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Revenue: $5.4 billion for the second quarter.
EBITDA: $826 million for the second quarter.
Adjusted EPS: $0.86 per share for the second quarter, reflecting a 7% increase.
Free Cash Flow: $289 million for the second quarter.
Dividend: $0.65 per share, increased over the prior year.
Synergies: $55 million in Q2, totaling $93 million for the first half, with a target of $260 million for fiscal 2026.
Core Portfolio Volume Performance: Approximately 1.5% lower than the prior year.
Adjusted EBIT Margin: 12.6% for the flexible packaging solutions segment.
Capital Spending: $459 million for the first half, with a full-year expectation of $850 million to $900 million.
Adjusted Leverage: 3.6 times at the end of the quarter.
Full-Year EPS Guidance: $4 to $4.15 per share, reflecting a 12% to 17% growth.
Full-Year Free Cash Flow Guidance: $1.8 to $1.9 billion.
Release Date: February 03, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Amcor PLC (AMCCD) reported a 7% increase in adjusted EPS for the second quarter and 14% for the first half, demonstrating strong financial performance.
The company achieved $55 million in synergies for Q2, totaling $93 million for the first half, reinforcing confidence in delivering at least $260 million in synergies for fiscal 2026.
Amcor PLC (AMCCD) reaffirmed its financial guidance for fiscal 2026, expecting double-digit EPS growth and doubling free cash flow compared to fiscal 2025.
The acquisition of Berry has positioned Amcor PLC (AMCCD) as a global leader in consumer packaging, with significant synergy benefits and a strengthened platform for long-term growth.
The company’s core portfolio, which includes health, beauty, and wellness, among others, outperformed the total company, reflecting a stronger financial profile and competitive advantage.
Amcor PLC (AMCCD) experienced a modest increase in the total recordable incident rate to 0.52, indicating a slight decline in safety performance compared to the previous year.
Volumes for the core business were approximately 1.5% lower than the prior year, reflecting challenges in market dynamics.
The non-core business portfolio showed weaker performance, with EBIT margins in the 3% range during Q2, impacting overall profitability.
The company faced challenges in the North American beverage business, contributing to a difficult quarter for non-core businesses.
Despite synergy benefits, the overall volume environment remains challenging, with the company operating in a market that is down single digits.
Q: Can you provide insights into your volume expectations for the next two quarters of fiscal year 2026? Have you seen any improvements in production backlogs or other forward indicators? A: Peter Konieczny, CEO: We are approaching the second half of the year with expectations similar to the first half, with the market being single-digits down. We are focusing on cost management and flexing the organization according to volume demand. While there is potential for improvement, we are planning for conditions consistent with the first half. Steve Scherger, CFO, added that the lower half of guidance assumes a similar market environment to what we’ve experienced, while the upper half would reflect more positive customer activity and revenue synergies.
Q: Could you elaborate on the initiatives that give you confidence in your fourth-quarter guidance, outside of volumes and market performance? A: Stephen Scherger, CFO: The first half to second half EBIT improvement will be driven by seasonality, synergy growth, and improvements in our non-core businesses. We expect about $100 million of EBIT improvement due to seasonality, another $100 million from synergy growth, and improvement in non-core businesses, particularly the North American beverage business. Synergy capture will continue to accelerate from Q3 to Q4, and we expect better year-over-year performance in Q4.
Q: How does your volume performance compare to the broader industry in your major categories? Are you gaining or losing market share? A: Peter Konieczny, CEO: Overall, our company was down 2.5% in volumes for Q2, similar to Q1. Our core portfolio was down 1.5%, which is better than the overall business. In the rigid packaging segment, volumes were flat, with North America holding up and growth in Latin America. Our focus categories, which make up more than 50% of the core business, outperformed the core business overall, with pet care and meat proteins showing strong growth.
Q: Can you provide some details on the expected improvement in non-core EBIT contribution in the second half versus the first half? A: Peter Konieczny, CEO: The non-core business had a tough Q2, mainly due to volumes, particularly in the North American beverage business. We have renegotiated customer contracts, improving commercial terms, which will benefit the business going forward. Stephen Scherger, CFO, added that EBIT margins for non-core businesses were around 5% in the first half, but we expect them to return to more normalized levels of 7-9% in the second half, resulting in about a $50 million improvement.
Q: Can you discuss the split between G&A and procurement synergies in the second quarter and expectations for the second half? A: Stephen Scherger, CFO: In Q2, synergy capture was split evenly between procurement and G&A. We expect procurement and G&A synergies to continue on track in the second half, with revenue synergies becoming more significant in fiscal 2027. Operational synergies will start to ramp up post this fiscal year. Peter Konieczny, CEO, added that procurement synergies are progressing well, and we are confident in delivering the expected synergies.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.