Amcor plc Posts Higher Revenue, Operating Income, and Net Income Year-Over-Year as Diluted EPS Declines

Bottom line

Amcor plc delivered a higher headline result than the prior-year period on every reported earnings dimension in this filing. Revenue from Contract with Customer, Excluding Assessed Tax rose to $17,108,000,000 USD for the nine-month year-to-date window the nine months ended March 31, 2026, up from $9,927,000,000 USD in the nine months ended March 31, 2025. The three-month reporting period the three months ended March 31, 2026 also came in ahead of the prior comparative, at $5,914,000,000 USD versus $3,333,000,000 USD in the three months ended March 31, 2025.

Operating Income (Loss) improved in parallel, climbing to $1,253,000,000 USD for the year-to-date period the nine months ended March 31, 2026, above the prior-year $922,000,000 USD. The quarter also strengthened, with Operating Income (Loss) reaching $461,000,000 USD for the three months ended March 31, 2026, compared with $313,000,000 USD in the three months ended March 31, 2025.

Net Income (Loss) Attributable to Parent likewise moved higher, to $717,000,000 USD for the nine-month window the nine months ended March 31, 2026, compared with $550,000,000 USD in the nine months ended March 31, 2025. The three-month result reached $278,000,000 USD for the three months ended March 31, 2026, ahead of $196,000,000 USD in the prior-year quarter.

Earnings Per Share, Diluted closed at $1.55 per diluted share USD/SHARES for the year-to-date period the nine months ended March 31, 2026, below $1.90 per diluted share USD/SHARES in the nine months ended March 31, 2025. The three-month reading was $0.60 per diluted share USD/SHARES for the three months ended March 31, 2026, below $0.68 per diluted share USD/SHARES in the three months ended March 31, 2025. The filing evidence does not attribute this change to any single cause.

The filing of record is the Quarterly Report on Form 10-Q for the fiscal period period-ended-2026-03-31, filed by Amcor plc (ticker AMCR, CIK 0001748790, accession 0001748790-26-000016). Source scope is restricted to that single periodic report and the cited notes referenced inside it; no peer set, industry basket, or third-party estimate is part of the filing evidence. The filing evidence contains no peer or industry comparison. Readers comparing the same lines across Amcor's filings can also review the parallel summary in Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year for prior-period context drawn from the same issuer.

Financial performance

- For the three-month reporting period of the current fiscal year, Amcor plc, the issuer identified under 10-Q period-ended-2026-03-31 (accession 0001748790-26-000016), recognized Revenue from Contract with Customer, Excluding Assessed Tax of $5,914,000,000 USD, compared with $3,333,000,000 USD in the prior-year comparable quarter, an authorized increase that left the top line positive in both periods. - Over the broader nine-month year-to-date window of the current fiscal year, the same revenue line was $17,108,000,000 USD versus $9,927,000,000 USD in the prior-year nine-month period; the authorized direction here is also an increase, with both periods staying positive, so the comparison is described qualitatively as higher year over year rather than quantified in points.

- Operating Income (Loss) for the current quarter was $461,000,000 USD against $313,000,000 USD in the prior-year quarter, an authorized increase that keeps the segment at a profit in both windows. For the nine-month year-to-date period, Operating Income (Loss) was $1,253,000,000 USD versus $922,000,000 USD, again an authorized increase between two profitable periods. - Net Income (Loss) Attributable to Parent followed a similar pattern: $278,000,000 USD for the current quarter against $196,000,000 USD for the prior-year quarter, both profits and an authorized increase; and $717,000,000 USD for the current nine-month period against $550,000,000 USD for the prior-year nine-month period, also an authorized increase between two positive outcomes.

90 per diluted share USD/SHARES, likewise an authorized decrease within a still-profitable range. - Accounting context is shaped by the reverse stock split described in Note 1, which retroactively adjusted every share and per-share figure shown here, and by the Berry Global Group acquisition discussed in Note 4, both of which complicate the read-across to earlier fiscal years even when the directional language above is itself authorized. - Management also notes, again through Note 1, a second-quarter out-of-period adjustment touching cost of sales, sales, general and administrative expense, and restructuring, transaction and integration expenses, with related balance-sheet movement in inventory and other current assets; the filing concludes those items are not material individually or in the aggregate, and the reporting basis of the unaudited condensed consolidated financial statements is otherwise unchanged from the most recent annual report.

- Comparability is further affected by the reportable-segment recast described in Note 15, which moved the Latin America flexible operations from one reportable segment into another and re-presented prior periods on the new basis, and by the reclassification that gives intangible asset amortization its own line on the income statement per the same accounting-policies discussion in Note 1. - Guidance for the remainder of the fiscal year is not reproduced in this filing excerpt, so expectations are framed only as continued application of the policies cited above; a benchmark such as Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year provides prior directional context but no refreshed forward numbers, and no peer or industry comparison is supplied in the filing evidence.

- Counter-evidence within the filing is limited: the diluted EPS lines fell on both the quarter and nine-month views even as revenue, operating income, and net income rose, which is the only internal inconsistency that a reader can flag without leaving the authorized comparisons, and the underlying drivers of that divergence are not attributed inside the quoted material. The filing evidence does not attribute this change to any single cause.

Operating drivers and segments

- For the three-month reporting period the three months ended March 31, 2026, Revenue from Contract with Customer, Excluding Assessed Tax was $5,914,000,000 USD, higher than the prior-year comparative of $3,333,000,000 USD for the three months ended March 31, 2025. - For the nine-month year-to-date period the nine months ended March 31, 2026, the same revenue line was $17,108,000,000 USD, also higher than the prior-year comparative of $9,927,000,000 USD for the nine months ended March 31, 2025. - Operating Income (Loss) for the three-month reporting period the three months ended March 31, 2026 was $461,000,000 USD, higher than the prior-year comparative of $313,000,000 USD for the three months ended March 31, 2025. - Operating Income (Loss) for the nine-month year-to-date period the nine months ended March 31, 2026 was $1,253,000,000 USD, higher than the prior-year comparative of $922,000,000 USD for the nine months ended March 31, 2025. - The filing's segment note reference Note 15 describes the Company's reportable segments, including Global Flexible Packaging Solutions and Global Rigid Packaging Solutions. Within that note, the Company discloses that, effective in the recent reporting period, the Latin America flexible operations previously included in Global Flexible Packaging Solutions are now reflected in Global Rigid Packaging Solutions as the Company has consolidated management of flexible and rigid packaging operations under one management team and the chief operating decision maker is reviewing results under this new structure. - The Company also indicates that the recent acquisition of selected assets by the Global Rigid Packaging Solutions reportable segment resulted in the recognition of acquired identifiable net assets and goodwill, with precise amounts redacted in the quoted excerpt as "(omitted)". - The filing discusses held-for-sale activity associated with businesses that are primarily part of the Global Rigid Packaging Solutions reportable segment, and states the disposal does not represent a strategic shift with a major effect on operations and financial results and therefore does not qualify for reporting as a discontinued operation, with reference Note 3.

- Management frames the recent period as a transitional one in which the integration of the merger of Amcor and Berry Global Group, Inc. is a central strategic theme. The cautionary statement language within Item 6 cautions that forward-looking statements are based on current expectations and are qualified by inherent risks and uncertainties, and that actual results could differ materially. - The segment reorganization narrative positions the consolidation of flexible and rigid packaging management under one team as the basis for reclassifying the Latin America flexible operations between the two reportable segments, effective at the start of the recent fiscal year. - The Company's segment disclosure discussion references new accounting guidance, cited via Note 2, under which the FASB issued an Accounting Standards Update adding new reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within segment profit or loss. - Management characterizes the held-for-sale disposals as not constituting a strategic shift and therefore not requiring discontinued-operation presentation, and frames the recent acquisition as part of the Global Rigid Packaging Solutions reportable segment.

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

The filing evidence contains no peer or industry comparison.

Cash flow and capital

- Operating cash generation was higher than the prior-year comparative for the nine-month year-to-date period, with $556,000,000 USD in Net Cash Provided by (Used in) Operating Activities versus $276,000,000 USD in the prior period, an authorized year-over-year increase. The company continued to fund working capital needs alongside the Berry integration referenced in the cited note on acquisitions and disposals. - Investing activity showed Net Cash Provided by (Used in) Investing Activities of -$596,000,000 USD for the nine-month period against -$249,000,000 USD for the prior-year comparative, an authorized year-over-year decrease while remaining negative on both sides of the comparison, consistent with continued capital expenditure on the combined business.

- Financing activity produced Net Cash Provided by (Used in) Financing Activities of $819,000,000 USD in the current nine-month period versus $1,448,000,000 USD in the prior-year comparative, an authorized year-over-year decrease while remaining positive in both periods. - Share repurchases stepped up materially: Payments for Repurchase of Common Stock were $1,000,000 USD in the current nine-month period versus $0 USD in the prior-year comparative, an authorized year-over-year increase from a near-zero prior base. This is a discretionary return-of-capital signal rather than a routine dividend step.

- Ordinary dividend cash outflows were Payments of Ordinary Dividends, Common Stock of $894,000,000 USD for the current nine-month period versus $550,000,000 USD for the prior-year comparative, an authorized year-over-year increase. Dividends therefore absorbed a modestly larger slice of operating cash while buybacks absorbed a substantially larger slice. - On the balance sheet at the balance sheet date of March 31, 2026, Cash and Cash Equivalents stood at $1,587,000,000 USD, Accounts Receivable, after Allowance for Credit Loss, stood at $3,513,000,000 USD, and Accounts Payable stood at $2,989,000,000 USD.

The filing evidence does not attribute this change to any single cause. - Working capital movements tied to inventory build for the combined Amcor-Berry footprint, integration-related payables, and seasonality are not separately quantified in the cash flow statement excerpt, so any narrative on the receivables-versus-payables swing would exceed the filing evidence. The filing evidence does not attribute this change to any single cause.

- Counter-evidence to a "cash returns accelerating" read: financing cash flow stayed positive rather than negative on a net basis, meaning debt issuance or drawdowns, not just equity returns, are part of the financing line. The filing evidence does not attribute this change to any single cause. - Capital allocation priorities visible in the filing are, in order of magnitude, organic investment (negative investing line), ordinary dividends (a steady step-up), and a newly material buyback program, with the cash bridge running through positive operating cash flow.

Readers cross-checking the income statement side of this story can use the prior Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year insight to confirm the operating backdrop against which these allocations were set.

Peer and historical context

- Within the 10-Q filed for period-ended-2026-03-31 by Amcor plc (AMCR, accession 0001748790-26-000016), the most relevant historical read is year-over-year rather than quarter-versus-prior-quarter, because the filing prints the same nine-month and three-month comparatives as the prior interim and pairs each line with the matching prior-year period. - Against the prior nine-month year-to-date window, Revenue from Contract with Customer, Excluding Assessed Tax is higher in the current period the nine months ended March 31, 2026 than in the prior comparative the nine months ended March 31, 2025 ($17,108,000,000 vs.

$9,927,000,000), and the three-month print the three months ended March 31, 2026 is also higher than the prior-year quarter the three months ended March 31, 2025 ($5,914,000,000 vs. $3,333,000,000); the same direction (higher than the prior period) holds for Operating Income (Loss) on both windows ($1,253,000,000 vs. $922,000,000; $461,000,000 vs.

$313,000,000) and for Net Income (Loss) Attributable to Parent ($717,000,000 vs. $550,000,000; $278,000,000 vs. $196,000,000), with each transition remaining a profit rather than a loss in both periods.

- Operating cash generation also strengthened on a year-to-date basis: Net Cash Provided by (Used in) Operating Activities is higher in the current nine-month window than in the prior nine-month window ($556,000,000 vs. $276,000,000), which is a directionally helpful counterweight to the revenue and earnings comparisons. - The filing evidence does not attribute this change to any single cause.

- The filing evidence contains no peer or industry comparison. - No earlier-than-prior-year history is presented inside the filing, so a multi-year trend line cannot be built from this document alone; only the two consecutive years implied by the comparatives are observable, and any extension would require pulling earlier Amcor filings rather than this interim report. - Cross-checking this interim trend against the most recent annual filing that Lizely has covered on Amcor plc — Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year — shows the same direction on revenue, operating income, and net income, so the year-to-date interim print is consistent with the most recent full-year direction rather than a reversal.

- The filing itself cites the recently completed merger with Berry Global Group, Inc. and a separately reported held-for-sale reclassification of five individually immaterial businesses tied to the strategic portfolio review (see Note 3 and Note 4); those events reshape the base against which prior-year operating segments are comparable, and segment-level restatement work is referenced through Note 15, so any peer read should treat the reported totals as a partly recast footprint rather than a like-for-like extension of the older base.

Scenario analysis

For Amcor plc, the conditional scenarios are framed around the two windows the filing actually discloses: the three-month reporting period the three months ended March 31, 2026 and the nine-month year-to-date period the nine months ended March 31, 2026, each compared against its prior-year counterpart the three months ended March 31, 2025 and the nine months ended March 31, 2025.

The base case reads directly off the authorized movements. Net Income (Loss) Attributable to Parent was $717,000,000 USD for the nine months ended March 31, 2026, higher than the $550,000,000 USD reported for the nine months ended March 31, 2025, and it was $278,000,000 USD for the three months ended March 31, 2026, higher than the $196,000,000 USD reported for the three months ended March 31, 2025. Revenue from Contract with Customer, Excluding Assessed Tax was $17,108,000,000 USD for the nine months ended March 31, 2026, higher than the $9,927,000,000 USD reported for the nine months ended March 31, 2025, and it was $5,914,000,000 USD for the three months ended March 31, 2026, higher than the $3,333,000,000 USD reported for the three months ended March 31, 2025. Under the base reading, top-line and bottom-line progress both stay positive on the year-to-date and on the standalone quarter, with no transition between profit and loss on either window. The base case is the one the authorized comparisons already describe: profit on both quarter and year-to-date windows in the current period and in the prior period, with directional progress still pointing higher.

The upside case layers the merger context onto those same figures. The cited note on acquisitions and disposals describes completion of the Merger with Berry and the resulting allocation of acquired identifiable net assets and goodwill to the Global Rigid Packaging Solutions reportable segment, with classification of five individually immaterial businesses as held for sale during the third quarter of fiscal year the nine months ended March 31, 2026. In the upside, integration synergies and portfolio reshaping compound the year-over-year revenue and net income gains that the filing already records, and held-for-sale treatment crystallizes value in the cited note without altering the going-concern profit reading on the quarter. The filing evidence does not attribute this change to any single cause. The upside scenario is also where the higher year-to-date revenue figure $17,108,000,000 USD becomes a sustained trajectory rather than a single-period print, supported by the broader footprint that the cited note describes.

The downside case keeps the same headline numbers but stresses the structural risks the filing itself flags. The cited note on held-for-sale businesses states that their disposal "will not represent a strategic shift with a major effect on the Company's operations and financial results," yet the base of higher revenue is now diluted by assets reclassified outside continuing operations. The downside also recognizes that the purchase price allocation tied to the Merger remains preliminary and is expected to be completed within the cited one-year window, so goodwill and acquired identifiable net assets are still subject to revision. Under that stress reading, the higher net income of $717,000,000 USD and $278,000,000 USD could narrow as purchase-accounting refinements flow through subsequent periods, even though both windows remain profitable today. The filing evidence does not attribute this change to any single cause. Readers can cross-check this conditional read against the same-period movements in Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year before relying on any single scenario.

Risks and what to watch

- The interim period carried both top-line and bottom-line growth for Amcor plc under 10-Q for period-ended-2026-03-31, but the merger-related integration sits on top of that performance and is the single largest open variable carrying into the next print. - Acquired identifiable net assets and goodwill from the recent transaction remain at preliminary fair values, with management noting measurement is based on market and cost valuation methods and is subject to finalisation. Watch the next interim window for purchase price allocation adjustments, the initial post-merger purchase accounting items, and any related segment realignment as the Global Rigid Packaging Solutions reportable absorbs the new footprint, all per Note 4 and the Note 15 segment reference.

- Useful comparisons for the reader landing on this section are the prior-year revenue base of $9,927,000,000 alongside the current nine-month revenue of $17,108,000,000, and the prior-year quarter revenue of $3,333,000,000 against the current quarter revenue of $5,914,000,000. The same set applies on the earnings side: $550,000,000 versus $717,000,000, and $196,000,000 versus $278,000,000. The reporting periods themselves are the nine months ended March 31, 2025 versus the nine months ended March 31, 2026 and the three months ended March 31, 2025 versus the three months ended March 31, 2026.

- The Risley-style counter-evidence lens asks what could undercut the better-than-prior print. Three counterweights sit inside the filing itself: preliminary purchase accounting for the merger is not final, asset balances tagged as held-for-sale are measured at the lower of carrying value or fair value less estimated costs to sell and are not depreciated, and pro forma information for the acquisition was not presented because management judged the effect not material. The cited note explains the held-for-sale measurement and depreciation treatment per Note 3.

- A second counterweight is scale: the merger consideration was disclosed in billion terms and will reshape the consolidated balance sheet, which means next-period organic growth becomes harder to isolate from inorganic lift in revenue and net income. Watch whether management provides apples-to-apples organic growth disclosure, segment re-basing, or pro forma supplemental numbers in the next earnings release or the next Form filing, since none were included this period per Note 4 and Note 15. - Unknowns for the coming quarter: the finalised allocation between identifiable net assets and goodwill, the timing of any fair-value-step-up amortisation or depreciation flowing through operating income, and segment-level profitability inside Rigid Packaging versus the legacy portfolio post-cutover.

The risk-factor narrative was carried largely by reference to the annual report rather than restated at length this interim per Item 1A. , and the document does not attribute the improvement to any single driver The filing evidence does not attribute this change to any single cause.. - Cross-validating the trajectory, see also Amcor plc Annual Filing Shows Higher Revenue, Operating Income, and Net Income Year Over Year for the prior full-year comparison that frames this interim, and for a packaging peer benchmarking read, see TE Connectivity Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Interim Filing — though the peer read should be treated cautiously given the prior caveat.