Amcor (AMCR) investor relations material

Executive summary

• Celebrated the first anniversary of the Amcor-Berry merger, with smooth integration and robust synergy delivery, creating a unified organization.

• Six non-core business divestitures totaling $500 million advanced portfolio optimization.

• Q3 2026 net sales reached $5,914 million, up 77% year-over-year, with adjusted EBITDA up 87% to $892 million and adjusted EBIT up 79% to $687 million.

• Q3 adjusted EPS was $0.96 (up 6% YoY); YTD adjusted EPS was $2.79 (up 11% YoY).

• No material operational or financial impact from the Middle East conflict expected in Q4, but ongoing geopolitical and inflationary pressures persist.

Financial highlights

• Q3 adjusted EPS rose 6% year-over-year to $0.96; nine-month adjusted EPS up 11% to $2.79.

• Quarterly revenue reached $5.9 billion, EBITDA $892 million, and EBIT $687 million, all significantly higher year-over-year.

• Free cash outflow for Q3 was $39 million after $78 million in restructuring/integration costs.

• Quarterly dividend declared at $0.65 per share, up 2% year-over-year.

• Net debt as of March 31, 2026 was $14,266 million; leverage at 3.8x LTM EBITDA.

Outlook and guidance

• Fiscal 2026 adjusted EPS guidance is $3.98–$4.03, implying ~12% growth; Q4 EPS growth projected at over 20% year-over-year.

• Fiscal 2026 free cash flow guidance revised to $1.5–$1.6 billion due to higher inventory, down from $1.8–$1.9 billion.

• Year-end leverage expected at 3.4x–3.5x, with a clear path to 2.5x–3x as supply chains normalize and divestitures close.

• Board approved change of financial year end to December, with a six-month stub period in 2026.

• Commitment to investment-grade credit rating and annual dividend growth reaffirmed.