Amcor Plc

Merger Completion and Synergy Expectations: Amcor successfully closed its merger with Berry Global ahead of schedule, which positions the company to accelerate earnings growth through $650 million of identified synergies over three years. In fiscal 2026 alone, $260 million of these synergies are expected to drive an approximate 12% EPS growth, providing a clear visibility on earnings enhancement irrespective of broader market conditions.

Q3 Financial Performance: Amcor reported net sales of $3.3 billion and EBIT of $384 million for Q3, both slightly higher compared to the previous year. Adjusted EPS grew by 5% on a comparable basis, reflecting disciplined execution despite a variable demand environment, particularly in North America where volumes declined.

Challenges in North American Beverage Segment: The North American Beverage business experienced a significant decline in volumes, dropping by high single digits due to weaker consumer demand, aligning with broader economic trends of inflation and changing shopping behaviors. This highlights a challenging landscape where consumers are increasingly cautious about their spending.