Group 1: Investment Recommendations - Odyssey Capital Advisors recommends staying long on the iShares Biotechnology ETF (NYSE:IBB) [1] - Gilman Hill Asset Management highlights Amcor plc (NYSE:AMCR) for its strong quarterly earnings and a 5.5% yield [1] - Virtus Investment Partners suggests Emerson Electric Co. (NYSE:EMR) as a solid industrial investment [3] Group 2: Company Earnings Reports - Amcor reported second-quarter earnings of 86 cents per share, exceeding the analyst consensus estimate of 85 cents per share, but quarterly sales of $5.449 billion fell short of the consensus estimate of $5.576 billion [2] - Emerson Electric reported first-quarter adjusted EPS of $1.46, beating the analyst consensus estimate of $1.41, while quarterly sales of $4.346 billion were slightly below the consensus estimate of $4.347 billion [4] Group 3: Stock Performance - iShares Biotechnology ETF gained 0.1% on Wednesday [5] - Amcor shares increased by 8.1% to close at $48.56 during the session [5] - Vanguard Emerging Markets Stock Index Fund fell by 0.6% on Wednesday [5] - Emerson Electric shares rose by 3.4% to settle at $157.32 during the session [5]

Financial Performance - Net sales for the three months ended December 31, 2025, increased by $2,208 million, or 68%, compared to the same period in 2024, reaching $5,449 million[157]. - Net income attributable to Amcor plc for the three months ended December 31, 2025, increased by $14 million, or 9%, to $177 million[158]. - Operating income for the three months ended December 31, 2025, was $331 million, representing 6.1% of net sales, down from 9.2% in the prior year[157]. - Net sales increased by $4,600 million, or 70%, for the six months ended December 31, 2025, compared to the same period in 2024[174]. - Net income attributable to Amcor plc increased by $85 million, or 24%, for the six months ended December 31, 2025, mainly due to an increase in gross profit and lower income tax expense[175]. - Gross profit increased by $878 million, or 68%, for the six months ended December 31, 2025, with gross profit as a percentage of net sales at 19.3%, remaining stable compared to 19.5% in 2024[181]. Merger and Integration - The merger with Berry Global Group, Inc. was completed on April 30, 2025, for a purchase consideration of $10.4 billion, excluding approximately $5.2 billion in assumed debt[149]. - The company targets approximately $530 million in pre-tax synergies from the Berry merger by the end of fiscal year 2028, with an estimated total pre-tax cash cost of $280 million for restructuring and integration activities[150]. - The company incurred $96 million in employee-related expenses and $30 million in integration activities in the first half of fiscal year 2026 as part of the Berry Plan[151]. - SG&A expenses increased by $185 million, or 73%, for the three months ended December 31, 2025, primarily due to the Merger[165]. - Amortization of acquired intangible assets increased by $104 million, or 260%, for the three months ended December 31, 2025, driven by additional intangible assets acquired in the Merger[166]. - Restructuring, transaction, and integration expenses increased by $154 million for the six months ended December 31, 2025, resulting from increased restructuring and transaction costs related to the Merger[185]. Segment Performance - Net sales for the Global Flexible Packaging Solutions Segment increased by $677 million, or 27%, for the three months ended December 31, 2025, compared to the same period in 2024[160]. - Adjusted EBIT for the Global Rigid Packaging Solutions Segment increased by $175 million, or 327%, for the three months ended December 31, 2025, compared to the same period in 2024[163]. - Adjusted EBIT for the Global Flexible Packaging Solutions Segment increased by $177 million, or 27%, for the six months ended December 31, 2025, compared to the same period in 2024[178]. - Net sales for the Global Rigid Packaging Solutions Segment increased by $3,220 million, or 210%, for the six months ended December 31, 2025, compared to the same period in 2024[179]. Economic Conditions - Economic conditions remain challenging, with softer consumer demand and higher costs impacting financial results, attributed to geopolitical tensions and inflation[154]. - The impact of highly inflationary accounting in Argentina resulted in foreign currency transaction losses of $15 million for the six months ended December 31, 2025[156]. Cash Flow and Debt - Net cash provided by operating activities increased by $211 million to $370 million for the six months ended December 31, 2025, compared to $159 million in the prior year[213][214]. - Net cash used in investing activities rose by $307 million to $441 million, driven by higher net purchases of property, plant, and equipment[215]. - Net cash provided by financing activities increased by $434 million to $291 million, primarily due to higher proceeds from long-term debt[216]. - As of December 31, 2025, the company's net debt was $14.1 billion, an increase from $13.3 billion as of June 30, 2025[222]. - The revolving senior bank debt facility had an aggregate limit of $3.75 billion, with $0.99 billion drawn as of December 31, 2025[223]. Shareholder Returns - The company declared a cash dividend of $0.6375 per ordinary share for the three months ended September 30, 2025, and $0.65 per ordinary share for the three months ended December 31, 2025[224]. - There were cash outflows of $22 million for share purchases in the open market during the six months ended December 31, 2025[227]. - The company did not maintain a share repurchase program in the six months ended December 31, 2025, as the prior program had expired[226]. Tax and Interest - The effective income tax rate decreased by 11.3 percentage points to 10.7% for the six months ended December 31, 2025, compared to 22.0% in 2024, mainly due to differences in non-deductible expenditures[189]. - Interest expense increased by $170 million for the six months ended December 31, 2025, primarily due to additional debt issued in the Merger[188]. Market Risk - There were no material changes in market risk during the three months ended December 31, 2025[229].

Core Viewpoint - Amcor Plc reported strong financial results for the half-year ending December 2025, leading to a 3% increase in share price, driven by the acquisition of Berry and positive growth in earnings metrics [1][2]. Financial Performance - For the six months ending December 2025, net sales rose by 70% to $11.2 billion [8] - Adjusted EBITDA grew by 89% to $1.7 billion [8] - Adjusted EBIT increased by 77% to $1.3 billion [8] - Adjusted earnings per share (EPS) climbed by 14% to $1.83 [8] - For the three months ending December 2025, net sales grew by 68% to $5.45 billion [8] - Adjusted EBITDA for the quarter rose by 83% to $826 million [8] - Adjusted EBIT for the quarter increased by 66% to $603 million [8] - Adjusted EPS for the quarter grew by 7% to $0.86 [8] - Free cash flow for the quarter was reported at $289 million [8] - A quarterly dividend of $0.65 per share was declared [8] Management Commentary - CEO Peter Konieczny stated that Q2 financial performance met expectations despite a challenging volume environment, with strong adjusted EPS growth attributed to disciplined execution and synergy benefits from the Berry acquisition [4] - The company is progressing well with portfolio optimization actions, aiming to become a global leader in consumer packaging and dispensing solutions [5] Future Outlook - Amcor reaffirmed its FY26 guidance, projecting adjusted EPS in the range of $4 to $4.15, indicating year-on-year growth of 12% to 17% in constant foreign exchange terms [6] - Free cash flow is expected to be between $1.8 billion to $1.9 billion [6]

Core Insights - Amcor reported $5.45 billion in revenue for the quarter ended December 2025, marking a year-over-year increase of 68.1% [1] - The EPS for the same period was $0.86, compared to $0.80 a year ago, indicating a positive growth trend [1] - The revenue reported was a slight miss of -1.75% compared to the Zacks Consensus Estimate of $5.55 billion, while the EPS exceeded the consensus estimate of $0.83 by +3.61% [1] Revenue Performance - Net Sales for Flexible Packaging reached $3.19 billion, slightly above the three-analyst average estimate of $3.18 billion, reflecting a year-over-year change of +27% [4] - Net Sales for Rigid Packaging was reported at $2.26 billion, which was below the estimated $2.32 billion, but showed a significant year-over-year increase of +210.1% [4] Profitability Metrics - Adjusted EBIT for Rigid Packaging was $228 million, compared to the average estimate of $241.92 million from three analysts [4] - Adjusted EBIT for Flexible Packaging was reported at $402 million, slightly below the average estimate of $409.65 million [4] Stock Performance - Amcor's shares have returned +3.4% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Adjusted EPS increased by 7% for the quarter and 14% for the first half, reflecting strong execution against market opportunities [8][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [10][11] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, up from the prior year [11][24] Business Line Data and Key Metrics Changes - Global Flexible Packaging Solutions segment sales increased by 23% on a constant currency basis, while volumes were down approximately 2% [19][20] - Global Rigid Packaging Solutions segment sales also increased significantly, with volumes flat compared to the prior year, excluding non-core businesses [22][23] - Adjusted EBIT for the Flexible segment rose 22% on a constant currency basis to $402 million, while the Rigid segment's adjusted EBIT was $228 million, up over last year [21][23] Market Data and Key Metrics Changes - In developed regions, volume trends were down low- to mid-single digits, with Europe being more challenged than North America [20][22] - Emerging markets showed low single-digit growth in Asia Pacific, offset by lower volumes in Latin America [20] - Focus categories such as pet food and meat proteins performed better than the broader portfolio, while other categories like liquids and unconverted film and foil saw lower volumes [20][21] Company Strategy and Development Direction - The company is focused on delivering core business performance, accelerating synergy realization, and optimizing its portfolio, particularly the $2.5 billion of non-core businesses [9][10] - The acquisition of Berry is seen as a transformative step, positioning the company for long-term growth and value creation [5][9] - The company aims to deliver at least $260 million of synergies in fiscal 2026 and a total of $650 million by fiscal 2028 [16][28] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while focusing on cost control and productivity improvements [33][34] - The company reaffirmed its financial guidance for the fiscal year, with adjusted EPS expectations updated to $4.00-$4.15 per share [9][25] - Management noted that while the market environment remains challenging, they are well-positioned to capture revenue synergies and improve performance in non-core businesses [40][52] Other Important Information - The company has made significant progress in safety performance, with a total recordable incident rate of 0.52, and 79% of all sites remained injury-free [6][7] - The new CFO, Steve Scherger, has been actively engaged in understanding the business and is expected to contribute to value creation [16][18] Q&A Session Summary Question: Volume expectations for the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for upside from revenue synergies [33][34] Question: Fourth quarter initiatives for guidance confidence - Management highlighted seasonality, synergy growth, and expected improvements in non-core businesses as key drivers for EBIT improvement in the second half [39][40] Question: Volume performance in major categories - Management noted that overall company volumes were down 2.5%, with core portfolio volumes down 1.5%, indicating performance in line with broader industry trends [43][45] Question: Non-core business EBIT expectations - Management expects non-core EBIT margins to return to more traditional levels of 7%-9% in the second half, driven by improved contractual terms and operational performance [55][72] Question: Synergy capture details - Management confirmed that synergy capture was evenly split between G&A and procurement, with expectations for continued ramp-up in the second half [65][66]

Financial Performance - The company reported adjusted EPS growth of 7% for Q2 and 14% for the first half, indicating strong execution against market opportunities [8][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [10][11] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, reflecting a commitment to annualized dividend growth [11][24] Business Segment Performance - In the Global Flexible Packaging Solutions segment, sales increased by 23% on a constant currency basis, driven primarily by the Berry acquisition, although volumes were down approximately 2% [19][20] - The Global Rigid Packaging Solutions segment also saw significant sales growth due to the acquisition, with volumes flat compared to the prior year, indicating a sequential improvement [22][23] - Focus categories such as pet food and meat proteins performed better than the broader portfolio, while other categories like liquids and unconverted film saw lower volumes [20][23] Market Dynamics - Volume trends in developed markets showed low- to mid-single-digit declines, with Europe facing more challenges than North America [20][22] - Emerging markets experienced low single-digit growth in Asia Pacific, offset by declines in Latin America, indicating mixed performance across regions [20][22] - The core portfolio's volume performance was approximately 1.5% lower than the prior year, reflecting market dynamics that remain largely unchanged [12][42] Company Strategy and Competitive Position - The company is focused on delivering core business performance, accelerating synergy realization, and optimizing its portfolio, which includes evaluating alternatives for $2.5 billion of non-core businesses [7][10] - The company aims to deliver at least $260 million in synergies for fiscal 2026, with a total of $650 million expected by fiscal 2028 [16][26] - The core portfolio, which includes health, beauty, wellness, protein, liquids, food service, and pet care, is positioned for sustainable long-term growth [11][12] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while also focusing on cost management [31][32] - The company reaffirmed its financial guidance for fiscal 2026, with adjusted EPS expectations updated to $4.00-$4.15 per share, reflecting a commitment to double-digit EPS growth [9][25] - Management highlighted the importance of customer relationships and the need for a balance between price and volume in the current market environment [76] Other Important Information - The company has made significant progress in integrating the Berry acquisition, with a focus on operational synergies and cost management [15][16] - The new CFO, Steve Scherger, has been actively engaged in understanding the company's strategic priorities and operational capabilities [18][19] Q&A Session Summary Question: Expectations for volume performance in the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for upside from revenue synergies [31][32] Question: Initiatives for fourth quarter guidance - Management highlighted seasonality, synergy growth, and improvements in non-core businesses as key drivers for expected EBIT improvement in the second half [36][37] Question: Volume performance relative to the broader industry - Management noted that overall company volume performance was down 2.5%, which is in line with broader industry trends, with core portfolio volumes down 1.5% [40][42] Question: Improvement expectations for non-core EBIT contribution - Management expects non-core EBIT margins to return to more traditional levels in the second half, with improvements driven by better contractual terms and pricing [50][51] Question: Exit rates on volume performance - Management stated that focus categories collectively outperformed the core business, with pet care showing strong growth and healthcare experiencing some weakness due to a weaker flu season [55][56]

Financial Performance and Key Metrics - Adjusted EPS increased by 7% for the quarter and 14% for the first half, reflecting strong execution against market opportunities [6][10] - Revenue for the quarter was $5.4 billion, with EBITDA of $826 million and EBIT of $603 million, significantly higher than the prior year due to the Berry acquisition and improved productivity [9][10] - Free cash flow was $289 million for the quarter, with a quarterly dividend declared at $0.65 per share, up from the prior year [10][24] Business Line Performance - Global Flexible Packaging Solutions segment sales increased by 23% on a constant currency basis, driven primarily by the Berry acquisition, although volumes were down approximately 2% [19][20] - Global Rigid Packaging Solutions segment sales also increased significantly on a constant currency basis, with volumes flat compared to the prior year, excluding non-core businesses [21][22] - Focus categories such as pet food and meat proteins showed higher volumes, while other categories like liquids and unconverted film and foil experienced lower volumes [20][45] Market Performance - Volumes in developed regions like North America and Europe were down low- to mid-single digits, with Europe facing more challenges than North America [19][20] - Emerging markets showed low single-digit growth in Asia Pacific, offset by modestly lower volumes in Latin America [19][20] - The core portfolio's volume performance was approximately 1.5% lower than the prior year, with focus categories outperforming the broader portfolio [11][45] Company Strategy and Industry Competition - The company is focused on delivering core business, accelerating synergy realization, and optimizing its portfolio, which includes evaluating alternatives for $2.5 billion of non-core businesses [5][8] - The company aims to deliver at least $260 million of synergies in fiscal 2026 and a total of $650 million by fiscal 2028 [16][26] - The management emphasizes the importance of innovation and leadership positions in core categories to drive long-term consumer demand [11][12] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half, expecting volume performance to remain consistent with the first half, while focusing on cost control and productivity improvements [32][34] - The company reaffirmed its financial guidance for the fiscal year, with adjusted EPS expectations updated to $4.00-$4.15 per share [7][25] - Management noted that while the market environment remains challenging, there are opportunities for revenue synergies and improved performance in non-core businesses [34][50] Other Important Information - The company has made significant progress in reducing headcount by over 600 as part of its integration roadmap [13] - The acquisition of Berry has positioned the company as a global leader in consumer packaging and dispensing solutions, enhancing its competitive advantage [4][16] Q&A Session Summary Question: Expectations for volume performance in the next two quarters - Management indicated that they expect volume performance to be consistent with the first half, with some potential for improvement driven by revenue synergies [32][34] Question: Initiatives for the fourth quarter and confidence in guidance - Management highlighted seasonality, synergy growth, and improvements in non-core businesses as key drivers for expected EBIT improvement in the second half [39][40] Question: Volume performance in major categories and market share - Management noted that overall company volumes were down 2.5%, with core portfolio volumes down 1.5%, indicating performance in line with broader industry trends [42][43] Question: EBIT contribution from non-core businesses in the second half - Management expects EBIT margins for non-core businesses to return to more traditional levels of 7%-8%, representing a $50 million improvement compared to the first half [51][52] Question: Impact of GLP-1 on nutrition business - Management acknowledged the potential structural headwind from increased GLP-1 use but emphasized their positioning to support customers in balancing price and volume [86][87]

分组1 - Amcor reported quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and showing an increase from $0.80 per share a year ago, resulting in an earnings surprise of +3.61% [1] - The company posted revenues of $5.45 billion for the quarter ended December 2025, which was 1.75% below the Zacks Consensus Estimate, and a significant increase from $3.24 billion in the same quarter last year [2] - Amcor has surpassed consensus EPS estimates only once in the last four quarters and has not beaten consensus revenue estimates during the same period [2] 分组2 - The stock's immediate price movement will largely depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Amcor shares have increased by approximately 4.9% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $5.81 billion, and for the current fiscal year, it is $4.01 on revenues of $23.11 billion [7] 分组3 - The Containers - Paper and Packaging industry, to which Amcor belongs, is currently ranked in the bottom 21% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - Amcor currently holds a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6]

Fiscal 2026 Second Quarter Results Peter Konieczny Chief Executive Officer Steve Scherger Chief Financial Officer 3 February 2026 5:30pm US EST 4 February 2026 9:30am Australian EDT 1 Disclaimers and Notes Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within th ...

Exhibit 99.1 Amcor Reports Solid Second Quarter Results and Reaffirms Fiscal 2026 Guidance Highlights - Three Months Ended December 31, 2025 Highlights - Fiscal First Half Ended December 31, 2025 Fiscal 2026 Guidance Reaffirmed: | (1)(2)(3) Key Financials | Three Months Ended | | Six Months Ended | | | --- | --- | --- | --- | --- | | | December 31, | | December 31, | | | GAAP results | 2024 $ | 2025 $ | 2024 $ | 2025 $ | | | million | million | million | million | | Net sales | 3,241 | 5,449 | 6,594 | 11,19 ...