Updates share movement, adds comments from Q3 earnings call

By Krisha Bhatt

May 6 (Reuters) - Packaging maker Amcor 4850.F, AMCR.N on Wednesday reported a 77% jump in third-quarter sales, driven almost entirely by its Berry Global acquisition, sending its U.S.-listed shares up about 7% in early trading.

In April 2025, Amcor completed the $8.43 billion acquisition of Berry Global, creating a consumer and healthcare packaging giant at a time of tepid demand for packaging material.

• The company, which supplies packaging to consumer goods giants such as PepsiCo PEP.O and Procter & Gamble PG.N, said sales rose to $5.91 billion from $3.33 billion a year ago.

• Amcor reported adjusted profit of 96 cents per share for the three months ended March 31, compared with 90 cents per share in the year-ago period.

• "We're not expecting the Middle East conflict to have any material impact on our Q4 earnings," CEO Peter Konieczny said on an earnings call.

• The company has minimal exposure to the Middle East, sourcing less than 5% of its resin from there, which limits any potential disruption, Konieczny added.

• Amcor cut its annual adjusted earnings to a range of $3.98 to $4.03 per share, from a prior forecast of $4.00 to $4.15, citing mitigating efforts linked to the Middle East conflict.

• It also cut its annual free cash flow forecast to $1.5 billion to $1.6 billion, from a previous $1.8 billion to $1.9 billion range.

• It expects fiscal 2026 capital spending in the range of $800 million to $900 million

• Beginning 2027, the company plans to initiate the migration and consolidation of select corporate functions to a new US headquarters in Miami, Florida.