Amcor PLC · Q2 2022 earnings

Briefing

Amcor delivered a solid first half result and reaffirmed fiscal 2022 outlook.

Amcor reported a solid first half result with net sales up 12% and adjusted EPS up 9%. The company reaffirmed its fiscal year 2022 outlook, expecting adjusted EPS growth of 7-11% and adjusted free cash flow of $1.1-$1.2 billion.

• Net sales of $6,927 million, up 12%.
• GAAP Net Income of $427 million, up 3%; GAAP earnings per share (EPS) of 27.9 cents per share, up 5%.
• Adjusted EPS of 35.8 cents per share, up 9% on a comparable constant currency basis.
• Adjusted EBIT of $769 million, up 5% on a comparable constant currency basis.

Headline financials

Revenue & EPS history

For the twelve month period ending June 30, 2022, the Company continues to expect: Adjusted EPS growth of approximately 7% to 11% on a comparable constant currency basis, or approximately 79.0 to 81.0 cents per share on a reported basis assuming current exchange rates prevail through fiscal 2022. Adjusted Free Cash Flow of approximately $1.1 to $1.2 billion. Approximately $600 million (previously $400 million) of cash to be allocated towards share repurchases in fiscal 2022.