Amcor reports first half results

Highlights – Six Months Ended December 31, 2021
•Net sales of $6,927 million, up 12%;
•GAAP Net Income of $427 million, up 3%; GAAP earnings per share (EPS) of 27.9 cents per share, up 5%;
•Adjusted EPS of 35.8 cents per share, up 9% on a comparable constant currency basis;
•Adjusted EBIT of $769 million, up 5% on a comparable constant currency basis;
•Increasing cash returns to shareholders: quarterly dividend of 12.0 cents per share; $600 million of sharerepurchases expected in fiscal 2022, including an additional $200 million announced today; and
•Full year outlook unchanged: Adjusted EPS growth of 7-11% on a comparable constant currency basis;Adjusted Free Cash Flow of $1.1-$1.2 billion.Solid first half result and outlook for fiscal 2022 unchangedAmcor

CEO Ron Delia said: “Amcor delivered a solid first half result as our teams continue to successfully navigate a persistently challenging and dynamic operating environment.”

“Across the business we continued to prioritize our customers and our scale and operational agility enabled us to service demand in key segments, driving growth and sales mix improvements. At the same time, we implemented a broad range of actions to recover higher input costs and manage through general inflation. As a result, sales grew 12% and we delivered 9 percent adjusted EPS growth year to date. We remain confident in the outlook for fiscal year 2022, enabling us to reaffirm guidance and increase cash returns to shareholders.”

“While the external environment will continue to evolve, we remain focused on executing our strategy for long-term value creation from the strong foundation established over the last several years. The Amcor investment case has never been stronger and we are increasing investments in premium segments like healthcare and protein, in emerging markets and in our innovation capabilities to drive growth and margin expansion. We also continue to advance our sustainability agenda and recently announced a commitment to achieve net zero greenhouse gas emissions by 2050, raising our own environmental aspirations and supporting our customers as they strive to achieve their own goals.”
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