Amcor plc Files Q1 Fiscal 2025 10-Q

TL;DR

Amcor's Q1 FY25 10-Q is in. Financials and operations detailed.

AI Summary

Amcor plc filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the first quarter of fiscal year 2025. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the packaging industry.

Why It Matters

This filing provides investors with a quarterly update on Amcor's financial health and operational performance, crucial for understanding the company's trajectory in the global packaging market.

Risk Assessment

Risk Level: medium — Quarterly filings can reveal shifts in financial performance, market conditions, or operational challenges that may impact the company's stock value.

Key Players & Entities

• Amcor plc (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241101 (date) — Filing date of the report
• 0001748790 (company) — Central Index Key for Amcor plc

FAQ

Key Financial Figures

• $0.01 — registered Ordinary Shares, Par Value $0.01 Per Share AMCR New York Stock Exchange

Filing Documents

• amcr-20240930.htm (10-Q) — 1308KB
• exhibit22q12025.htm (EX-22) — 18KB
• exhibit311q12025.htm (EX-31.1) — 10KB
• exhibit312q12025.htm (EX-31.2) — 10KB
• exhibit32q12025.htm (EX-32) — 5KB
• amcr-20240930_g1.jpg (GRAPHIC) — 41KB
• 0001748790-24-000034.txt ( ) — 7777KB
• amcr-20240930.xsd (EX-101.SCH) — 42KB
• amcr-20240930_cal.xml (EX-101.CAL) — 71KB
• amcr-20240930_def.xml (EX-101.DEF) — 238KB
• amcr-20240930_lab.xml (EX-101.LAB) — 611KB
• amcr-20240930_pre.xml (EX-101.PRE) — 442KB
• amcr-20240930_htm.xml (XML) — 1262KB

Financial Statements (unaudited)

Financial Statements (unaudited) 5 Condensed Consolidated Statements of Income 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Cash Flows 8 Condensed Consolidated Statements of Equity 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Summary of Financial Results 31 Overview 32 Significant Developments Affecting the Periods Presented 32 Results of Operations 33 Presentation of Non-GAAP Information 36 Supplemental Guarantor Information 38 New Accounting Pronouncements 40 Critical Accounting Estimates and Judgments 40 Liquidity and Capital Resources 41 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 44 Part II Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 47

Signatures

Signatures 48 3 Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this Quarterly Report on Form 10-Q refer to Amcor plc and its consolidated subsidiaries. This Quarterly Report on Form 10-Q contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: Changes in consumer demand patterns and customer requirements in numerous industries; the loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions; impacts of operating

- Financial Information

Part I - Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Amcor plc and Subsidiaries Condensed Consolidated Statements of Income (Unaudited) Three Months Ended September 30, ($ in millions, except per share data) 2024 2023 Net sales $ 3,353 $ 3,443 Cost of sales ( 2,694 ) ( 2,798 ) Gross profit 659 645 Selling, general, and administrative expenses ( 315 ) ( 302 ) Research and development expenses ( 28 ) ( 27 ) Restructuring and related expenses, net ( 6 ) ( 28 ) Other income/(expenses), net 2 ( 18 ) Operating income 312 270 Interest income 11 10 Interest expense ( 86 ) ( 85 ) Other non-operating expenses, net ( 1 ) ( 1 ) Income before income taxes and equity in loss of affiliated companies 236 194 Income tax expense ( 43 ) ( 39 ) Equity in loss of affiliated companies, net of tax — ( 1 ) Net income $ 193 $ 154 Net income attributable to non-controlling interests ( 2 ) ( 2 ) Net income attributable to Amcor plc $ 191 $ 152 Basic earnings per share: $ 0.132 $ 0.105 Diluted earnings per share: $ 0.132 $ 0.105 See accompanying notes to condensed consolidated financial statements. 5 Amcor plc and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended September 30, ($ in millions) 2024 2023 Net income $ 193 $ 154 Other comprehensive income/(loss): Net gains on cash flow hedges, net of tax (a) 1 1 Foreign currency translation adjustments, net of tax (b) 1 ( 68 ) Excluded components of fair value hedges 11 — Pension, net of tax (c) 1 1 Other comprehensive income/(loss) 14 ( 66 ) Total comprehensive income 207 88 Comprehensive income attributable to non-controlling interests ( 2 ) ( 2 ) Comprehensive income attributable to Amcor plc $ 205 $ 86 (a) Tax expense related to cash flow hedges $ ( 1 ) $ — (b) Tax benefit/(expense) related to foreign currency translation adjustments $ 1 $ ( 1 ) (c) Tax benefit related to pension adjustments $ — $ — See accompanying notes to condensed con

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View this 10-Q filing on SEC EDGAR