Plastic packaging firm buy paying off for Aussie giant

Homegrown global consumer packaging group Amcor has posted a big jump in interim revenue following its $13 billion acquisition of a US competitor.

Amcor delivered $US11.1 billion ($15.8 billion) in net sales for the six months to December, up 70 per cent from a year ago, the Australian-founded, Switzerland-based company announced on Wednesday.

Amcor's underlying earnings - before interest, tax, depreciation, amortisation - grew 80 per cent to $US 1.7 billion ($2.4 billion), feeding into net income of $US439 million ($A627 million) for the half.

Amcor chief executive Peter Konieczny said that the benefits from the April 2025 acquisition of Indiana-based rigid plastic packaging company Berry Global were at the upper end of its expectations.

"Performance through the first half of the year supports our confidence in reaffirming fiscal 2026 earnings and free cash flow guidance," he said.

Amcor has been working on its "portfolio optimisation actions," Mr Konieczny said, positioning the company to be the global leader in consumer packaging and dispensing solutions for the major nutrition, health, beauty and wellness sectors.

Amcor produces packaging for products like baby wipes, bakery bags, shrink overwrap which is often used for items like paper towels, blister packs for medicines, and pouches for food and liquids like yoghurt, amongst others.

The company, which is listed in the US and Australia, reaffirmed its guidance of $US4 to $4.15 in earnings per share in 2025/26, and $US1.8 billion to $US1.9 billion (about $2.6 billion) in free cash flow.

Amcor will pay investors a second-quarter dividend of US 65 cents per share, up from 63.75 cents a year ago. Holders of its Australian-listed securities will receive an unfranked dividend of 93 cents per share.

Goldman Sachs analyst Niraj Shah said Amcor's earnings were four per cent below consensus estimates, but the mid-point of its full year guidance was 1.8 per cent ahead of expectations.

This means all eyes will be on its performance in the second half of 2025/26, he added.

Goldman Sachs has reiterated its buy rating and $86.55 twelve month price target on the company's Australian securities.

In morning trading on Wednesday, Amcor's ASX-listed CDIs (or Chess Depositary Interests) were changing hands at $63.94, up 1.4 per cent from Tuesday's close.