Brokers have doubled down on their buy recommendations for Amcor Plc (ASX: AMC) shares after the company delivered a solid set of second-quarter numbers on Wednesday.
The company said net sales were up 68% to $US5.45 billion, driven by its acquisition of Berry on April 30, 2025, while adjusted EBITDA rose 83% to $US826 million.
The company also reaffirmed its FY26 earnings per share guidance of $US4 to $US4.15.
The company added
Amcor's guidance for fiscal 2026 reflects a full 12 months ownership of the Berry business and does not take into account the impact of potential portfolio optimization actions that may be completed through the year.
Performing well
Amcor Chief Executive Officer Peter Konieczny said it was a solid result.
Our Q2 financial performance was in line with expectations in a challenging volume environment. Strong Adjusted EPS growth was driven by disciplined execution and synergy benefits from the Berry acquisition at the upper end of expectations. Performance through the first half of the year supports our confidence in reaffirming fiscal 2026 earnings and free cash flow guidance. Portfolio optimization actions are progressing well, positioning us to be the global leader in consumer packaging and dispensing solutions for nutrition, health, beauty and wellness.
Amcor said about $US2.2 billion in new sales were down to the Berry acquisition. It also said volumes were about 1.5% lower than in the same quarter of 2024.
The company declared a dividend of US65 cents per share, up from US63.75 cents per share for the same period the previous year.
Australian shareholders will receive an unfranked dividend of 93 cents per share.
Brokers like what they see
The analysts at Goldman Sachs and Jeffries ran the ruler over the results on Wednesday and said they were broadly in line with consensus expectations.
In a note to clients sent out on Wednesday, the Jefferies team said earnings per share was 3% higher than consensus while EBITDA was 2% lower "due to ongoing weakness in 'Non-Core Beverages' segment''.
Jefferies has a buy recommendation on the shares and a price target of $85.91.
Goldman Sachs said EBIT was weaker than expected, "albeit with net profit after tax/earnings per share more in line with market expectations''.
Goldman Sachs has a price target of $86.55 on Amcor shares.
Amcor shares were 5.4% higher on Wednesday at $66.51.
The company's Australian-traded shares were valued at $29.1 billion at the close of trade on Tuesday.
