Amcor (AMCR) reported net income of $242 million in the quarter ended September 30, 2026, down 8% from $262 million in the same period a year earlier. Earnings per share (EPS) were $0.52, versus $0.57 before. Revenue totaled $6,129 million, up 7%.
On an adjusted basis (non-GAAP, which excludes items the company considers not representative of operations), net income was $440 million and adjusted EPS was $0.95, versus $0.97 a year earlier. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $883 million, versus $909 million. Adjusted EBIT (earnings before interest and taxes) was $689 million, flat, with a margin of 11.2%.
Constant-currency revenue rose 6%. Volumes grew about 1%, with gains in pet food, foodservice and beauty and wellness. The pass-through of raw material costs contributed about $435 million. Free cash flow was negative $820 million, versus an outflow of $343 million a year earlier, due to working capital effects tied to resin price volatility following the conflict in the Middle East. Net debt was $14,011 million as of September 30, 2026.
The board declared a quarterly dividend of $0.66 per share, one cent above the $0.65 in the same quarter of the previous year, already adjusted for the 1-for-5 reverse stock split. The record date is November 25, 2026, and payment will be on December 16, 2026.
For the six-month transition period, from July 1 to December 31, 2026, Amcor lowered its adjusted EPS guidance to between $1.70 and $1.80, from $1.80 to $1.90, due to the timing of the pass-through of higher energy and distribution costs. Expected leverage on December 31, 2026 is about 3.6x, versus 3.5x to 3.6x previously.
