Amcor Reports 57% Revenue Surge as Berry Acquisition Drives Full-Year Growth
The Switzerland-based packaging giant posted fiscal 2026 net sales of $23.5 billion, with synergies from the transformative Berry deal exceeding initial expectations.
Strong Quarter Caps Transformative Year
Amcor plc reported fourth-quarter net sales of $6.4 billion, up 26% year-over-year, with the company attributing the growth largely to its acquisition of Berry Global and the pass-through of higher raw material costs (8-K filing, 2026-08-12). For the full fiscal year ended June 30, 2026, net sales reached $23.5 billion, representing 57% growth versus the prior year.
The company swung to net income of $389 million in the fourth quarter from a loss of $39 million in the prior-year period. Full-year net income more than doubled to $1.106 billion from $511 million. On an adjusted basis, diluted earnings per share rose 23% to $1.23 in the quarter and 13% to $4.02 for the full year.
Integration Momentum and Synergy Capture
CEO Peter Konieczny said the company "delivered strong operating performance in the fourth quarter despite a challenging macro environment," highlighting broad-based volume growth and effective management of "unprecedented input cost inflation" (8-K filing, 2026-08-12).
The Berry acquisition, which closed April 30, 2025, contributed approximately $7.9 billion in net sales for the full year. More significantly, Amcor reported synergy realization of approximately $240 million for fiscal 2026, with $100 million captured in the fourth quarter alone—a pace the company characterized as "ahead of plan."
Adjusted EBITDA reached $3.673 billion for the year, up 68% from $2.186 billion, while fourth-quarter adjusted EBITDA of $1.045 billion represented 32% growth. The company's adjusted EBIT margin expanded across both major segments.
Segment Performance
The Global Flexible Packaging Solutions segment generated $3.525 billion in fourth-quarter sales, up 16% on a constant currency basis, with adjusted EBIT margin expanding to 15.1% from 14.5%. The company estimated volumes were approximately 1% higher compared to combined legacy operations, with strength in pet food and protein categories offsetting healthcare softness.
The Global Rigid Packaging Solutions segment posted $2.873 billion in quarterly sales, up 35% on a constant currency basis, with adjusted EBIT margin improving to 12.3% from 10.5%.
Cash Generation and Capital Allocation
Free cash flow for fiscal 2026 totaled $1.303 billion, up 41% year-over-year, after funding approximately $290 million in transaction, restructuring, and integration costs. Net debt stood at $12.897 billion at year-end.
The board declared a quarterly dividend of 65.0 cents per share, compared with 63.75 cents in the prior year (adjusted for a 1-for-5 reverse stock split effected January 14, 2026). The dividend will be paid September 24, 2026, to shareholders of record as of September 4.
Transition Period Outlook
Amcor is transitioning to a December 31 fiscal year-end and will report a six-month transition period through December 31, 2026. For this period, the company expects adjusted EPS of $1.80 to $1.90 and leverage of 3.5x to 3.6x net debt to adjusted EBITDA.
MarginX data shows recent insider activity includes stock awards to Ryan D. Yost totaling 116,070 shares and a tax withholding transaction by Susana Suarez Gonzalez of 5,953 shares.
This article was generated by MarginX from the 8-K filing on 2026-08-12. It is not investment advice.