Financial Performance - Net sales for the three months ended December 31, 2024, were $3,241 million, a decrease of $10 million compared to $3,251 million in the same period of 2023[129] - Gross profit for the same period increased to $626 million, representing a gross margin of 19.3%, compared to $621 million and 19.1% in 2023[129] - Operating income rose to $297 million, or 9.2% of net sales, up from $242 million and 7.4% in the prior year[140] - Net income attributable to Amcor plc increased by $29 million, or 22%, reaching $163 million for the three months ended December 31, 2024[141] - Diluted earnings per share increased by $0.021, or 23%, to $0.113 for the three months ended December 31, 2024[142] - Adjusted EBIT increased by $2 million, or 5%, for the three months ended December 31, 2024, compared to the same period in 2023, with a 10% increase excluding negative currency impacts[146] - Gross profit increased by $5 million, or 1%, for the three months ended December 31, 2024, driven by cost savings initiatives and increased sales volumes, resulting in a gross profit margin of 19.3%[147] - Net income attributable to Amcor plc increased by $68 million, or 24%, for the six months ended December 31, 2024, driven by an increase in gross profit and lower restructuring expenses[152] - Diluted earnings per share increased by $0.046, or 23%, for the six months ended December 31, 2024, reflecting a 24% increase in net income available to ordinary shareholders[153] - Gross profit increased by $19 million, or 2%, for the six months ended December 31, 2024, resulting in a gross profit margin of 19.5%[158] Segment Performance - The Flexibles Segment reported net sales of $2,511 million, an increase of $30 million, or 1%, compared to $2,481 million in 2023[143] - The Rigid Packaging Segment experienced a net sales decline of $40 million, or 5%, with sales of $730 million for the three months ended December 31, 2024[145] - Flexibles Segment net sales increased by $13 million for the six months ended December 31, 2024, with adjusted EBIT rising by $17 million, or 3%[154][155] - Rigid Packaging Segment net sales decreased by $113 million, or 7%, for the six months ended December 31, 2024, with adjusted EBIT increasing by $2 million, or 2%[156][157] Cash Flow and Debt - Net cash provided by operating activities decreased by $69 million to $159 million for the six months ended December 31, 2024[187][188] - Net cash used in investing activities decreased by $122 million to $134 million for the six months ended December 31, 2024, primarily due to proceeds from the sale of Bericap[189] - Net debt as of December 31, 2024, was $6.5 billion, an increase from $6.1 billion as of June 30, 2024[195] - Total assets as of December 31, 2024, were $15.5 billion, compared to $15.3 billion as of June 30, 2024[180] - Total liabilities as of December 31, 2024, were $20.4 billion, an increase from $20.0 billion as of June 30, 2024[180] - The company has undrawn committed credit facilities available amounting to $2.1 billion as of December 31, 2024[196] - A commitment letter for a $3.0 billion senior unsecured bridge loan facility was entered into to fund the repayment of certain outstanding debt of Berry upon the closing of the Merger[198] - As of December 31, 2024, the Company had no outstanding borrowings on the Bridge Facility, as the commitment had not been converted[199] Mergers and Restructuring - A merger agreement with Berry Global Group, Inc. was approved, with the transaction expected to close in mid-2025, subject to shareholder and regulatory approvals[131] - The company expects to realize an annualized pre-tax benefit of approximately $50 million from restructuring actions related to the 2023 Restructuring Plan by the end of fiscal year 2025[136] - Restructuring and other activities, net increased by $9 million for the three months ended December 31, 2024, primarily due to transaction costs related to the pending merger with Berry Global Group, Inc.[148] Market Conditions - The company continues to face challenges from softer consumer demand and higher costs, but has seen overall volume growth in the first half of fiscal year 2025[134] - Other income/(expenses), net changed by $54 million for the three months ended December 31, 2024, mainly due to lower negative impacts from inflationary accounting in Argentina and a gain on the sale of a 50% equity interest in Bericap North America[149] - Net sales decreased by $100 million, or 1%, for the six months ended December 31, 2024, with an unfavorable price/mix impact of approximately 3% partially offset by higher sales volumes of approximately 2%[151] Shareholder Returns - A cash dividend of $0.1250 per ordinary share was declared and paid during the three months ended September 30, 2024, and a cash dividend of $0.1275 per ordinary share was declared and paid during the three months ended December 31, 2024[200] - A $100 million buyback of ordinary shares and/or CHESS Depositary Instruments was approved, with $39 million remaining as of February 6, 2024, but no shares were repurchased during the six months ended December 31, 2024[202] - Cash outflows for the purchase of treasury shares were $47 million and $48 million during the six months ended December 31, 2024, and 2023, respectively[203] - As of December 31, 2024, the Company held treasury shares at a cost of $10 million, representing approximately 1 million shares[203] Risk Management - There have been no material changes in market risk during the three months ended December 31, 2024[204] - The Company has received investment grade credit ratings from two internationally recognized credit rating agencies, which facilitate issuing debt at favorable interest rates[201] - The Company entered into an interest rate swap contract for a notional amount of $400 million, paying a fixed rate of 4.30%[192]

Core Viewpoint - Amcor Plc reported second-quarter fiscal 2024 adjusted earnings per share (EPS) of 16 cents, meeting the Zacks Consensus Estimate, with revenues slightly declining year over year due to various unfavorable impacts [1][3]. Financial Performance - Adjusted EPS for the quarter was 16 cents, consistent with the previous year [1] - Net earnings per share, including special items, increased to 11 cents from 9 cents in the prior-year quarter [2] - Revenues decreased by 0.3% year over year to $3.24 billion, missing the Zacks Consensus Estimate of $3.44 billion [3] - The cost of sales fell by 0.6% to $2.62 billion, while gross profit rose by 0.8% to $626 million, resulting in a gross margin of 19.3% [4] - Adjusted operating income increased by 3% to $363 million, with an adjusted operating margin of 11.2% [5] Segment Performance - Flexibles segment net sales rose by 1.2% to $2.51 billion, with a volume increase of 3% [6] - Rigid Packaging segment reported a 5% decline in net sales to $730 million, with a volume decrease of 1% [8] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of the fiscal second quarter were $445 million, down from $588 million at the end of fiscal 2024 [10] - Net debt increased to $6.5 billion from $6.11 billion as of June 30, 2024 [10] Dividend and Guidance - The board declared a quarterly cash dividend of 12.75 cents per share, payable on March 18, 2025 [11] - Adjusted EPS guidance for fiscal year 2025 is projected to be between 72-76 cents, with adjusted free cash flow expected to be $900-$1,000 million [12] Strategic Developments - Amcor announced a merger agreement with Berry Global Group, expected to close in mid-2025, aiming to enhance growth by focusing on faster-growing, better-margin categories [13][15] - The merger is anticipated to yield $650 million in benefits from identified costs, growth, and financial synergies by the end of the third year post-closing [15] Stock Performance - Over the past year, Amcor's shares have increased by 3.7%, compared to the industry's growth of 11.3% [16]

Core Insights - Amcor reported revenue of $3.24 billion for the quarter ended December 2024, reflecting a year-over-year decline of 0.3% and a surprise of -5.79% compared to the Zacks Consensus Estimate of $3.44 billion [1] - The earnings per share (EPS) for the same period was $0.16, unchanged from the previous year, indicating no EPS surprise [1] Financial Performance Metrics - Net Sales for Flexible Packaging were $2.51 billion, below the two-analyst average estimate of $2.57 billion, with a year-over-year change of +1.2% [4] - Net Sales for Rigid Packaging were $730 million, compared to the average estimate of $801.20 million, representing a year-over-year decline of -5.2% [4] - Adjusted EBIT for Rigid Packaging was $53 million, lower than the average estimate of $58.56 million [4] - Adjusted EBIT for Flexibles was $322 million, compared to the average estimate of $331.91 million [4] Stock Performance - Amcor's shares have returned +1.4% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - Amcor reported quarterly earnings of $0.16 per share, matching the Zacks Consensus Estimate, with revenues of $3.24 billion, which fell short of expectations by 5.79% [1][2] Financial Performance - Earnings per share (EPS) for the quarter were $0.16, consistent with the previous year [1] - Revenues decreased slightly from $3.25 billion a year ago to $3.24 billion [2] - Over the last four quarters, Amcor has only surpassed consensus EPS estimates once [1] Market Performance - Amcor shares have increased by approximately 1.6% since the beginning of the year, compared to a 1.9% gain for the S&P 500 [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.20, with projected revenues of $3.61 billion, and for the current fiscal year, the EPS estimate is $0.74 on revenues of $14.08 billion [7] - The Containers - Paper and Packaging industry is ranked in the bottom 39% of Zacks industries, which may negatively impact Amcor's stock performance [8]

Financial Performance - Adjusted EPS for fiscal 2025 is projected to be between 72-76 cents per share, with Adjusted Free Cash Flow expected to be $900-1,000 million[2]. - Net sales for the first half of fiscal 2025 were $6,594 million, a 1% decrease compared to the previous year, impacted by foreign exchange rates[11]. - Adjusted EBIT for the first half of fiscal 2025 was $728 million, reflecting a 4% increase on a comparable constant currency basis[13]. - The company reported a GAAP net income of $354 million for the first half of fiscal 2025, with diluted EPS of 24.4 cents[4]. - Overall volume growth for the first half of fiscal 2025 was up 2%, with price/mix having an unfavorable impact of approximately 3%[12]. - On a comparable constant currency basis, net sales were approximately 3% lower than last year, reflecting approximately 2% lower volumes and an unfavorable price/mix impact of approximately 1%[35]. - Adjusted EBIT of $115 million was approximately 6% higher than last year on a comparable constant currency basis, with an adjusted EBIT margin of 7.5%, which is 60 basis points higher than last year[36]. - For the six months ended December 31, 2024, adjusted free cash outflow was $38 million, compared to an inflow of $52 million last year[40]. - The company reported a comparable constant currency growth of -1% for total net sales in the six months ended December 31, 2024[65]. - Adjusted EBITDA for the six months ended December 31, 2024, was $919 million, slightly up from $913 million in 2023, indicating a growth of 0.7%[70]. - Adjusted EBIT for the six months ended December 31, 2024, reached $728 million, compared to $709 million in 2023, reflecting a growth of 2.7%[75]. - The total EBIT for the six months ended December 31, 2024, was $608 million, an increase from $510 million in the same period of 2023, showing a growth of 19.2%[75]. Segment Performance - The Flexibles segment achieved net sales of $5,062 million, with a 3% increase in Adjusted EBIT to $651 million on a comparable constant currency basis[29]. - The Rigid Packaging segment reported net sales of $730 million, a 5% decrease from the previous year, with an Adjusted EBIT of $53 million, up 10% on a comparable constant currency basis[33]. - North America beverage comparable net sales and volumes declined at a mid single digit rate, while Latin America saw comparable net sales up mid single digits due to favorable price/mix benefits[35]. - The adjusted EBIT margin for the Rigid segment was 12.9% for the six months ended December 31, 2024, compared to 12.6% in 2023[75]. Cash Flow and Debt - Net debt was $6,496 million at December 31, 2024, with leverage measured at 3.3 times adjusted trailing twelve month EBITDA, expected to be at or below 3.0x by June 30, 2025[40]. - The net debt increased from $6,111 million as of June 30, 2024, to $6,496 million by December 31, 2024[77]. - The company reported an adjusted free cash flow of $(38) million for the six months ended December 31, 2024, down from $52 million in 2023[70]. Dividends and Shareholder Returns - The company declared a quarterly cash dividend of 12.75 cents per share, an increase from 12.5 cents per share in the same quarter last year[7]. - Basic earnings per share attributable to Amcor for the three months ended December 31, 2024, rose to $0.113, compared to $0.093 for the same period in 2023, marking a growth of 21.5%[60]. - The company reported an adjusted EPS of 24.4 US cents for the six months ended December 31, 2024, up from 19.8 US cents in 2023, marking a 23.2% increase[70]. Strategic Initiatives - The combination with Berry Global is expected to generate $650 million in identified synergies and enhance growth opportunities[3]. - The company continues to expect a range of factors that create uncertainty in estimating future financial results, including the potential impact from the merger with Berry Global[41]. - The company is focused on developing responsible packaging solutions and aims to increase the recyclability and use of recycled content in its products[47]. Miscellaneous - In the December 2024 quarter, net sales were $3,241 million, consistent with the previous year, despite a 1% negative impact from foreign exchange rates[14]. - Amcor's net sales for the three months ended December 31, 2024, were $3,241 million, a decrease of 0.3% compared to $3,251 million in the same period of 2023[60]. - Gross profit for the six months ended December 31, 2024, increased to $1,285 million, up from $1,266 million in the same period of 2023, reflecting a growth of 1.5%[60]. - Operating income for the three months ended December 31, 2024, was $297 million, representing a 22.8% increase from $242 million in the same period of 2023[60]. - Cash and cash equivalents at the end of the period increased to $445 million from $430 million at the end of the previous period[62]. - Amcor's net cash provided by operating activities for the six months ended December 31, 2024, was $159 million, down from $228 million in the same period of 2023[62]. - The company incurred restructuring and related expenses of $29 million in the six months ended December 31, 2024, down from $52 million in 2023[70]. - The impact of highly inflationary accounting was $5 million for the six months ended December 31, 2024, compared to $51 million in 2023[70]. - The conference call to discuss these results is scheduled for February 4, 2025, at 8:00 am US Eastern Standard Time[42].

December 2024 Quarter Highlights: Further sequential improvement in year over year volume growth; Net sales of $3,241 million; GAAP Net income of $163 million; GAAP diluted earnings per share (EPS) of 11.3 cps; Adjusted EBIT of $363 million, up 5% on a comparable constant currency basis; Adjusted EPS of 16.1 cps, up 5% on a comparable constant currency basis; and Announced highly complementary and financially compelling combination with Berry GlobalFiscal 2025 First Half Highlights: Net sales of $6,594 mill ...

Amcor Plc (AMCR) is scheduled to report second-quarter fiscal 2025  results on Feb. 4, after the closing bell.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for AMCR’s second-quarter revenues is pegged at $3.44 billion, indicating 5.8% growth from the year-ago reported figure.The consensus estimate for earnings is pegged at 16 cents per share. The consensus estimate has been unchanged in the past 60 days and indicates in-line results with the year-ago qua ...

Samuel Smith has a diverse background that includes being lead analyst and Vice President at several highly regarded dividend stock research firms and running his own dividend investing YouTube channel. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering from Texas A&M with a focus on applied mathematics and machine learning.Samuel leads the High Yield Inve ...

Albert Anthony is the pen name / stage name of markets analyst, contributor & host of The Future Investor, on the global investor platform Seeking Alpha, where he has covered over +200 companies, provides general markets commentary, and rates stocks in multiple sectors, while having grown a fan base of over +1K followers since 2023. Going beyond the investor platform, he is also a hobby investor of his own home-based fund called The Future Investor Fund, and talks investor topics on his Future Investor Chan ...

ZURICH, Jan. 21, 2025 /PRNewswire/ -- Amcor plc (NYSE: AMCR; ASX: AMC) will announce its fiscal 2025 second quarter and half year results for the three and six month period ended 31 December 2024 respectively, before the US market opens on Tuesday 4 February 2025.   A conference call and webcast to discuss the results will be held at 8.00am US Eastern Standard Time on Tuesday 4 February 2025 / 12.00am Australian Eastern Daylight Time on Wednesday 5 February 2025.  For those wishing to participate in the cal ...