary shares. The Reverse Split became effective on January 14,
2026 and reduced the number of authorized ordinary shares to 1,800,000,000 and
increased the par value of the ordinary shares to $0.05 per share. Accordingly,
all share and per share amounts for all prior periods presented in the
discussion within this release have been adjusted retroactively, where
applicable, to reflect the Reverse Split.
Dividends
Amcor has received a waiver from the ASX’s settlement operating rules, which
will allow the Company to defer processing conversions between its ordinary
share and CDI registers from November 24, 2026 to November 25, 2026 inclusive.
12