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- **EPS Growth Beats Expectations**: Q1 EPS of $0.193 (+18% YoY) driven by $38 million synergies and cost control.
- **Strong Synergy Pipeline**: $70 million+ revenue synergies pipeline, reaffirming $260 million FY26 target.
- **Cash Flow Strength**: FY26 free cash flow guidance of $1.8-1.9 billion, up 100% YoY.
- **Dividend Increase**: $0.13 quarterly dividend reflects confidence in cash generation.
- **Operational Resilience**: EBIT up 4% despite 2% volume decline, driven by cost flexibility.


**【CEO Opening Remarks】**
- Amcor achieved EPS of $0.193 per share in Q1 FY26, up 18% YoY, driven by cost-out performance and synergy realization.
- Delivered $38 million in synergies (towards the upper end of guidance), with $70 million+ in revenue synergies pipeline.
- Aims to deliver $260 million in FY26 synergies and reaffirms FY26 EPS growth of 12-17%.
- Announces $0.13 quarterly dividend increase, reflecting confidence in cash flow generation.

**【CFO Financial Commentary】**
- Global Flexible Packaging: Net sales +25% (constant currency), EBIT margin 13.1%, up 20bps YoY.
- Global Rigid Packaging: Net sales +205% (constant currency), EBIT margin 11.9%, up 420bps YoY.
- Free cash flow outflow of $343 million (in line with expectations), with FY26 free cash flow guidance of $1.8-1.9 billion.
- Leverage at 3.6x, targeting 3.1-3.2x by year-end, supported by $100 million from asset sales.

**【Q&A Highlights】**
- **Volume Declines**: Volumes down 2% (excl. noncore NA Beverage), driven by macroeconomic softness, but EBIT up 4% due to cost management.
- **NA Beverage Business**: Operational issues resolved, profitability improving; exploring strategic alternatives.
- **Synergy Momentum**: $38 million Q1 synergies (G&A, procurement), with $260 million FY26 target reaffirmed.
- **Health Care Growth**: North America medical segment strong, Europe pharma lagging, but overall health care flat YoY.
- **Private Label Trends**: Consumer value-seeking driving private label growth, with Amcor underrepresented in key markets.


Amcor plc (AMCR) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

AMCR

AMCR fundamentals

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