- Amcor PLC (NYSE:AMCR) reported FY21 sales growth of 3.2% year-on-year, to $12.86 billion.
- Flexibles revenue increased 3% Y/Y, and Rigid Packaging rose 4%.
- Gross profit rose 7.7% Y/Y to $2.7 billion with a profit margin of 21.2%.
- The operating margin was 10.3%, and operating income for the quarter rose 32.9% to $1.3 billion.
- Adjusted Free Cash Flow for FY21 was $1.1 billion. The net debt totaled $5.4 billion as of June 30, 2021.
- Adjusted EBITDA of $2 billion increased 6% Y/Y.
- Adjusted EPS of $0.74 rose 15.6% Y/Y.
- Amcor Board declared a quarterly cash dividend of $0.1175 per share.
- Outlook: Amcor sees FY22 adjusted EPS growth of 7% – 11% Y/Y on a comparable constant currency basis.
- Amcor expects to allocate $400 million of cash towards share repurchases in FY22.
- Price Action: AMCR shares closed lower by 1.06% at $12.10 on Tuesday.
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