Amcor entered into an Agreement and Plan of Merger with Berry Global Group, Inc. on November 19, 2024, under which each share of Berry common stock will be converted into 7.25 Amcor ordinary shares in the Merger, and the company expects the transaction to close in the middle of 2025.

10-QQuarterly reportFiled Feb 5, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 11, 2026

Key points

AI summary

Amcor entered into an Agreement and Plan of Merger with Berry Global Group, Inc. on November 19, 2024, under which each share of Berry common stock will be converted into 7.25 Amcor ordinary shares in the Merger, and the company expects the transaction to close in the middle of 2025.
Net sales decreased by $10 million for the 3 months ended December 31, 2024, while net income attributable to Amcor plc increased by $29 million, or 22%, the company said. It cited an increase in other income of $54 million and higher income tax expense of $30 million as key items.
For the 3 months ended December 31, 2024, the company said other items included a pre-tax gain on the disposal of Bericap of $15 million and transaction costs related to the Merger of $10 million. The company cited the tax impact of the Bericap divestiture among the factors for the effective tax rate increasing by 8.9 percentage points.
Net cash from operating activities decreased by $69 million for the 6 months ended December 31, 2024, the company said. As of December 31, 2024, net debt was $6.5 billion, and as of June 30, 2024, it was $6.1 billion, the company added.

Key figures

Quarter ended December 31, 2024

Revenue: $3.2B
Operating income: $297M
Net income: $163M
EPS: $0.11
Gross profit: $626M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Agreement and Plan of Merger with Berry Global Group, Inc.

Amcor entered into an Agreement and Plan of Merger with Berry Global Group, Inc. on November 19, 2024, under which each share of Berry common stock will be converted into 7.25 Amcor ordinary shares in the Merger, and the company expects the transaction to close in the middle of 2025.

Source · Based on the MD&A text of the filing

Quarterly Net Sales and Net Income Changes

Net sales decreased by $10 million for the 3 months ended December 31, 2024, while net income attributable to Amcor plc increased by $29 million, or 22%, the company said. It cited an increase in other income of $54 million and higher income tax expense of $30 million as key items.

Source · Based on the MD&A text of the filing

Bericap Disposal Items

For the 3 months ended December 31, 2024, the company said other items included a pre-tax gain on the disposal of Bericap of $15 million and transaction costs related to the Merger of $10 million. The company cited the tax impact of the Bericap divestiture among the factors for the effective tax rate increasing by 8.9 percentage points.

Source · Based on the MD&A text of the filing

Cash Flow and Net Debt for 6 Months

Net cash from operating activities decreased by $69 million for the 6 months ended December 31, 2024, the company said. As of December 31, 2024, net debt was $6.5 billion, and as of June 30, 2024, it was $6.1 billion, the company added.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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