Amcor (NYSE:AMCR) moved higher on Wednesday after reporting third-quarter results that topped Wall Street revenue expectations and raising its full-year outlook, supported by continued progress integrating its acquisition of Berry Global.
The packaging group posted adjusted earnings per share of $0.96, in line with analyst forecasts.
Revenue climbed to $5.91 billion, ahead of consensus estimates of $5.71 billion and up 77% from $3.33 billion in the same quarter last year.
Company raises earnings and cash flow outlook
Amcor increased its fiscal 2026 adjusted earnings-per-share guidance to a range of $3.98 to $4.03.
The midpoint of $4.01 came in above analyst consensus expectations of $3.91.
The company also updated its free cash flow forecast for fiscal 2026 to between $1.5 billion and $1.6 billion.
Shares rose approximately 3.6% following the announcement.
Integration synergies continue to build
Adjusted EBITDA increased 87% year over year to $892 million.
Adjusted EBITDA margin improved to 15.1%, compared with 14.3% in the prior-year period.
Amcor said it generated $77 million in acquisition-related synergies during the quarter, reaching the upper end of management expectations.
The company has also completed six divestiture agreements as part of its portfolio optimization strategy following the Berry acquisition, which closed on April 30, 2025.
Management highlights progress integrating Berry Global
“Third quarter results were in line with expectations and reflect the resilience of our business as we mark the first anniversary of bringing legacy Amcor and Berry together as One Amcor,” said Peter Konieczny, chief executive officer of the company.
“Over the past year, we have executed a smooth integration, built a strong leadership structure, and made meaningful progress on synergy delivery and portfolio optimization.”
Debt levels and geopolitical pressures remain in focus
Net debt stood at $14.27 billion as of March 31, 2026.
Amcor also said it continues working to limit the operational impact of the Middle East conflict while navigating a difficult global market environment.