01—Abstract
Summary
Summary of the 10-Q filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.
Amcor plc (AMCR) reported strong financial performance for the nine months ended March 31, 2026, primarily driven by the completion of the Berry Global Group, Inc. acquisition on April 30, 2025.
Net sales saw a significant increase of 72% to $17.1 billiona, largely attributable to the consolidation of Berry's operations. While net income attributable to Amcor plc increased by 30% to $717 million, diluted earnings per share (EPS) decreased by 18% to $1.55. This EPS decline is attributed to a 60% increase in the diluted weighted-average number of shares outstanding due to the acquisition, alongside the increase in net income.
The company is actively managing integration costs and restructuring initiatives related to the Berry merger, with an estimated pre-tax net cash cost of $280 millionb. Amcor is also strategically reviewing its portfolio, identifying businesses with approximately $2.5 billion in sales for potential restructuring or divestiture, and has already completed the sale of ePac.
Despite ongoing economic and geopolitical challenges, including inflationary pressures and supply chain disruptions, Amcor remains focused on price and cost actions to mitigate impacts. The company also announced a change in its fiscal year-end to December 31, effective from July 1, 2026.
02—Key points
Key Highlights
- Net sales for the nine months ended March 31, 2026, increased 72% year-over-year to $17.1 billion, significantly boosted by the acquisition of Berry Global Group, Inc.
- Net income attributable to Amcor plc rose 30% to $717 million for the same period.
- Diluted EPS decreased 18% to $1.55 for the nine months ended March 31, 2026, primarily due to a 60% increase in weighted-average shares outstanding following the Berry acquisition.
- The company incurred $262 million in restructuring, transaction, and integration expenses, largely related to the Berry merger integration.
- Amcor is conducting a strategic review of its portfolio, identifying approximately $2.5 billion in sales for potential restructuring or divestiture.
- The company completed the sale of ePac for approximately $79 million and is progressing with the sale of other identified businesses.
- Amcor announced a change in its fiscal year-end from June 30 to December 31, effective July 1, 2026.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q3 FY2026, Amcor plc kept $0.05.
- Revenue$5.91B100.0%
- Cost of revenue−$4.72B79.9%
- Gross profit$1.19B20.1%
- Operating costs−$729.0M12.3%
- Operating income$461.0M7.8%
- Interest, other & tax−$183.0M3.1%
- Net income$278.0M4.7%
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed May 7, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $5.91B$3.33B | +77.4% |
| Cost of Revenue | $4.72B$2.68B | +76.3% |
| Gross Profit | $1.19B$654.00M | +82.0% |
| R&D Expenses | $44.00M$27.00M | +63.0% |
| SG&A Expenses | $488.00M$266.00M | +83.5% |
| Operating Income | $461.00M$313.00M | +47.3% |
| Net Income | $278.00M$196.00M | +41.8% |
| EPS (Basic) | $0.60$0.68 | −11.8% |
| EPS (Diluted) | $0.60$0.68 | −11.8% |
| Shares Outstanding (Basic) | 1.50M— | — |
| Shares Outstanding (Diluted) | 463.80M289.10M | +60.4% |
05—Questions
Frequently Asked Questions
What was the primary driver of the significant increase in Amcor's net sales?
The primary driver of the significant increase in Amcor's net sales for the nine months ended March 31, 2026, was the completion of the acquisition of Berry Global Group, Inc. on April 30, 2025. This consolidation significantly expanded the company's revenue base.
Why did Amcor's diluted Earnings Per Share (EPS) decrease despite an increase in net income?
Diluted EPS decreased despite an increase in net income primarily due to a substantial increase in the number of diluted weighted-average ordinary shares outstanding. This increase was a direct result of the shares issued to complete the acquisition of Berry Global Group, Inc.
What is Amcor's strategy regarding its business portfolio?
Amcor is undertaking a strategic review of its portfolio to maximize value. This includes identifying businesses with approximately $2.5 billion in sales for potential restructuring or divestiture. The company has already completed the sale of ePac and is in the process of selling other identified businesses.
What is the financial impact of the Berry Global Group, Inc. acquisition and integration on Amcor?
The Berry acquisition significantly boosted net sales and contributed to higher net income. However, it also led to increased restructuring, transaction, and integration expenses totaling $262 million for the nine months ended March 31, 2026. The company estimates total pre-tax net cash costs for the integration to be around $280 million. The acquisition also led to a substantial increase in the share count, impacting EPS.
What is the significance of Amcor changing its fiscal year-end?
Amcor is changing its fiscal year-end from June 30 to December 31, with the change effective July 1, 2026. This move aligns the company's reporting periods with the calendar year, which may simplify financial planning and reporting, and potentially align better with industry peers or market expectations. A transition report will be filed for the abbreviated fiscal period from July 1, 2026, to December 31, 2026.
06—Continue