Amcor plc posted a robust first‑quarter 2026 performance, reporting adjusted earnings per share of 19.3 cents, net sales of $5.745 billion, and adjusted EBIT of $687 million, which translates to a 12.0 % margin—110 basis points higher than the same quarter a year earlier. The results include the full impact of the Berry Global combination, with $295 million of acquired EBIT and $33 million of synergy benefits captured in the quarter, underscoring the integration momentum that has been a central theme of the company’s strategy.
Revenue growth was driven by a 25 % constant‑currency increase in the Global Flexible Packaging Solutions segment, which reached $3.26 billion, and a 205 % jump in the Global Rigid Packaging Solutions segment to $2.49 billion. While the flexible segment saw a modest 2 % volume decline in North America, the rigid segment’s surge was largely fueled by higher‑margin specialty packaging for food and beverage customers. These segment dynamics explain the overall 68 % revenue rise on a constant‑currency basis, even as some legacy volume softness persisted in European flexibles.
Compared with the prior year’s Q1, Amcor’s adjusted EPS grew from 16.4 cents to 19.3 cents—a 18 % increase—while the adjusted EBIT margin expanded from 10.9 % to 12.0 %. The margin lift reflects disciplined cost control and the early realization of Berry Global synergies, which have offset the higher raw‑material costs that have pressured other packaging peers. The company’s guidance for fiscal 2026 remains unchanged, with management reaffirming a full‑year adjusted EPS range of $0.80 to $0.83 and a commitment to deliver at least $260 million of pre‑tax synergy benefits, roughly 12 % of earnings.
Amcor also raised its quarterly dividend to 13.0 cents per share, up from 12.75 cents, with an ex‑dividend date of November 28. CEO Peter Konieczny said the dividend hike “signals the company’s strong cash‑flow position and its commitment to returning value to shareholders while continuing to invest in growth and sustainability initiatives.” He added that the company’s “clear line of sight to delivering at least $260 million of synergy benefits in fiscal 26” demonstrates confidence in the integration plan and the long‑term value creation from the Berry Global acquisition.
Analysts noted that Amcor’s adjusted EPS of 19.3 cents beat consensus estimates of $0.18–$0.19, a margin of 0.03–0.04 cents per share, while revenue of $5.745 billion slightly exceeded the $5.74 billion expectation. The market reaction was positive, with the stock gaining 3.7 % in after‑hours trading, driven by the earnings beat, strong revenue growth, and the reaffirmation of guidance. Management’s emphasis on disciplined cost control and the early realization of synergies reinforced investor confidence in the company’s trajectory.
Headwinds remain in certain legacy markets, including a 2 % volume decline in European flexibles and softness in North American beverage packaging, but Amcor’s focus on high‑margin specialty segments and its continued investment in innovation are positioned to offset these challenges. The company’s strategic divestiture of two non‑core businesses for roughly $100 million further sharpens its focus on core packaging solutions, supporting the outlook for sustained profitability and free‑cash‑flow growth through fiscal 2028.
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