Amcor plc Files 10-Q for Q2 2024

TL;DR

Amcor plc filed its Q2 2024 10-Q. Check financials.

AI Summary

Amcor plc filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of their fiscal year. Key financial details and operational updates are provided within this report.

Why It Matters

This 10-Q filing provides investors and analysts with a crucial update on Amcor plc's financial performance and position as of the end of the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• Amcor plc (company) — Filer of the 10-Q
• 20241231 (date) — End of reporting period
• 20250205 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• amcr-20241231.htm (10-Q) — 1779KB
• exhibit22q22025.htm (EX-22) — 18KB
• exhibit311q22025.htm (EX-31.1) — 10KB
• exhibit312q22025.htm (EX-31.2) — 10KB
• exhibit32q22025.htm (EX-32) — 5KB
• amcr-20241231_g1.jpg (GRAPHIC) — 41KB
• 0001748790-25-000010.txt ( ) — 9331KB
• amcr-20241231.xsd (EX-101.SCH) — 48KB
• amcr-20241231_cal.xml (EX-101.CAL) — 75KB
• amcr-20241231_def.xml (EX-101.DEF) — 273KB
• amcr-20241231_lab.xml (EX-101.LAB) — 655KB
• amcr-20241231_pre.xml (EX-101.PRE) — 485KB
• amcr-20241231_htm.xml (XML) — 1623KB

Financial Statements (unaudited)

Financial Statements (unaudited) 6 Condensed Consolidated Statements of Income 6 Condensed Consolidated Statements of Comprehensive Income 7 Condensed Consolidated Balance Sheets 8 Condensed Consolidated Statements of Cash Flows 9 Condensed Consolidated Statements of Equity 10 Notes to Condensed Consolidated Financial Statements 11 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 35 Summary of Financial Results 35 Overview 36 Significant Developments Affecting the Periods Presented 36 Results of Operations 38 Presentation of Non-GAAP Information 44 Supplemental Guarantor Information 46 New Accounting Pronouncements 48 Critical Accounting Estimates and Judgments 48 Liquidity and Capital Resources 49 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 52 Part II Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults Upon Senior Securities 60 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 61 Item 6. Exhibits 62

Signatures

Signatures 63 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 or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business, the proposed Transaction and the ability to successfully complete the proposed Transaction and realize its expected benefits. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: occurrence of any event, change or other circumstance that could give rise to the termination

- 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 December 31, Six Months Ended December 31, ($ in millions, except per share data) 2024 2023 2024 2023 Net sales $ 3,241 $ 3,251 $ 6,594 $ 6,694 Cost of sales ( 2,615 ) ( 2,630 ) ( 5,309 ) ( 5,428 ) Gross profit 626 621 1,285 1,266 Selling, general, and administrative expenses ( 295 ) ( 299 ) ( 610 ) ( 601 ) Research and development expenses ( 27 ) ( 28 ) ( 55 ) ( 55 ) Restructuring and other activities, net ( 33 ) ( 24 ) ( 39 ) ( 52 ) Other income/(expenses), net 26 ( 28 ) 28 ( 46 ) Operating income 297 242 609 512 Interest income 9 11 20 21 Interest expense ( 81 ) ( 89 ) ( 167 ) ( 174 ) Other non-operating income/(expenses), net ( 1 ) 1 ( 2 ) — Income before income taxes and equity in income/(loss) of affiliated companies 224 165 460 359 Income tax expense ( 58 ) ( 28 ) ( 101 ) ( 67 ) Equity in income/(loss) of affiliated companies, net of tax 1 ( 1 ) 1 ( 2 ) Net income $ 167 $ 136 $ 360 $ 290 Net income attributable to non-controlling interests ( 4 ) ( 2 ) ( 6 ) ( 4 ) Net income attributable to Amcor plc $ 163 $ 134 $ 354 $ 286 Basic earnings per share: $ 0.113 $ 0.093 $ 0.245 $ 0.198 Diluted earnings per share: $ 0.113 $ 0.092 $ 0.244 $ 0.198 Note: Per share amounts may not add due to rounding. See accompanying notes to condensed consolidated financial statements. 6 Amcor plc and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2024 2023 2024 2023 Net income $ 167 $ 136 $ 360 $ 290 Other comprehensive income/(loss): Net gains on cash flow hedges, net of tax (a) 3 2 4 3 Foreign currency translation adjustments, net of tax (b) ( 106 ) 99 ( 105 ) 31 Excluded components of fair value hedges ( 22 ) — ( 11 ) — Pension, net of tax (c) ( 3 ) — ( 2 ) 1 Other compreh

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View this 10-Q filing on SEC EDGAR