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Amcor Plc. (AMCR) shares have lost 16.1% in a year against the industry’s growth of 2.2%. This mainly reflects lower volumes due to weak consumer demand. Higher input costs and supply-chain headwinds added to the company’s woes. Image Source: Zacks Investment Research Low Volume, High Costs AilAmcor’s volumes have been bearing the brunt of weak consumer demand due to the current inflationary environment. Customers have also been lowering their inventory, which further impacted demand. In fiscal 2023, Amcor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-38932 AMCOR PLC (Exact name of Registrant as specified in its charter) Jersey 98-1455367 (State or other jurisdic ...

Amcor plc (NYSE:AMCR) Q1 2024 Earnings Conference Call October 31, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head of Investor Relations Ron Delia - Chief Executive Officer Michael Casamento - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Daniel Kang - CLSA Adam Samuelson - Goldman Sachs George Staphos - Bank of America Sam Seow - Citi Mike Roxland - Truist Securities Richard Johnson - Jefferies Cameron McDonald - E&P Nathan Reilly - UBS John Purtell - Macquarie ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-38932 AMCOR PLC (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

Financial Data and Key Metrics Changes - Amcor reported a 1% increase in adjusted EBIT for fiscal 2023, with full-year adjusted EBIT of $1.6 billion [10][11] - Reported net sales for the year were up 1%, impacted by a 3% unfavorable currency effect and approximately $775 million in pricing to recover higher raw material costs [10][11] - Adjusted EPS for the year was $0.733 per share, down 2% on a comparable constant currency basis [11][13] Business Line Data and Key Metrics Changes - In the Flexibles segment, reported sales were in line with last year, with a 5% sales growth attributed to raw material cost recovery, but volumes were down 3% [16][17] - Rigid Packaging saw a 4% increase in reported net sales, but organic sales declined by 3% due to a 4% drop in volumes [19][20] - Adjusted EBIT for Flexibles was up 1% on a comparable constant currency basis, while Rigid Packaging's adjusted EBIT was down 7% [17][21] Market Data and Key Metrics Changes - The North American and European markets experienced high single-digit volume declines in the June quarter, consistent with soft retail scanner data [18][21] - Emerging markets showed better volume performance, with Asia's volumes flat and Latin America down mid-single digits [81] Company Strategy and Development Direction - Amcor is focused on long-term growth through innovation and sustainability initiatives, particularly in high-value markets [9][30] - The company is pursuing value-creating M&A opportunities, including the recent acquisition of Phoenix flexible packaging in India [9][30] - Amcor aims to return to mid-single-digit earnings growth in the second half of fiscal 2024, supported by cost reduction initiatives and cycling easier volume comparatives [8][28] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing inflation, softening consumer demand, and customer destocking as significant challenges [6][12] - The expectation for fiscal 2024 includes adjusted EPS of approximately $0.67 to $0.71 per share, with organic growth anticipated to be low-single-digit [24][25] - Management expressed confidence in returning to solid earnings growth without relying on significant changes in demand [28] Other Important Information - Amcor returned approximately $1.2 billion to shareholders through dividends and share repurchases during the year [13][14] - The company has reduced its inventory balances by over $400 million from peak levels in November 2022 [23] Q&A Session Summary Question: What are the assumptions for fiscal year '24 in context of the 3% decline reported in fiscal year '23? - Management expects first half volumes to be down mid to high single digits, with the second half potentially flat to low single digits, assuming no further destocking [40] Question: Can you provide insight into the destocking across major regions? - Destocking has been broad, with early signs in meat and premium coffee categories, and management anticipates it will largely be behind by the end of the calendar year [42][43] Question: What is the outlook for interest expense in fiscal '24? - Interest expense is expected to be in the range of $320 million to $340 million due to rising global rates [45][46] Question: How is the company addressing SKU rationalization from major customers? - SKU rationalization is seen as beneficial, simplifying the business and aligning with sustainable formats [77][78] Question: What is the company's strategy regarding the protein packaging market? - Amcor is well-positioned with a comprehensive product portfolio and recent acquisitions to drive growth in the protein category [30][32][66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-38932 AMCOR PLC (Exact name of Registrant as specified in its charter) Jersey 98-1455367 (State or other jurisdiction ...

Amcor plc (NYSE:AMCR) Q3 2023 Results Conference Call May 2, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head of Investor Relations Ron Delia - Chief Executive Officer Michael Casamento - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Anthony Pettinari - Citi Keith Chau - MST Daniel Kang - CLSA Adam Samuelson - Goldman Sachs John Purtell - Macquarie Richard Johnson - Jefferies Kyle White - Deutsche Bank Jacob Cakarnis - Jordan Brook Campbell-Crawford - Bar & Joy Na ...

Financial Performance - Net sales for the three months ended December 31, 2022, increased by $135 million (4%) to $3,642 million compared to $3,507 million in the same period in 2021[127] - Net income attributable to Amcor plc increased by $234 million (104%) to $459 million for the three months ended December 31, 2022, driven by a $215 million pre-tax net gain from the disposal of the Russian business[128] - Diluted earnings per share (Diluted EPS) increased by $0.159 (107%) to $0.307 for the three months ended December 31, 2022, compared to $0.148 in the same period in 2021[128] - Gross profit for the three months ended December 31, 2022, was $662 million (18.2% of net sales), up from $645 million (18.4%) in the same period in 2021[116] - Operating income for the three months ended December 31, 2022, was $559 million (15.3% of net sales), a significant increase from $322 million (9.2%) in the same period in 2021[116] - Net sales for the six months ended December 31, 2022, increased by $427 million (6%), with a 2% increase excluding raw material costs, currency impacts, and acquisition impacts[140] - Net income attributable to Amcor plc increased by $264 million (62%) for the six months ended December 31, 2022, mainly due to a $215 million pre-tax net gain from the disposal of the Russian business[141] - Net income attributable to Amcor plc for the six months ended December 31, 2022 was $691 million, up from $427 million in the same period in 2021[155] - Adjusted EBIT for the six months ended December 31, 2022 was $791 million, compared to $769 million in the same period in 2021[155] Segment Performance - The Flexibles segment's net sales increased by $99 million (4%) to $2,812 million for the three months ended December 31, 2022, compared to $2,713 million in the same period in 2021[129] - Adjusted EBIT for the Flexibles segment was $353 million (12.6% of net sales) for the three months ended December 31, 2022, compared to $352 million (13.0%) in the same period in 2021[129] - Rigid Packaging Segment net sales increased by $36 million (4%) in Q4 2022, but decreased by $37 million (5%) excluding raw material cost pass-through and currency impacts[131] - Adjusted EBIT for Q4 2022 increased by $2 million (5%), with a 6% increase excluding currency impacts, driven by a 48% favorable price/mix[132] Disposal of Russian Business - The company sold its Russian manufacturing facilities for net cash proceeds of $365 million, with a pre-tax net gain of $215 million[123] - Restructuring and related activities, net, changed by $223 million in Q4 2022, mainly due to a $215 million pre-tax net gain from the disposal of the Russian business[135] Costs and Expenses - Consolidated gross profit increased by $17 million (3%) in Q4 2022, with gross profit as a percentage of net sales decreasing to 18.2% due to higher raw material costs[133] - Selling, general, and administrative expenses decreased by $5 million (2%) in Q4 2022, primarily due to positive currency impacts[134] - Interest expense increased by $40 million (103%) in Q4 2022, driven by higher interest rates on variable rate debt[136] - Interest expense increased by $59 million, or 75%, for the six months ended December 31, 2022, compared to the same period in 2021, driven by higher interest rates on variable rate debt[149] Tax and Income Mix - Effective income tax rate decreased by 14.3 percentage points in Q4 2022, primarily due to differences in income mix and discrete events[138] - The effective tax rate for the six months ended December 31, 2022 decreased by 10.7 percentage points to 11.6%, primarily due to differences in income mix and discrete events[150][151] Debt and Financing - Net debt increased to $6,065 million as of December 31, 2022, up from $5,715 million as of June 30, 2022[159] - Net debt as of December 31, 2022, was $6.1 billion, compared to $5.7 billion as of June 30, 2022[178] - Undrawn credit facilities available as of December 31, 2022, amounted to $0.9 billion, with senior facilities maturing in April 2025 and April 2027[179] - The company entered into interest rate swap contracts for a total notional amount of $1.25 billion, with a weighted average fixed rate of 4.53%[176] Share Repurchases and Dividends - The company plans to repurchase up to $100 million in additional shares and use the remaining cash from the Russian business sale to reduce net debt[124] - The Board of Directors approved a $400 million share buyback program, with $40 million repurchased during the six months ended December 31, 2022[182] - Cash outflows for share purchases in the open market and using forward contracts totaled $221 million for the six months ended December 31, 2022[183] - The company held treasury shares at a cost of $18 million, representing 2 million shares as of December 31, 2022[183] - The company declared and paid cash dividends of $0.12 per ordinary share in Q1 FY2022 and $0.1225 per ordinary share in Q2 FY2022[180] Cash Flow - Net cash provided by operating activities decreased by $178 million for the six months ended December 31, 2022, compared to the same period in 2021, primarily due to higher working capital outflows[174] - Net cash used in/provided by investing activities increased by $289 million for the six months ended December 31, 2022, driven by disposal proceeds from the sale of the Russian business, partially offset by acquisitions and investments[174] - Net cash used in financing activities decreased by $145 million for the six months ended December 31, 2022, due to lower share buybacks and net debt drawdowns[175] Obligor Group Performance - The Obligor Group, consisting of Amcor plc and its guarantor subsidiaries, reported a net loss of $244 million for the six months ended December 31, 2022[166] - Total assets of the Obligor Group decreased to $12,554 million as of December 31, 2022, from $13,711 million as of June 30, 2022[167] - Total liabilities of the Obligor Group decreased to $18,536 million as of December 31, 2022, from $19,748 million as of June 30, 2022[167]

Amcor plc (NYSE:AMCR) Q2 2023 Results Conference Call February 7, 2023 5:30 PM ET Company Participants Tracey Whitehead - Head of Investor Relations Ron Delia - Chief Executive Officer Michael Casamento - Chief Financial Officer Conference Call Participants Anthony Pettinari - Citi John Purtell - Macquarie Asset Management George Staphos - Bank of America Larry Gandler - Credit Suisse Ghansham Panjabi - Baird Daniel Kang - CLSA Adam Samuelson - Goldman Sachs Nathan Reilly - UBS Mike Roxland - Truist Securit ...