Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year

Bottom line

For the twelve-month period covered by 10-K period-ended-2026-06-30 (accession 0001748790-26-000022, CIK 0001748790, ticker AMCR) filed by Amcor plc, the consolidated income statement shows $23,506,000,000 USD in revenue from contracts with customers versus $15,009,000,000 USD in the prior comparative twelve-month window — a higher top line year over year on an authorized increase basis. Operating performance followed the same direction: $1,899,000,000 USD in operating income versus $1,009,000,000 USD in the prior window, also moving higher on the authorized increase axis while remaining profitable in both years (profit-to-profit transition). Bottom-line net income attributable to the parent was $1,106,000,000 USD in the current twelve-month period versus $511,000,000 USD in the prior-year comparative, again a higher result on the authorized increase axis and a profit-to-profit transition. The filing evidence does not attribute this change to any single cause.

The source scope for this section is the body of the annual filing itself rather than the page header or the financial statements block, so the income-statement values above are taken from the consolidated results discussion referenced under Item 1A ("Management's Discussion and Analysis of Financial Condition and Results of Operations") and from the audited financial statements referenced under Item 8. Segment context, where relevant to readers, is drawn from the segment note referenced under Note 21 and the broader segment reference under Note 2. Forward-looking framing in the filing relies on the cautionary language that opens the annual report, and the enumerated risk factors enumerated there span demand, customer concentration, competition, integration, raw-material and energy costs, geopolitical exposure, climate, cybersecurity, indebtedness, foreign exchange, goodwill impairment risk, ESG and regulatory developments, and tax or trade-policy shifts — none of which the filing attributes as the cause of the current-period movement in the reported metrics. The filing evidence does not attribute this change to any single cause.

Management explanations in the forward-looking statement paragraph characterize the figures as the product of current expectations subject to inherent risk and uncertainty, but the filing does not isolate a single driver for the year-over-year movement in revenue, operating income, or net income. No analyst commentary, peer benchmarks, or industry comparisons are contained in the filing evidence, so any read-across to peers is unsupported by the source. The filing evidence contains no peer or industry comparison. Any reconciliation between the income-statement movement and the cash-flow or balance-sheet discussion belongs to later sections and is not asserted here.

Counter-evidence to a simple "higher across the board" read is limited to the authorized comparisons themselves, which describe only direction and sign class: revenue, operating income, and net income are each higher on the authorized increase axis, and each remains profitable in both periods. The filing does not provide an offsetting metric that would rebut that directional read in this section. Unknowns for this section include any quarter-by-quarter bridge, any price/volume/mix decomposition, any constant-currency restatement, and any non-GAAP reconciliation — none of which appear in the filing evidence supplied to this section, and none of which are therefore asserted.

Financial performance

- For the twelve-month window the twelve months ended June 30, 2026, Amcor plc reported Revenue from Contract with Customer, Excluding Assessed Tax of $23,506,000,000 USD, against $15,009,000,000 USD for the twelve months ended June 30, 2025. The comparison is authorized as a year-over-year direction increase. - Operating Income (Loss) moved from $1,009,000,000 USD in the twelve months ended June 30, 2025 to $1,899,000,000 USD in the twelve months ended June 30, 2026; both periods sit in profit and the comparison is authorized as a year-over-year increase. - Net Income (Loss) Attributable to Parent is reported as $511,000,000 USD in the prior-year twelve-month window and $1,106,000,000 USD in the twelve months ended June 30, 2026; both periods are in profit and the comparison is authorized as a year-over-year increase, with an authorized profit-to-profit transition. - The supplied catalog is an annual set with no interim quarterly keys attached, so a quarter-over-quarter movement cannot be read from the supplied evidence. - The filing narrative describes an expectation that, when full synergies are achieved, the strategic Merger with Berry is expected to further increase cash generation, enabling increased investment in organic growth and targeted acquisitions and sustaining the long-term shareholder value-creation track record; the supplied evidence does not contain a quantified synergy target or earnings guidance figure against which to anchor the twelve-month results. - Against the period-ended-2026-06-30 baseline, revenue, operating income, and net income all move in the same authorized direction of higher than the prior-year twelve-month period, so the comparison baselines are uniformly favorable to the current window.

Accounting context and segment framing - Segment disclosure for the company follows Accounting Standards Codification ("ASC") topic on Segment Reporting as referenced in the consolidated financial statements note Note 2 and the cross-referenced segment detail in Note 21. - The twelve-month window reported here is filed under the 10-K designation for 0001748790 with accession 0001748790-26-000022 and ticker AMCR; the audited statements appear within the financial statements block referenced as Item 8. - The governance disclosures incorporated by reference from Item 10, Item 1, the executive compensation discussion in Item 11, the principal accountant fee disclosure in Item 14, and the controls and procedures discussion in Item 9A sit alongside the analyst commentary but do not supply a separate revenue, operating income, or net income figure for this section to consume. - The risk-factor and management's discussion anchors referenced in Item 1A and the market-risk disclosure in Item 7 and Item 7A are companion sections but do not add numeric fact keys to this analysis. - Subsequent-event, legal-proceedings, and exhibit-index material covered by Note 20, Item 15, Item 16, and the related-party and ownership items in Item 13 and Item 12 likewise do not change the twelve-month results shown above.

Counter-evidence and unknowns - The supplied evidence offers no peer or industry comparison figures, so a benchmark against peers is not supported here; the reader-facing note for that absence is The filing evidence contains no peer or industry comparison.. - No single cause is attributed in the supplied evidence for the year-over-year changes in revenue, operating income, or net income; the reader-facing note for that absence is The filing evidence does not attribute this change to any single cause.. - Readers seeking a worked example of how to translate a period-over-period direction into a payback-style framing can refer to How to Calculate a Discounted Payback Period, though the filing supplies no project-level cash flow data for that calculation.

Operating drivers and segments

- The filing describes Amcor's operations through two reportable segments per Note 21 and Note 2: the Global Flexible Packaging Solutions segment and the Global Rigid Packaging Solutions segment, which together comprise the consolidated business of Amcor plc for the twelve months ended June 30, 2026. - The Global Flexible Packaging Solutions segment is characterized as a developer and supplier of flexible packaging, operating from a network of manufacturing and support facilities across multiple countries, with a workforce on the order of tens of thousands of employees.

The Global Rigid Packaging Solutions segment is characterized as a manufacturer of rigid packaging containers, closures, dispensing and pharma delivery devices, and related products, also with a global footprint. - Each segment contributed a share of consolidated net sales for the fiscal year, expressed by management as approximate percentages of the total. Within Item 7 and Item 7A, the quantitative and qualitative disclosures about market risk are presented alongside Item 8, which carries the audited consolidated financial statements and the report of the independent registered public accounting firm.

- At the consolidated level, $15,009,000,000 and $23,506,000,000 frame the year-over-year revenue line for the twelve months ended June 30, 2025 versus the twelve months ended June 30, 2026, while $1,009,000,000 and $1,899,000,000 frame the year-over-year operating profit line over the same comparison. Both revenue lines are positive in both windows; both operating income lines are positive in both windows. The authorized comparison for revenue is higher in the current twelve-month period than in the prior twelve-month period, and the authorized comparison for operating income is also higher in the current window than in the prior window, marking a profit-to-profit transition in both cases.

- No segment-level revenue, segment-level operating income, or segment-level margin figures are surfaced in the quoted evidence. The filing evidence contains no peer or industry comparison. applies to benchmark comparisons, and The filing evidence does not attribute this change to any single cause.

applies to any single-driver explanation for the consolidated revenue or operating income movement. - Management frames the forward-looking commentary in Item 16 and Item 1A using the customary safe-harbor vocabulary, listing terms such as "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," together with their negatives and other terms of similar meaning, and warning that actual results could differ materially.

- Management disclaims that neither Amcor nor its directors, executive officers, or advisors provides any representation, assurance, or guarantee that the events expressed or implied in forward-looking statements will occur, and warns that developed risks and uncertainties could have a material adverse effect on the business.

Cash flow and capital

- Operating cash flow for the twelve months ended June 30, 2026 printed as $2,151,000,000 USD, an authorized increase from the prior-year comparative of $1,390,000,000 USD for the twelve months ended June 30, 2025. Both periods are positive, and the year-over-year move is a directional change rather than a swing from inflow to outflow, so the cash-generating engine of the business reads as continuing to expand on a like-for-like basis. - Investing cash flow for the twelve months ended June 30, 2026 printed as -$524,000,000 USD, an authorized increase from the prior-year comparative of -$2,102,000,000 USD for the twelve months ended June 30, 2025.

Both periods are negative, which is consistent with the company remaining in a net-deployment posture; the period-to-period change is characterized here without a margin or driver story. Where the underlying cause of the change would otherwise be discussed, the filing does not isolate a single factor, so any causal narration is supplied as The filing evidence does not attribute this change to any single cause. rather than as analyst inference.

- Financing cash flow for the twelve months ended June 30, 2026 printed as -$1,343,000,000 USD, an authorized decrease from the prior-year comparative of $910,000,000 USD. The sign turned from positive to negative across the two periods, which is the most consequential directional signal in the cash flow statement for the year under review. - Share buybacks for the twelve months ended June 30, 2026 printed as $1,000,000 USD, an authorized increase from the prior-year comparative of $0 USD.

The prior period is recorded as zero, so the move is best described as a reactivation of repurchases rather than a scaling of an existing program, and the dollar amount of cash absorbed by buybacks stepped up against the prior year. - Cash dividends for the twelve months ended June 30, 2026 printed as $1,195,000,000 USD, an authorized increase from the prior-year comparative of $845,000,000 USD. Both periods are positive, so the dividend line is not a swing but a continued, higher cash outflow to ordinary shareholders.

- The balance sheet at the balance sheet date of June 30, 2026 shows $1,115,000,000 USD in cash and cash equivalents, against $3,639,000,000 USD of accounts receivable and $4,021,000,000 USD of accounts payable. The relationship between the three lines is read qualitatively: payables are present alongside the cash and receivable balances, and the period-to-period working-capital mix is not separately decomposed in this section because the ledger does not list a movement for any of these three items. - Cross-checking the three cash-flow lines against the capital-return lines: operating cash flow was positive in both years, investing cash flow was negative in both years, and the financing line moved from a positive prior-year base to a negative current-year position, with both buybacks and ordinary dividends described as higher than the prior year.

The combined picture is a company that funded higher capital returns and positive investing outflows while still producing positive operating cash, and the only year-over-year direction that is a sign change is the financing line. ](/insights/finance/aes-corp-interim-filing-shows-higher-revenue-and-a-loss-to-profit-swing-on-net/) review is a useful contrast. - Counter-evidence: the filing evidence contains no peer or industry comparison for any of these cash-flow, balance-sheet, or capital-return lines, so no cross-company ranking is asserted.

Where the filing does not tie a change to a single cause, the relevant note stands as The filing evidence does not attribute this change to any single cause. and the analysis does not substitute a margin, divestiture, or leverage story. - Unknowns: the cash flow statement itself is fully covered by the catalog, but the underlying drivers of the year-over-year swings in the investing and financing lines, the composition of the buyback line, the mix between dividends and repurchases within total capital return, and the post-period uses of the period-end cash balance are not separately broken out in the quoted filing narrative.

Peer and historical context

The filing evidence contains no peer or industry comparison.

Across the twelve-month periods of the twelve months ended June 30, 2025 and the twelve months ended June 30, 2026, the four headline lines that the filing surfaces in the consolidated income statement and cash flow statement move in the same direction versus the prior year. Revenue from Contract with Customer rose from $15,009,000,000 to $23,506,000,000, Operating Income moved from $1,009,000,000 to $1,899,000,000, and Net Income Attributable to Parent moved from $511,000,000 to $1,106,000,000. On the cash side, Net Cash Provided by Operating Activities moved from $1,390,000,000 to $2,151,000,000. The qualitative shape is a profit-to-profit year with the top line, the operating line, the bottom line, and operating cash flow all in the same direction versus the prior year, rather than a flat or mixed read.

The material does not provide any peer or industry benchmark for Amcor plc in this filing. The company-specific narrative on governance, environmental compliance, and human capital discusses the post-merger integration with Berry but does not compare top-line, operating, or bottom-line metrics with any named competitor or industry index. A reader trying to gauge whether the year-over-year movement is in line with, ahead of, or behind the packaging peer set therefore has no company-supplied anchor to lean on; the only cross-check available is the prior-year comparison embedded in the filing itself.

For a quick cross-reference of how a different issuer's profit-to-profit movement looks in a year-over-year frame, the parallel AES Corp interim filing shows higher revenue and a loss-to-profit swing on net income and diluted EPS for both the quarter and the six-month year-to-date period, while capital and dividend outflows also stepped up. profile uses a different transition shape, so it is not a clean read-across for AMCR.

The filing evidence does not attribute this change to any single cause.

Scenario analysis

- Anchored to the reported twelve-month results: Revenue from Contract with Customer, Excluding Assessed Tax of $15,009,000,000 for the twelve months ended June 30, 2025 and $23,506,000,000 for the twelve months ended June 30, 2026, with Net Income (Loss) Attributable to Parent of $511,000,000 and $1,106,000,000 across the same two windows. - The base case assumes the post-merger "One Amcor" integration continues at the pace described in the Human Capital narrative, with safety programs, talent reviews, and leadership development acting as the operating backbone rather than as a source of upside surprise. - Reported facts: revenue and net income both moved higher year over year on a profit-to-profit path for both lines, consistent with the machine-authorised comparisons for Operating Income (Loss) and Net Income (Loss) Attributable to Parent. - Management explanations: the narrative ties engagement, recognition programs, and structured performance management to execution consistency, but does not quantify a financial contribution from these programs. - Analyst inference: holding revenue and net income roughly flat at the reported twelve-month level, with the post-Berry cultural and operational alignment treated as the steady state. - Counter-evidence: the cited note on segments was the only numbered segment reference available, and no segment-level revenue or operating income split is disclosed here. - Unknowns: The filing evidence does not attribute this change to any single cause. - Unknowns: The filing evidence does not disclose segment-level detail for this dimension. - Unknowns: The filing evidence contains no peer or industry comparison.

- Reported facts: revenue grew year over year and net income also grew, both staying in profit territory across the comparison windows. - Management explanations: leadership points to a unified "One Amcor" culture, expanded talent programs, and strengthened Plant Leadership training as levers that should support the combined organization's performance. - Analyst inference: if those cultural and talent levers translate into pricing realisation, mix improvement, or higher plant throughput beyond the base, both Revenue from Contract with Customer, Excluding Assessed Tax and Net Income (Loss) Attributable to Parent could extend further above the reported twelve-month levels. - Counter-evidence: the filing does not quantify how the leadership development, recognition, or employee experience programs map to incremental revenue or margin, and segment-level contribution is not disclosed. - Unknowns: The filing evidence does not attribute this change to any single cause. - Unknowns: The filing evidence does not disclose segment-level detail for this dimension. - Unknowns: The filing evidence contains no peer or industry comparison.

- Reported facts: revenue and net income both grew year over year on a profit-to-profit basis, with operating cash flow also higher and investing cash flow less negative, while financing cash flow flipped from positive to negative and common-stock repurchases went from zero to a positive outflow. - Management explanations: the Human Capital discussion emphasises safety incidents, expired labor contracts, and the depth of integration work that still lies ahead, all of which can absorb management attention. - Analyst inference: a stumble in post-merger integration, contract renewals, or safety performance could compress margins and stall the revenue trajectory, leaving Net Income (Loss) Attributable to Parent near the reported twelve-month level rather than extending higher. - Counter-evidence: the financing-cash-flow swing and the new repurchase outflow show capital return stepping up, which can mask softer operating performance in a single year; the filing does not disclose segment-level downside sensitivities. - Unknowns: The filing evidence does not attribute this change to any single cause. - Unknowns: The filing evidence does not disclose segment-level detail for this dimension. - Unknowns: The filing evidence contains no peer or industry comparison.

Risks and what to watch

- Reported facts: For the twelve-month period covered by 10-K period-ended-2026-06-30, accession 0001748790-26-000022, Revenue from Contract with Customer, Excluding Assessed Tax rose versus the twelve months ended June 30, 2025, and Net Income (Loss) Attributable to Parent also expanded versus the prior period — both stayed in profit territory on a year-over-year basis, per $23,506,000,000, $15,009,000,000, $1,106,000,000 and $511,000,000. Net Cash Provided by (Used in) Financing Activities moved from a positive position to a negative one, Net Cash Provided by (Used in) Investing Activities became less negative, and Net Cash Provided by (Used in) Operating Activities strengthened, while Payments for Repurchase of Common Stock shifted from zero to positive and Payments of Ordinary Dividends, Common Stock increased — all relative to the twelve months ended June 30, 2025.

- Management explanations: The narrative emphasizes a unified "One Amcor" culture, leadership development, recognition programs, and a Code of Business Conduct and Ethics as governance and people-process foundations. The filing positions these as supports for engagement, retention, and consistent operating behavior across regions. - Analyst inference: A reader can triangulate three watchpoints from the disclosed flows.

First, the swing in financing cash from positive to negative alongside an emerging common-stock repurchase footprint suggests capital return is taking a larger share of cash deployment than in the prior period. Second, the simultaneous lift in operating cash flow and in dividends indicates the company is funding higher shareholder returns from internal generation rather than from new investing activity, since investing cash flow remains negative. Third, the profit-to-profit growth in both revenue and net income supports a read that operating execution, rather than only mix or currency, was part of the top-line expansion — although the catalog does not separate those effects.

- Counter-evidence: No counter-evidence to the upward direction is visible in the source record; every authorized year-over-year comparison is either an increase or, for financing cash, a documented shift toward outflows. There is no disclosed item in this section's ledger showing margin compression, a segment loss, or a one-time charge that would offset the reported gains. - Unknowns: Segment-level revenue and operating-income detail is not surfaced in this section's catalog, so The filing evidence does not disclose segment-level detail for this dimension.

applies to any Flexibles versus Rigid Packaging split. Peer or industry comparison data is also absent, so The filing evidence contains no peer or industry comparison. applies.

The filing evidence does not attribute the year-over-year changes to any single cause, so The filing evidence does not attribute this change to any single cause. applies to each of revenue, net income, and the cash-flow movements. - Metrics to watch next period: Track whether the profit-to-profit growth in Revenue from Contract with Customer, Excluding Assessed Tax and Net Income (Loss) Attributable to Parent persists in the twelve months ended June 30, 2025's successor; whether Operating Income (Loss) continues its profit-to-profit expansion; whether Net Cash Provided by (Used in) Operating Activities keeps rising while Net Cash Provided by (Used in) Investing Activities stays negative but improves; whether Payments of Ordinary Dividends, Common Stock steps up again; and whether Payments for Repurchase of Common Stock remains positive rather than reverting to zero.

Contingencies flagged under the cited note deserve attention alongside segment reporting under the cited notes, where future filings may begin to disclose the split currently absent here. Readers building scenario discipline around cash deployment timing can revisit basics such as How to Calculate a Discounted Payback Period when modeling capital-return cadence.