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Research Alert: Amcr Q3: Strong Berry Integration Drives Eps Growth Amid Volume Headwinds

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

AMCR's Q3 2026 adjusted EPS of $0.96 rose 6% Y/Y and came in $0.01 above the consensus view, while sales of $5,914M (+77%) exceeded consensus by $170M. The Berry acquisition delivered transformational results one year post completion, contributing $2.4B in sales and $239M in EBIT with EBITDA margins expanding 80 bps to 15.1%. We view the sustained earnings quality improvement as demonstrating strategic value, with Global Rigid Packaging particularly strong at $2,664M sales (+187%) and margin expansion to 10.4% from 7.6%. Management updated FY 26 guidance to $3.98-$4.03 for adjusted EPS (~12% growth) but revised FCF expectations to $1.5B-$1.6B from $1.8B-$1.9B due to higher inventory levels amid geopolitical disruptions. AMCR targets $270M in full-year pre-tax synergies and reached six divestiture agreements under the portfolio optimization plan. In our view, synergy delivery exceeding expectations demonstrates resilient execution despite persistent volume headwinds affecting the broader packaging sector.

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