Amcor (AMCR) Delivers Solid Earnings Beat with Berry Global Integration Ahead of Plan
Key Takeaways
- Amcor reported fiscal fourth-quarter 2026 adjusted earnings per share (EPS) of $1.23, above the $1.19 analyst consensus, while full-year adjusted EPS rose 13% to $4.02.
- Net sales increased 26% year over year to $6.4 billion, ahead of the $6.05 billion consensus, supported by the Berry Global acquisition and higher raw-material pass-through.
- Berry integration synergies reached $115 million in the quarter and $285 million for fiscal 2026, roughly 10% above the company’s initial first-year target.
- Fiscal 2026 free cash flow came in at $1.3 billion, below guidance, as inventory held to protect customer supply during the Middle East conflict weighed on working capital.
- Amcor introduced adjusted EPS guidance of $1.80 to $1.90 for the six-month transition period ending December 31, 2026, as it shifts to a calendar-aligned fiscal year.
- The board declared a quarterly dividend of $0.65 per share, up from $0.6375.
Earnings Context and Why It Matters
This was Amcor’s final report under its June 30 fiscal year and the first full fiscal year since completing its all-stock combination with Berry Global on April 30, 2025. Investors were focused on whether the packaging leader could sustain margin expansion, confirm a volume inflection, and convert Berry synergies into earnings. The quarterly earnings release also served as a bridge to a new reporting structure, with Amcor moving its fiscal year-end to December 31. The results matter beyond a single quarter because they indicate whether the combined company can manage input-cost inflation, protect free cash flow, and maintain investment-grade credit metrics while integrating a transformative acquisition. To put the numbers in broader context, I also checked this using Tickeron’s AI Screener to see how Amcor compares with peers in the packaging sector.
Reported Results
For the quarter ended June 30, 2026, Amcor reported adjusted diluted EPS of $1.23, up 23% year over year and $0.04 above the $1.19 consensus. Net sales rose 26% to $6.4 billion from $5.1 billion, exceeding the $6.05 billion consensus. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 32% to $1.045 billion, while adjusted EBIT (earnings before interest and taxes) reached $836 million.
Net income was $389 million, reversing a $39 million prior-year loss. GAAP (generally accepted accounting principles) diluted EPS was $0.83, compared with a $0.10 loss a year earlier. Comparable volumes rose about 0.5% excluding non-core and divested operations, a sequential improvement of roughly 200 basis points. Segment margins expanded, with adjusted EBIT margins of 15.1% in flexible packaging and 12.3% in rigid packaging.
Fiscal 2026 free cash flow totaled $1.3 billion, below guidance, while adjusted free cash flow reached $1.593 billion before roughly $290 million of Berry transaction, restructuring, and integration costs. Net debt stood at $12.897 billion, with leverage of 3.5 times, in line with expectations. Amcor expects to recover more than $500 million of working-capital and integration-related cash flow over the next 12 months.
Market Reaction and Investor Sentiment
The stock delivered a muted response to an otherwise strong earnings beat. Amcor shares edged about 0.9% lower in premarket trading on August 12, 2026, and closed down 1.77% at $46.56, according to market data. Investors appeared to focus less on the EPS and revenue beats and more on the free cash flow shortfall, elevated inventory, and the transition-period guidance. The reaction suggests that sentiment is being shaped by balance-sheet and cash-conversion concerns rather than operating momentum, even as management pointed to improving volumes and faster-than-planned synergy capture.
Forward Outlook and Key Factors to Monitor
Amcor’s near-term focus is its transition period. For the six months ending December 31, 2026, the company guided to adjusted EPS of $1.80 to $1.90, with a midpoint of $1.85. For the September 2026 quarter, it projected adjusted EPS of approximately $0.92 to $0.98. Management expects leverage of 3.5 to 3.6 times by December 31, 2026, and continues to target roughly 3.0 times by the end of calendar 2027.
Cash flow recovery will be a central monitor. Amcor expects to recover more than $500 million over the next 12 months as Middle East-related working capital effects and integration costs unwind. Investors will also track whether the modest volume inflection continues across food service, pet care, and protein categories, and whether weakness in lower-margin healthcare categories stabilizes.
Looking further ahead, management has framed calendar 2027 as the first “clean” year for the combined company, with double-digit adjusted EPS growth targeted and the majority of the $650 million synergy program expected to be realized. Key factors include raw-material and resin cost trends, pricing actions, divestiture execution, and the pace of debt reduction.
Enhancing My Research with Tickeron Tools
In my own workflow I regularly use Tickeron’s AI Screener to scan for patterns and fundamentals across the packaging space. It helps me quickly compare metrics like margins, volume trends, and peer performance without spending hours on manual screens. This has become a useful complement when evaluating names like Amcor after earnings releases.
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Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
Momentum Indicator for AMCR turns negative, indicating new downward trend
AMCR saw its Momentum Indicator move below the 0 level on September 01, 2026. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 96 similar instances where the indicator turned negative. In of the 96 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for AMCR turned negative on August 25, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 53 similar instances when the indicator turned negative. In of the 53 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AMCR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AMCR advanced for three days, in of 286 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 201 cases where AMCR Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.771) is normal, around the industry mean (6.616). P/E Ratio (18.971) is within average values for comparable stocks, (28.056). Projected Growth (PEG Ratio) (1.021) is also within normal values, averaging (0.935). AMCR has a moderately high Dividend Yield (0.058) as compared to the industry average of (0.033). P/S Ratio (0.891) is also within normal values, averaging (1.319).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. AMCR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. AMCR’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock worse than average.
Industry description
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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General Information
a company, which engages in the provision of consumer packaging business.
Industry ContainersPackaging
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