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Amcor

AMCR Q2 2026 Earnings

Reported Feb 3, 2026 at 4:12 PM ET · SEC Source

Q2 26 EPS

$0.86

BEAT +2.75%

Est. $0.84

Q2 26 Revenue

$5.45B

MISS 1.25%

Est. $5.52B

vs S&P Since Q2 26

-21.4%

TRAILING MARKET

AMCR -16.4% vs S&P +5.0%

Market Reaction

Did AMCR Beat Earnings? Q2 2026 Results

Amcor delivered a mixed but broadly encouraging second quarter for fiscal 2026, beating on the bottom line while falling just short of revenue expectations as the packaging giant absorbed its first full quarter with Berry Global on the books. Adjuste… Read more Amcor delivered a mixed but broadly encouraging second quarter for fiscal 2026, beating on the bottom line while falling just short of revenue expectations as the packaging giant absorbed its first full quarter with Berry Global on the books. Adjusted EPS of $0.86 topped the $0.84 consensus by 2.75%, with the earnings strength anchored by $55 million in Berry-related synergies, achieved at the upper end of management's own targets and driven by G&A headcount reductions, procurement efficiencies, and financial optimization. Net sales of $5.45 billion rose 68.1% year over year, though they came in 1.25% below the $5.52 billion consensus, as approximately $2.20 billion in acquired Berry revenue masked an estimated 1.5% organic volume decline across legacy businesses. Adjusted EBITDA margin expanded to 15.2% from 14.0%, while net debt stood at $14.08 billion following the transformative acquisition. Truist Securities reiterated a Buy rating and $60 price target following the results. Amcor reaffirmed full-year fiscal 2026 adjusted EPS guidance of $4.00 to $4.15 and free cash flow of $1.80 billion to $1.90 billion, with at least $260 million in pre-tax synergies expected for the year.

Key Takeaways

  • • Berry Global acquisition contributed approximately $2.2 billion of acquired sales net of divestments in Q2
  • • Acquisition synergies of approximately $55 million in Q2, at upper end of expectations
  • • Disciplined execution against cost and productivity initiatives
  • • Adjusted EBITDA margin expansion to 15.2% from 14.0%
  • • Global Rigid Packaging Solutions adjusted EBIT margin improvement of 280 basis points to 10.1%
  • • Lower effective tax rate of 13.6% due to discrete tax events

AMCR Forward Guidance & Outlook

Amcor reaffirmed fiscal 2026 guidance: Adjusted EPS of $4.00 to $4.15, representing 12–17% constant currency growth compared with $3.56 in fiscal 2025, including pre-tax synergy benefits related to the Berry acquisition of at least $260 million. Free cash flow is expected to be $1.8 billion to $1.9 billion. Guidance reflects a full 12 months ownership of the Berry business and does not take into account potential portfolio optimization actions that may be completed through the year.

24/7 Wall St

AMCR YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

AMCR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q2 26

“Our Q2 financial performance was in line with expectations in a challenging volume environment. Strong Adjusted EPS growth was driven by disciplined execution and synergy benefits from the Berry acquisition at the upper end of expectations. Performance through the first half of the year supports our confidence in reaffirming fiscal 2026 earnings and free cash flow guidance. Portfolio optimization actions are progressing well, positioning us to be the global leader in consumer packaging and dispensing solutions for nutrition, health, beauty and wellness.”

— Peter Konieczny, Q2 2026 Earnings Press Release

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