Walmart Is Practically Giving Away This Acer Full-HD Monitor, Stock Is Already Running Low
For a sub-$100 monitor, the Acer SA1 is packed with features and quality. The 1080p resolution and 16:9 aspect ratio are good for gaming and great for everyday use. The 23.6-inch screen extends virtually across the entirety of the monitor's face for a frameless effect, and if you're taking advantage of this great Walmart deal and buying more than one Acer SA1, they look nearly seamless when placed next to each other in a multi-screen setup.
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PC and handheld gamers will appreciate some of the built-in features of the Acer SA1, even above the full-HD resolution and 16.7 million colors it reproduces. The Acer SA1 comes with AMD Radeon Freesync technology, which eliminates screen tearing and hesitation during gameplay by dynamically adjusting the monitor's refresh rate to match the frame rate of the graphics card.
That refresh rate is a crisp 100Hz, and with a 1 millisecond Visual Response Boost time, even rapid-fire action games come across smoothly without ghosting or smearing. We're not suggesting you play all day, but lengthy sessions are easier on your eyes thanks to the Acer SA1's VisionCare technologies which use blue light shielding and flicker-free viewing to reduce eye strain.
The gaming specs are certainly nice to have, especially from a sub-$100 monitor, but the Acer SA1 has the chops to become your everyday monitor for all uses. With the stand attached it's 15.67 inches tall, 21.22 inches wide, but only 7.44 inches deep, making it a perfect size for any desk or setup. And without the stand it's easily wall-mountable, with a slender weight under 6 pounds to ensure you're not stressing your wall anchors.
The Acer SA1 monitor comes with an HDMI cable, and also has a VGA port to go with the HDMI hookup. This monitor is easy on your eyes, easy to set up and use, and during this $30 off sale at Walmart, it's easy on your wallet as well. Missing out on this Walmart sale could mean missing out on the best sub-$100 monitor you can find.
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Yahoo
14 minutes ago
- Yahoo
NiCE Reports 12% Year-Over-Year Cloud Revenue Growth for the Second Quarter 2025 and Raises Full-Year 2025 EPS Guidance
Company exceeds high end of Q2 2025 total revenue guidance range Double-digit year-over-year EPS growth HOBOKEN, N.J., August 14, 2025--(BUSINESS WIRE)--NiCE (NASDAQ: NICE) today announced results for the second quarter ended June 30, 2025, as compared to the corresponding periods of the previous year. Second Quarter 2025 Financial Highlights GAAP Non-GAAP Total revenue was $726.7 million and increased 9% Total revenue was $726.7 million and increased 9% Cloud revenue was $540.8 million and increased 12% Cloud revenue was $540.8 million and increased 12% Operating income was $160.6 million and increased 25% Operating income was $219.7 million and increased 9% Operating margin was 22.1% compared to 19.4% last year Operating margin was 30.2% compared to 30.4% last year Diluted EPS was $2.96 and increased 69% Diluted EPS was $3.01 and increased 14% "We're pleased to report another strong quarter, with total revenue reaching $727 million—surpassing the high end of our guidance range—and earnings per share of $3.01 at the top of the expected range," said Scott Russell, CEO of NiCE. This performance was driven by continued strength in our cloud business, which grew 12% year-over-year. A key catalyst behind this momentum is the accelerating demand for AI and self-service solutions, with annual recurring revenue in this part of our business rising an impressive 42% compared to the same period last year. Mr. Russell continued, "AI is at the core of our strategy, and we are at the forefront of the AI-first transformation in the customer experience market. And this is just the beginning. Our momentum is set to accelerate further with the upcoming integration of Cognigy's industry-leading CX-AI conversational and agentic capabilities upon closing of the transaction, enabling us to deliver truly human-like, AI-first customer experiences on CXone Mpower. Our continued leadership in AI innovation is powered by our solid financial foundation, strong profitability, and robust balance sheet, as well as a growing number of strategic partnerships secured over the past six months." GAAP Financial Highlights for the Second Quarter Ended June 30: Revenues:Second quarter 2025 total revenues increased 9% year over year to $726.7 million compared to $664.4 million for the second quarter of 2024. Gross Profit:Second quarter 2025 gross profit was $485.1 million compared to $439.6 million for the second quarter of 2024. Second quarter 2025 gross margin was 66.8% compared to 66.2% for the second quarter of 2024. Operating Income:Second quarter 2025 operating income increased 25% to $160.6 million compared to $128.8 million for the second quarter of 2024. Second quarter 2025 operating margin was 22.1% compared to 19.4% for the second quarter of 2024. Net Income:Second quarter 2025 net income increased 62% to $187.4 million compared to $115.8 million for the second quarter of 2024. Second quarter 2025 net income margin was 25.8% compared to 17.4% for the second quarter of 2024. Fully Diluted Earnings Per Share:Second quarter 2025 fully diluted earnings per share increased 69% to $2.96 compared to $1.76 in the second quarter of 2024. Cash Flow and Cash Balance:Second quarter 2025 operating cash flow was $61.3 million and $30.8 million was used for share repurchases. As of June 30, 2025, total cash and cash equivalents, and short-term investments were $1,631.7 million. Our debt, was $459.6 million, resulting in net cash and investments of $1,172.0 million. Non-GAAP Financial Highlights for the Second Quarter June 30: Revenues:Second quarter 2025 non-GAAP total revenues increased 9% year over year to $726.7 million compared to $664.4 million for the second quarter of 2024. Gross Profit:Second quarter 2025 non-GAAP gross profit increased to $503.9 million compared to $469.4 million for the second quarter of 2024. Second quarter 2025 non-GAAP gross margin was 69.3% compared to 70.7% for the second quarter of 2024. Operating Income:Second quarter 2025 non-GAAP operating income increased 9% to $219.7 million compared to $201.7 million for the second quarter of 2024. Second quarter 2025 non-GAAP operating margin was 30.2% compared to 30.4% for the second quarter of 2024. Net Income:Second quarter 2025 non-GAAP net income increased 9% to $190.3 million compared to $174.2 million for the second quarter of 2024. Second quarter 2025 non-GAAP net income margin totaled 26.2% compared to 26.2% for the second quarter of 2024. Fully Diluted Earnings Per Share:Second quarter 2025 non-GAAP fully diluted earnings per share increased 14% to $3.01 compared to $2.64 for the second quarter of 2024. Third Quarter and Full Year 2025 Guidance*: Third-Quarter 2025:Third-quarter 2025 non-GAAP total revenue is expected to be in a range of $722 million to $732 million, representing 5% year over year growth at the midpoint. Third-quarter 2025 non-GAAP fully diluted earnings per share is expected to be in a range of $3.12 to $3.22, representing 10% year over year growth at the midpoint. Full-Year 2025:The Company reaffirmed full-year 2025 non-GAAP total revenue which is expected to be in a range of $2,918 million to $2,938 million, representing 7% year over year growth at the midpoint. The Company raised full-year 2025 non-GAAP fully diluted earnings per share which is expected to be in a range of $12.33 to $12.53, representing 12% year over year growth at the midpoint. *The planned acquisition of Cognigy is expected to close during the fourth quarter of 2025, subject to regulatory approval, and therefore this guidance excludes any planned impact from this proposed transaction. Quarterly Results Conference Call NiCE management will host its earnings conference call today, August 14, 2025, at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. A live webcast and replay will be available on the Investor Relations page of the Company's website. To access, please register by clicking here: Explanation of Non-GAAP measuresNon-GAAP financial measures are included in this press release. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude share-based compensation, amortization of acquired intangible assets, acquisition related and other expenses, amortization of discount on debt and the tax effect of the Non-GAAP adjustments. The Company believes that these Non-GAAP financial measures, used in conjunction with the corresponding GAAP measures, provide investors with useful supplemental information about the financial performance of our business. We believe Non-GAAP financial measures are useful to investors as a measure of the ongoing performance of our business. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business and to make financial, strategic and operating decisions. These Non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. These Non-GAAP financial measures may differ materially from the Non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income. The Company provides guidance only on a Non-GAAP basis. A reconciliation of guidance from a GAAP to Non-GAAP basis is not available due to the unpredictability and uncertainty associated with future events that would be reported in GAAP results and would require adjustments between GAAP and Non-GAAP financial measures, including the impact of future possible business acquisitions. Accordingly, a reconciliation of the guidance based on Non-GAAP financial measures to corresponding GAAP financial measures for future periods is not available without unreasonable effort. About NiCENiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. Trademark Note: NiCE and the NiCE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NiCE trademarks, please see: Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as "believe", "expect", "seek", "may", "will", "intend", "should", "project", "anticipate", "plan", and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company's management regarding the future of the Company's business, performance, future plans and strategies, projections, anticipated events and trends, the economic environment, and other future conditions. Examples of forward-looking statements include guidance regarding the Company's revenue and earnings and the growth of our cloud, analytics and artificial intelligence business. Forward looking statements are inherently subject to significant uncertainties, contingencies, and risks, including, economic, competitive and other factors, which are difficult to predict and many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with changes in economic and business conditions, competition, successful execution of the Company's growth strategy, success and growth of the Company's cloud Software-as-a-Service business, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners, rapid changes in technology and market requirements, the implementation of AI capabilities in certain products and services; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications, loss of market share, cyber security attacks or other security incidents, privacy concerns and legislation impacting the Company's business, changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy, our ability to recruit and retain qualified personnel, the effect of newly enacted or modified laws, regulation or standards on the Company and our products, and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). You are encouraged to carefully review the section entitled "Risk Factors" in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this press release speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law. NICE LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands June 30, December 31, 2025 2024 Unaudited Audited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 535,050 $ 481,712 Short-term investments 1,096,638 1,139,996 Trade receivables 680,963 643,985 Prepaid expenses and other current assets 223,409 239,080 Total current assets 2,536,060 2,504,773 LONG-TERM ASSETS: Property and equipment, net 186,141 185,292 Deferred tax assets 243,665 219,232 Other intangible assets, net 191,613 231,346 Operating lease right-of-use assets 68,783 93,083 Goodwill 1,866,226 1,849,668 Prepaid expenses and other long-term assets 217,200 212,512 Total long-term assets 2,773,628 2,791,133 TOTAL ASSETS $ 5,309,688 $ 5,295,906 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 81,624 $ 110,603 Deferred revenues and advances from customers 355,944 299,367 Current maturities of operating leases 12,516 12,554 Debt 459,639 458,791 Accrued expenses and other liabilities 473,317 593,109 Total current liabilities 1,383,040 1,474,424 LONG-TERM LIABILITIES: Deferred revenues and advances from customers 66,645 66,289 Operating leases 66,879 92,258 Deferred tax liabilities 1,574 1,965 Other long-term liabilities 60,306 57,807 Total long-term liabilities 195,404 218,319 SHAREHOLDERS' EQUITY Nice Ltd's equity 3,731,244 3,589,742 Non-controlling interests - 13,421 Total shareholders' equity 3,731,244 3,603,163 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,309,688 $ 5,295,906 NICE LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME U.S. dollars in thousands (except per share amounts) Quarter ended Year ended June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited Revenue: Cloud $ 540,822 $ 481,693 $ 1,067,145 $ 950,099 Services 140,480 147,611 280,683 296,524 Product 45,410 35,096 79,076 77,086 Total revenue 726,712 664,400 1,426,904 1,323,709 Cost of revenue: Cloud 185,971 170,702 365,445 340,680 Services 48,254 46,663 94,497 92,749 Product 7,376 7,418 13,739 14,023 Total cost of revenue 241,601 224,783 473,681 447,452 Gross profit 485,111 439,617 953,223 876,257 Operating expenses: Research and development, net 89,762 86,522 178,864 174,354 Selling and marketing 169,799 157,645 331,233 312,660 General and administrative 64,958 66,626 134,365 138,980 Total operating expenses 324,519 310,793 644,462 625,994 Operating income 160,592 128,824 308,761 250,263 Financial and other income, net (14,820 ) (15,645 ) (30,670 ) (29,654 ) Income before tax 175,412 144,469 339,431 279,917 Taxes on income (11,992 ) 28,684 22,737 57,759 Net income $ 187,404 $ 115,785 $ 316,694 $ 222,158 Earnings per share: Basic $ 3.01 $ 1.82 $ 5.05 $ 3.50 Diluted $ 2.96 $ 1.76 $ 4.97 $ 3.36 Weighted average shares outstanding: Basic 62,160 63,534 62,754 63,406 Diluted 63,210 65,856 63,785 66,192 NICE LTD. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENTS U.S. dollars in thousands Quarter ended Year ended June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited Operating Activities Net income $ 187,404 $ 115,785 $ 316,694 $ 222,158 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 44,612 51,520 88,053 103,280 Share-based compensation 37,310 42,226 80,647 86,630 Amortization of premium and discount and accrued interest on marketable securities (2,029 ) (2,096 ) (4,304 ) (3,328 ) Deferred taxes, net (3,757 ) (15,773 ) (25,294 ) (11,407 ) Changes in operating assets and liabilities: Trade Receivables, net (30,742 ) (6,707 ) (26,064 ) 1,430 Prepaid expenses and other current assets (14,846 ) 1,740 13,709 10,501 Operating lease right-of-use assets 2,929 3,372 8,826 6,653 Trade payables 21,884 17,702 (31,407 ) 6,939 Accrued expenses and other current liabilities (158,979 ) (40,836 ) (109,461 ) (43,704 ) Deferred revenue (19,719 ) 4,742 49,855 50,281 Operating lease liabilities (746 ) (3,976 ) (10,935 ) (7,776 ) Amortization of discount on long-term debt 428 425 849 974 Other (2,427 ) 1,544 (4,775 ) 1,527 Net cash provided by operating activities 61,322 169,668 346,393 424,158 Investing Activities Purchase of property and equipment (4,579 ) (6,455 ) (8,246 ) (16,976 ) Purchase of Investments (24,687 ) (105,991 ) (74,141 ) (437,113 ) Proceeds from sales of marketable investments 76,416 51,971 134,774 568,121 Capitalization of internal use software costs (18,137 ) (15,238 ) (34,903 ) (31,174 ) Payments for business acquisitions, net of cash acquired - - (36,466 ) - Net cash provided by (used in) investing activities 29,013 (75,713 ) (18,982 ) 82,858 Financing Activities Proceeds from issuance of shares upon exercise of options 333 520 1,008 2,312 Purchase of treasury shares (30,839 ) (146,088 ) (283,168 ) (187,603 ) Dividends paid to noncontrolling interest - - - (2,681 ) Repayment of debt - - - (87,435 ) Net cash used in financing activities (30,506 ) (145,568 ) (282,160 ) (275,407 ) Effect of exchange rates on cash and cash equivalents 5,139 (1,309 ) 6,286 (3,248 ) Net change in cash, cash equivalents and restricted cash 64,968 (52,922 ) 51,537 228,361 Cash, cash equivalents and restricted cash, beginning of period $ 471,601 $ 794,597 $ 485,032 $ 513,314 Cash, cash equivalents and restricted cash, end of period $ 536,569 $ 741,675 $ 536,569 $ 741,675 Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet: Cash and cash equivalents $ 535,050 $ 739,556 $ 535,050 $ 739,556 Restricted cash included in other current assets $ 1,519 $ 2,119 $ 1,519 $ 2,119 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 536,569 $ 741,675 $ 536,569 $ 741,675 NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS U.S. dollars in thousands (except per share amounts) Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 GAAP revenues $ 726,712 $ 664,400 $ 1,426,904 $ 1,323,709 Non-GAAP revenues $ 726,712 $ 664,400 $ 1,426,904 $ 1,323,709 GAAP cost of revenue $ 241,601 $ 224,783 $ 473,681 $ 447,452 Amortization of acquired intangible assets on cost of cloud (13,202 ) (24,133 ) (28,605 ) (49,500 ) Amortization of acquired intangible assets on cost of product - (150 ) - (410 ) Cost of cloud revenue adjustment (1,2) (3,293 ) (2,852 ) (6,471 ) (5,854 ) Cost of services revenue adjustment (1) (2,241 ) (2,617 ) (4,696 ) (4,995 ) Cost of product revenue adjustment (1) (21 ) (30 ) (43 ) (60 ) Non-GAAP cost of revenue $ 222,844 $ 195,001 $ 433,866 $ 386,633 GAAP gross profit $ 485,111 $ 439,617 $ 953,223 $ 876,257 Gross profit adjustments 18,757 29,782 39,815 60,819 Non-GAAP gross profit $ 503,868 $ 469,399 $ 993,038 $ 937,076 GAAP operating expenses $ 324,519 $ 310,793 $ 644,462 $ 625,994 Research and development (1,2) (3,178 ) (7,484 ) (7,871 ) (15,627 ) Sales and marketing (1,2) (13,258 ) (13,210 ) (28,672 ) (27,382 ) General and administrative (1,2) (16,924 ) (17,429 ) (36,482 ) (37,260 ) Amortization of acquired intangible assets (6,956 ) (4,972 ) (11,649 ) (10,211 ) Valuation adjustment on acquired deferred commission - 8 - 23 Non-GAAP operating expenses $ 284,203 $ 267,706 $ 559,788 $ 535,537 GAAP financial and other income, net $ (14,820 ) $ (15,645 ) $ (30,670 ) $ (29,654 ) Amortization of discount on debt (428 ) (425 ) (849 ) (974 ) Change in fair value of contingent consideration - (35 ) - (79 ) Non-GAAP financial and other income, net $ (15,248 ) $ (16,105 ) $ (31,519 ) $ (30,707 ) GAAP taxes on income $ (11,992 ) $ 28,684 $ 22,737 $ 57,759 Tax adjustments re non-GAAP adjustments 56,627 14,963 66,720 28,779 Non-GAAP taxes on income $ 44,635 $ 43,647 $ 89,457 $ 86,538 GAAP net income $ 187,404 $ 115,785 $ 316,694 $ 222,158 Amortization of acquired intangible assets 20,158 29,255 40,254 60,121 Valuation adjustment on acquired deferred commission - (8 ) - (23 ) Share-based compensation (1) 38,915 43,622 83,840 89,266 Acquisition related and other expenses (2) - - 395 1,912 Amortization of discount on debt 428 425 849 974 Change in fair value of contingent consideration - 35 - 79 Tax adjustments re non-GAAP adjustments (56,627 ) (14,963 ) (66,720 ) (28,779 ) Non-GAAP net income $ 190,278 $ 174,151 $ 375,312 $ 345,708 GAAP diluted earnings per share $ 2.96 $ 1.76 $ 4.97 $ 3.36 Non-GAAP diluted earnings per share $ 3.01 $ 2.64 $ 5.88 $ 5.22 Shares used in computing GAAP diluted earnings per share 63,210 65,856 63,785 66,192 Shares used in computing non-GAAP diluted earnings per share 63,210 65,856 63,785 66,192 NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued) U.S. dollars in thousands (1) Share-based compensation Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Cost of cloud revenue $ 3,293 $ 2,852 $ 6,471 $ 5,792 Cost of services revenue 2,241 2,617 4,696 4,995 Cost of product revenue 21 30 43 60 Research and development 3,178 7,484 7,871 15,297 Sales and marketing 13,258 13,210 28,672 26,739 General and administrative 16,924 17,429 36,087 36,383 $ 38,915 $ 43,622 $ 83,840 $ 89,266 (2) Acquisition related and other expenses Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Cost of cloud revenue $ - $ - $ - $ 62 Research and development - - - 330 Sales and marketing - - - 643 General and administrative - - 395 877 $ - $ - $ 395 $ 1,912 NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP EBITDA U.S. dollars in thousands Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited GAAP net income $ 187,404 $ 115,785 $ 316,694 $ 222,158 Non-GAAP adjustments: Depreciation and amortization 44,612 51,520 88,053 103,280 Share-based compensation 37,310 42,226 80,647 86,630 Financial and other expense/ (income), net (14,820 ) (15,645 ) (30,670 ) (29,654 ) Acquisition related and other expenses - - 395 1,912 Valuation adjustment on acquired deferred commission - (8 ) - (23 ) Taxes on income (11,992 ) 28,684 22,737 57,759 Non-GAAP EBITDA $ 242,514 $ 222,562 $ 477,856 $ 442,062 NICE LTD. AND SUBSIDIARIES NON-GAAP RECONCILIATION - FREE CASH FLOW FROM CONTINUING OPERATIONS U.S. dollars in thousands Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited Net cash provided by operating activities $ 61,322 $ 169,668 $ 346,393 $ 424,158 Purchase of property and equipment (4,579 ) (6,455 ) (8,246 ) (16,976 ) Capitalization of internal use software costs (18,137 ) (15,238 ) (34,903 ) (31,174 ) Free Cash Flow (a) $ 38,606 $ 147,975 $ 303,244 $ 376,008 (a) Free cash flow from continuing operations is defined as operating cash flows from continuing operations less capital expenditures of the continuing operations and less capitalization of internal use software costs. View source version on Contacts Investor Relations Contact Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763-0127, ir@ CET Corporate Media Contact Christopher Irwin-Dudek, +1 201 561 4442, media@ ET
Yahoo
14 minutes ago
- Yahoo
Amcor reports fiscal 2025 Q4 results. Expects strong earnings growth in fiscal 2026.
Fourth Quarter ending June 30, 2025 highlights: All-stock acquisition of Berry Global Group, Inc. ("Berry Global") closed on April 30, 2025; Identified Amcor's core portfolio and optimization actions; Net sales $5,082 million, up 43% excluding currency impact; GAAP Net Income ($39) million including acquisition related costs; and Adjusted EBITDA $789 million up 43% and adjusted EBIT $611 million up 34% excluding currency impact. Fiscal Year ending June 30, 2025 highlights: Net sales $15,009 million, up 11% excluding currency impact; GAAP Net Income $511 million and GAAP diluted EPS 32.0 cps including acquisition related costs; Adjusted EBITDA $2,186 million, up 13%, and adjusted EBIT $1,723 million, up 12% excluding currency impact; Adjusted EPS 71.2 cps, up 3% excluding currency impact; and Adjusted Free Cash Flow $926 million, and annual dividend increased to 51 US cents per share. Fiscal 2026 outlook: Adjusted EPS of 80-83 cps representing 12-17% constant currency growth; Free Cash Flow of $1.8-1.9 billion. ZURICH, Aug. 14, 2025 /PRNewswire/ -- Milestone quarter leaves Amcor positioned to deliver strong earnings and free cash flow growth in FY26 Amcor CEO Peter Konieczny said, "This quarter marks a significant milestone for Amcor. The acquisition of Berry Global transforms our ability to create significant value for our customers and shareholders. This is clearly reflected in our expectation to deliver strong adjusted EPS growth of 12-17% and a significant increase in Free Cash Flow to $1.8 to $1.9 billion in fiscal 2026. Feedback from our customers has been positive and has already resulted in business wins directly linked to this combination. Integration efforts began on Day 1 and I am proud of the excellent progress our teams have made. We are tracking well against our synergy targets and our delivery run rate is building as expected. In addition, through our strategic portfolio review, we have identified Amcor's $20 billion core portfolio of consumer packaging and dispensing solutions for nutrition and health along with optimization actions designed to further sharpen our focus on attractive categories and drive faster growth. Our efforts share one common objective: to create an even stronger business, that is the global packaging partner of choice for our customers, and delivers higher levels of consistent organic growth and value for our shareholders." Key Financials(1)(2)(3) Three Months Ended June 30,Twelve Months Ended June 30, GAAP results2024 $ million2025 $ million2024 $ million2025 $ million Net sales3,5355,08213,64015,009 Net income257(39)730511 EPS (diluted US cents)17.8(1.9)50.532.0Three Months Ended June 30,Constant currency ∆%Twelve Months Ended June 30, Constant currency ∆% Adjusted non-GAAP results2024 $ million2025 $ million 2024 $ million2025 $ millionNet sales3,5355,0824313,64015,00911 EBITDA550789431,9622,18613 EBIT454611341,5601,72312 Net income305408341,0151,13613 EPS (diluted US cents)(4)21.120.0(5)70.271.23 Free Cash Flow837943952926 All amounts referenced throughout this document are in US dollars unless otherwise indicated and numbers may not add up to the totals provided due to rounding. Further details related to combined volume commentary throughout this document can be found under "Presentation of combined volume performance."(1) Adjusted non-GAAP results exclude items not considered representative of ongoing operations. Constant currency ∆% excludes movements in foreign exchange rates. Further details on non-GAAP measures and reconciliations to GAAP measures can be found under "Presentation of non-GAAP information" in this release. (2) Due to closing of the combination between Amcor and Berry Global on April 30, 2025, unless otherwise specified, all results within this document for the three months ended 30 June 2025 do not include the results for the legacy Berry Global business for the month of April 2025. Results for the twelve months ended 30 June 2025 do not include results for the legacy Berry Global business for the months of July 2024 to April 2025. (3) Unless otherwise specified, all results within this document for the three months ended 30 June 2024 and the twelve months ended June 30, 2024 reflect the historical results of the Amcor plc group which is considered the accounting acquirer in the combination between Amcor plc and Berry Global, which closed on April 30, 2025. (4) For fiscal 2025, the sum of quarters do not equal the total year amount due to the impact of changes in average quarterly shares outstanding. Berry Global acquisition On April 30, 2025, the all-stock acquisition of Berry Global was completed at a fixed exchange ratio of 7.25 Amcor ordinary shares for each Berry share. This transformational acquisition establishes Amcor as the global leader in consumer packaging and dispensing solutions for nutrition and health, with the unique material science and innovation capabilities to meet customers' and consumers' sustainability aspirations. With multiple new growth opportunities and $650 million of identified synergies through fiscal 2028, Amcor is well placed to deliver significant near- and long-term value for customers and shareholders. Segment reporting The Global Flexible Packaging Solutions segment includes Amcor's legacy Flexible Packaging business and the newly acquired Berry Global Flexibles business. The Global Rigid Packaging Solutions segment includes Amcor's legacy Rigid Packaging business and the newly acquired Berry Global Consumer Packaging International and Consumer Packaging North America businesses. Integration and synergies Amcor believes the company is well placed to achieve the previously announced total synergy benefits of $650 million (pre-tax) by the end of the 2028 fiscal year. Integration is proceeding in line with expectations and Amcor's teams are on track to deliver $260 million of synergy benefits (pre-tax) in the 2026 fiscal year which represents 12% accretion as a direct result of the acquisition. Given the April 30, 2025 transaction closing date, synergies delivered in the final two months of fiscal 2025 were not material. Portfolio review identifying Amcor's core portfolio and strategic optimization actions As previously communicated, the acquisition of Berry Global created a unique opportunity for the company to review its newly combined portfolio. Through this review, the company has identified its $20 billion core portfolio of consumer packaging and dispensing solutions for nutrition and health. This core portfolio is made up of leading positions in large, resilient, and growing health, beauty and wellness, nutrition and specialty end markets, where Amcor has global supply chain flexibility, an expanded multi-format product offering of innovative, high value solutions and significant room to grow. The Company also identified businesses with combined annual sales of approximately $2.5 billion that are less aligned with the core portfolio, including the $1.5 billion North America Beverage business and smaller businesses with combined annual sales of approximately $1 billion. Amcor is exploring alternatives to maximize value for each business, which may include restructuring, partnership and joint venture ownership models, cash sale or a combination thereof. The company believes these optimization actions will enhance focus on these businesses and ensure the core portfolio, drive higher levels of more consistent organic growth and create significant value for shareholders. The Company has initiated actions and while there is no definitive timeline, some progress is expected in fiscal 2026. The Company will remain disciplined and focused on maximizing value through the process. Shareholder returns The Amcor Board of Directors today declared a quarterly cash dividend of 12.75 cents per share (compared with 12.5 cents per share in the same quarter last year). Combined with the last three quarterly dividends, this increases the annual dividend for fiscal 2025 to 51.0 cents per share. The dividend will be paid in US dollars to holders of Amcor's ordinary shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an unfranked dividend of 19.59 Australian cents per share, which reflects the quarterly dividend of 12.75 cents per share converted at an AUD:USD average exchange rate of 0.6509 over the five trading days ended August 12, 2025. The ex-dividend date will be September 4, 2025 for holders of CDIs trading on the ASX and September 5, 2025 for holders of shares trading on the NYSE. For all shareholders, the record date will be September 5, 2025 and the payment date will be September 25, 2025. Financial results - Segment information Three months ended June 30, 2025 Three Months Ended June 30, 2024 Three Months Ended June 30, 2025 Adjusted non-GAAP results Net sales $ million EBIT $ million EBIT / Sales % Net sales $ million EBIT $ million EBIT / Sales % Global Flexible Packaging Solutions 2,686 403 15.0 3,205 450 14.1 Global Rigid Packaging Solutions 849 75 8.8 1,877 204 10.9 Other(1) — (24)— (43)Total Amcor 3,535 454 12.8 5,082 611 12.0 (1) Represents corporate expenses. Net sales of $5,082 million were 44% higher than last year on a reported basis, including a favorable impact of approximately 1% related to movements in foreign exchange rates. On a constant currency basis, net sales were 43% higher than last year, including approximately $1.5 billion of acquired sales net of divestments which represents growth of approximately 43%. The remaining year over year variation mainly reflects a favorable impact of approximately 1% related to the pass through of higher raw material costs. Price/mix had a favorable impact of approximately 1% driven by higher relative volume growth in high value categories, which partly offset an unfavorable volume impact of 1.7%. Year over year volume performance was similar for both legacy businesses. On a combined basis (includes volume performance for the three months ended June 30, 2025 for the legacy Amcor business combined with volume performance for the period May 1, 2025 to 30 June, 2025 for the legacy Berry business) the Company estimates that volumes were approximately 1.7% lower than the prior year, and approximately 1.4% lower than the prior year excluding North America beverage. Adjusted EBIT of $611 million was 34% higher than last year on a constant currency basis, including approximately $200 million of acquired EBIT net of divestments which represents growth of approximately 44%. The remaining year over year variation mainly reflects lower volumes, higher costs in North America beverage business and increased corporate expenses in line with expectations. Twelve months ended June 30, 2025 Twelve Months Ended June 30, 2024 Twelve Months Ended June 30, 2025 Adjusted non-GAAP results Net sales $ million EBIT $ million EBIT / Sales % EBIT / Average funds employed %(1) Net sales $ million EBIT $ million EBIT / Sales % EBIT / Average funds employed %(1) Global Flexible Packaging Solutions 10,332 1,395 13.510,872 1,458 13.4Global Rigid Packaging Solutions 3,308 259 7.84,137 375 9.1Other(2) — (94) — (110) Total Amcor 13,640 1,560 11.4 14.9 15,009 1,723 11.5 12.1 (1) Return on average funds employed includes shareholders' equity and net debt, calculated using a four quarter average and last twelve months adjusted EBIT. (2) Represents corporate expenses. Net sales of $15,009 million were 10% higher than last year on a reported basis, including an unfavorable impact of approximately 1% related to movements in foreign exchange rates. On a constant currency basis, net sales were 11% higher than last year, including approximately $1.5 billion of acquired sales, net of divestments which represents growth of approximately 10%. The remaining year over year variation mainly reflects a favorable impact of approximately 1% related to the pass through of higher raw material costs. Volumes were up approximately 1% compared with the prior year and price/mix had an unfavorable impact of approximately 1% primarily due to lower volumes in high value healthcare categories in the first half of the year. Adjusted EBIT of $1,723 million was 12% higher than last year on a constant currency basis including approximately $195 million of acquired EBIT net of divestments, which represents growth of approximately 13%. The remaining year over year variation mainly reflects an unfavorable price/mix impact on earnings, partly offset by benefits from strong cost performance and higher volumes. Global Flexible Packaging Solutions segment June 2025 quarterThree Months Ended June 30,Reported ∆%Constant currency ∆%2024 $ million2025 $ million Net sales2,6863,2051918 Adjusted EBIT4034501211 Adjusted EBIT / Sales %15.014.1 Net sales of $3,205 million were 19% higher than last year on a reported basis, including a favorable impact of approximately 1% related to movements in foreign exchange rates. On a constant currency basis, net sales were 18% higher than last year, reflecting approximately $420 million of acquired sales net of divestments which represents growth of approximately 16%. The remaining year over year variation mainly reflects a favorable impact of approximately 1% related to the pass through of higher raw material costs, a favorable price/mix impact of approximately 2%, reflecting higher relative volume growth in high value categories, and an unfavorable volume impact of approximately 1%. On a combined basis (includes volume performance for the three months ended June 30, 2025 for the legacy Amcor business combined with volume performance for the period May 1, 2025 to 30 June, 2025 for the legacy Berry business) the Company estimates that overall volumes for the Global Flexible Packaging Solutions segment were approximately 1.5% lower than the prior year. In North America, volumes were down in the low single digit range. Volumes were higher across focus categories including healthcare, protein (meat and dairy), and liquids. This was offset by lower volumes in other categories including home & personal care, confectionary and unconverted films. Across the balance of the portfolio, volumes were broadly in line with the prior year. In Europe, volumes were lower with growth in pet care, ready meals, medical and dairy, offset by declines in coffee, snacks and confectionary and beauty and wellness. Volumes grew in the low single digit range across emerging markets. Adjusted EBIT of $450 million was 11% higher than last year on a constant currency basis, reflecting approximately $50 million of acquired EBIT, net of divestments which represents growth of approximately 12%. The remaining year over year variation mainly reflects lower volumes and an unfavorable earnings impacts from price/mix, partly offset by favorable cost performance. Fiscal 2025Twelve Months Ended June 30, Reported ∆%Constant currency ∆%2024 $ million2025 $ million Net sales10,33210,87256 Adjusted EBIT1,3951,45855 Adjusted EBIT / Sales %13.513.4 Net sales of $10,872 million were 5% higher than last year on a reported basis, including an unfavorable impact of approximately 1% related to movements in foreign exchange rates. On a constant currency basis, net sales were 6% higher than last year, including approximately $410 million of acquired sales net of divestments which represents growth of approximately 4%. The remaining variation mainly reflects a favorable impact of approximately 1% related to the pass through of higher raw material costs, a favorable volume impact of approximately 2% with growth delivered across all key regions, partly offset by an unfavorable price/mix impact of approximately 1% primarily due to lower volumes in high value healthcare categories in the first half of the year. Adjusted EBIT of $1,458 million was 5% higher than last year on a constant currency basis, including approximately $50 million of acquired EBIT net of divestments, which represents growth of approximately 3%. The remaining year over year variation mainly reflects benefits from higher volumes and strong cost performance partly offset by unfavorable earnings impacts from price/mix. Global Rigid Packaging Solutions segment June 2025 quarterThree Months Ended June 30,Reported ∆%Constant currency ∆%2024 $ million2025 $ million Net sales8491,877121121 Adjusted EBIT75204173173 Adjusted EBIT / Sales %8.810.9 Net sales of $1,877 million were 121% higher than last year on a reported and constant currency basis, including approximately $1.1 billion of acquired sales net of divestments which represents growth of approximately 129%. The remaining variation mainly reflects an unfavorable volume impact of approximately 4% and an unfavorable price/mix impact of approximately 4%. Movements in foreign exchange rates and the pass through of higher raw material costs had no material impact on sales for the quarter. On a combined basis (includes volume performance for the three months ended June 30, 2025 for the legacy Amcor business combined with volume performance for the period May 1, 2025 to 30 June, 2025 for the legacy Berry business) the Company estimates that overall volumes for the Global Rigid Packaging Solutions segment were approximately 2% lower than the prior year and approximately 1% lower than the prior year excluding North America beverage. In North America, volumes declined at low single digit rates excluding North America beverage. Volumes were higher across healthcare, beauty and wellness and foodservice categories. This was more than offset by volume declines in food and specialty end markets. Across the balance of the portfolio, volumes in Europe were in line with the prior year with growth in food and healthcare end markets offset by lower volumes in beauty and wellness categories. Volumes were modestly higher across emerging markets. Adjusted EBIT of $204 million was 173% higher than last year on a constant currency basis, including approximately $150 million of acquired EBIT net of divestments which represents growth of approximately 203%. The remaining year over year variation mainly reflects lower volumes and higher costs in the North America Beverage business driven by operating challenges at high volume sites. Fiscal 2025Twelve Months Ended June 30, Reported ∆%Constant currency ∆%2024 $ million2025 $ million Net sales3,3084,1372526 Adjusted EBIT2593754547 Adjusted EBIT / Sales %7.89.1 Net sales of $4,137 million were 25% higher than last year on a reported basis, including an unfavorable impact of 1% related to movements in foreign exchange rates. On a constant currency basis, net sales were were 26% higher than last year, reflecting approximately $1.0 billion of acquired sales net of divestments which represents growth of approximately 31%. The remaining variation mainly reflects an unfavorable impact of approximately 1% related to the pass through of lower raw material costs, 2% lower volumes and an unfavorable price/mix impact of approximately 2%. Adjusted EBIT of $375 million was approximately 47% higher than last year on a constant currency basis, reflecting approximately $150 million of acquired EBIT net of divestments, which represents growth of approximately 57%. The remaining year over year variation mainly reflects lower volumes and higher costs in the North American beverage business in the second half of the year. Net interest and income tax expense For the year ended June 30, 2025, GAAP net interest expense of $347 million compares with $310 million last year. Adjusted net interest expense of $332 million was $22 million higher than last year as a result of increased acquisition related net debt. GAAP income tax expense for the year ended June 20, 2025 was $135 million compared with $163 million last year. Adjusted tax expense was $248 million compared with $225 million last year. Adjusted tax expense for the year ended June 30, 2025 represents an effective tax rate of 17.8%, in line with the prior year. Adjusted Free Cash Flow and Net Debt For the year ended June 30, 2025, adjusted free cash inflow of $926 million was in-line with the Company's guidance range and compares with $952 million last year. Net debt was $13,271 million at June 30, 2025, including acquisition related Berry Global debt of approximately $7.4 billion. Fiscal 2026 Guidance For the twelve month period ending June 30, 2026, the Company expects: Adjusted EPS of approximately 80 to 83 cents per share, which represents constant currency growth of 12% to 17% compared with 71.2 cents per share in fiscal 2025. This includes pre-tax synergy benefits related to the Berry Global acquisition of approximately $260 million. Free Cash Flow of approximately $1.8 billion to $1.9 billion, which is after deducting approximately $220 million of net cash integration and transaction costs related to the Berry Global acquisition. Other guidance considerations include: Capital expenditure between $850 to $900 million; Net interest expense of approximately $570 to $600 million; and An effective tax rate between 19% and 21%. Amcor's guidance for fiscal 2026 reflects a full 12 months ownership of the Berry Global business and does not take into account the impact of potential portfolio optimization actions which may be completed through the year. Amcor's guidance contemplates a range of factors which create a degree of uncertainty and complexity when estimating future financial results. Further information can be found under 'Cautionary Statements Regarding Forward-Looking Statements' in this release. Reconciliations of the fiscal 2026 projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for fiscal 2026 have not been completed. Conference Call Amcor is hosting a conference call with investors and analysts to discuss these results on Thursday August 14, 2025 at 8:00am US Eastern Daylight Time / 10:00pm Australian Eastern Standard Time. Investors are invited to listen to a live webcast of the conference call at our website, in the "Investors" section. Those wishing to access the call should use the following toll-free numbers, with the Conference ID : 4169471 USA: 800 715 9871 (toll free); 646 307 1963 (local) Australia: 1800 519 630 (toll free), 02 9133 7103 (local) United Kingdom: 0800 358 0970 (toll free), 020 3433 3846 (local) Singapore: 65 3159 5133 (local) Hong Kong: 852 3002 3410 (local) From all other countries, the call can be accessed by dialing +1 646 307 1963 (toll). A replay of the webcast will also be available in the 'Investors" section at following the call. About Amcor Amcor is the global leader in developing and producing responsible consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enables us to solve packaging challenges around the world every day, producing a range of flexible packaging, rigid packaging, cartons and closures that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future. Supported by a commitment to safety, over 75,000 people generate $23 billion in annualized sales from operations that span over 400 locations in more than 40 countries. NYSE: AMCR; ASX: AMC I LinkedIn I YouTube U.S. GAAP Condensed Consolidated Statements of Income (Unaudited) Three Months Ended June 30, Twelve Months Ended June 30, ($ million, except per share amounts)2024 202520242025 Net sales3,535 5,08213,64015,009 Cost of sales(2,781) (4,187)(10,928)(12,175) Gross profit754 8952,7122,834 Selling, general, and administrative expenses(288) (408)(1,093)(1,205) Amortization of acquired intangible assets(41) (130)(167)(246) Research and development expenses(26) (38)(106)(120) Restructuring, transaction and integration expenses, net(15) (236)(97)(307) Other income/(expense), net11 4(35)53 Operating income395 871,2141,009 Interest expense, net(78) (125)(310)(347) Other non-operating income/(loss), net1 (9)3(12) Income/loss before income taxes and equity in income/(loss) of affiliated companies318 (47)907650 Income tax expense(56) 6(163)(135) Equity in income/(loss) of affiliated companies, net of tax(1) 2(4)3 Net income/loss261 (39)740518 Net income attributable to non-controlling interests(4) —(10)(7) Net income/loss attributable to Amcor plc257 (39)730511 USD:EUR average FX rate0.9287 0.88250.92450.9203 Basic earnings per share attributable to Amcor0.178 (0.019)0.5050.321 Diluted earnings per share attributable to Amcor0.178 (0.019)0.5050.320 Weighted average number of shares outstanding – Basic1,439 2,0351,4391,589 Weighted average number of shares outstanding – Diluted1,443 2,0401,4411,593 U.S. GAAP Condensed Consolidated Statements of Cash Flows (Unaudited) Twelve Months Ended June 30, ($ million) 20242025 Net income 740518 Depreciation, amortization, and impairment 595722 Net gain on disposal of businesses and investments —(8) Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and currency (120)(53) Other non-cash items 106211 Net cash provided by operating activities 1,3211,390 Purchase of property, plant, and equipment and other intangible assets (492)(580) Proceeds from sales of property, plant, and equipment and other intangible assets 3918 Business acquisitions and Investments in affiliated companies, and other (23)(1,653) Proceeds from divestitures —113 Net debt proceeds/(repayments) (43)1,876 Dividends paid (722)(845) Share buy-back/cancellations (30)— Purchase of treasury shares, proceeds from exercise of options and tax withholdings for share- based incentive plans (51)(107) Other, including effects of exchange rate on cash and cash equivalents (100)27 Net increase/decrease in cash and cash equivalents (101)239 Cash and cash equivalents at the beginning of the year 689588 Cash and cash equivalents at the end of the year 588827 U.S. GAAP Condensed Consolidated Balance Sheets (Unaudited) ($ million)June 30, 2024June 30, 2025 Cash and cash equivalents588827 Trade receivables, net1,8463,426 Inventories, net2,0313,471 Property, plant and equipment, net3,7638,202 Goodwill and other intangible assets, net6,73618,679 Other assets1,5602,461 Total assets 16,52437,066 Trade payables2,5803,490 Short-term debt and current portion of long-term debt96257 Long-term debt, less current portion6,60313,841 Accruals and other liabilities3,2927,738 Shareholders' equity3,95311,740 Total liabilities and shareholders' equity16,52437,066 Components of Fiscal 2025 Net Sales growth Three Months Ended June 30Twelve Months Ended June 30 ($ million) Global Flexible Packaging Solutions Global Rigid Packaging Solutions TotalGlobal Flexible Packaging Solutions Global Rigid Packaging Solutions Total Net sales fiscal year 2025 3,205 1,877 5,08210,872 4,137 15,009 Net sales fiscal year 2024 2,686 849 3,53510,332 3,308 13,640 Reported Growth % 19 121 445 25 10 FX % 1 — 1(1) (1) (1) Constant Currency Growth % 18 121 436 26 11 Raw Material Pass Through % 1 — 11 (1) 1 Items affecting comparability % 16 129 434 31 10 Organic Growth 1 (8) (1)1 (4) — Volume % (1) (4) (2)2 (2) 1 Price/Mix % 2 (4) 1(1) (2) (1) Reconciliation of Non-GAAP Measures Reconciliation of adjusted Earnings before interest, tax, depreciation and amortization (EBITDA), Earnings before interest and tax (EBIT), Net income, Earnings per share (EPS) and Free Cash Flow Three Months Ended June 30, 2024Three Months Ended June 30, 2025 ($ million)EBITDAEBITNet IncomeEPS (Diluted US cents)(1)EBITDAEBITNet IncomeEPS (Diluted US cents)(1) Net income attributable to Amcor25725725717.8(39)(39)(39)(1.9) Net income attributable to non-controlling interests44—— Tax expense5656(6)(6) Interest expense, net7878125125 Depreciation and amortization136309 EBITDA, EBIT, Net income and EPS53139525717.838980(39)(1.9) Impact of highly inflationary accounting(2)(2)(2)(0.1)8880.4 Restructuring and other related activities, net(2)1515151.02929291.4 Berry Transaction & Integration————1661661768.6 Merger related compensation————4141412.0 Inventory step-up amortization(3)————1331331336.5 Other5550.32424241.2 Amortization of acquired intangibles(4)41412.91301306.4 Tax effect of above items(11)(0.8)(94)(4.6) Adjusted EBITDA, EBIT, Net income, and EPS 55045430521.178961140820.0Reconciliation of adjusted growth to constant currency growth % growth - Adjusted EBITDA, EBIT, Net income and EPS443534(5) % currency impact(1)——— % constant currency growth433434(5) % constant currency made up of: % items affecting comparability (5)514440...1 % from all other sources(8)(10)(7)(6) Adjusted EBITDA550789 Interest paid, net(99)(123) Income tax paid(90)(138) Purchase of property, plant and equipment and other intangible assets(134)(220) Proceeds from sales of property, plant and equipment and other intangible assets279 Movement in working capital610744 Other(27)(118) Adjusted Free Cash Flow837943 (1) Calculation of diluted EPS for the three months ended June 30, 2024 excludes net income attributable to shares to be repurchased under forward contracts of $1 million. For fiscal 2025, the sum of quarters do not equal the total year amount due to the impact of changes in average quarterly shares outstanding. (2) Fiscal 2025 primarily includes restructuring and other costs related to the integration of the acquired Berry business, and costs attributable to group wide initiatives to partly offset divested earnings from the Russian business. (3) Additional amortization incurred on inventories in connection with the Berry acquisition (4) Amortization of acquired intangible assets from business combinations. (5) Reflects the impact of acquired, disposed, and ceased operations. Twelve Months Ended June 30, 2024Twelve Months Ended June 30, 2025 ($ million)EBITDAEBITNet IncomeEPS (Diluted US cents)(1)EBITDAEBITNet IncomeEPS (Diluted US cents)(1) Net income attributable to Amcor73073073050.551151151132.0 Net income attributable to non-controlling interests101077 Tax expense163163135135 Interest expense, net310310347347 Depreciation and amortization569710 EBITDA, EBIT, Net income and EPS1,7821,21373050.51,7101,00051132.0 Impact of highly inflationary accounting5353533.71616161.0 Restructuring and other related activities, net(2)9797976.76464644.0 Berry Transaction & Integration————20220221713.6 Merger related compensation————4141412.6 CEO Transition costs8880.6———— Inventory step-up amortization(3)———1331331338.3 Other2222221.52121211.3 Amortization of acquired intangibles(4)16716711.624624615.4 Tax effect of above items(62)(4.4)(113)(7.0) Adjusted EBITDA, EBIT, Net income and EPS 1,9621,5601,01570.22,1861,7231,13671.2Reconciliation of adjusted growth to constant currency growth % growth - Adjusted EBITDA, EBIT, Net income, and EPS1111121 % currency impact1111 % constant currency growth1312133 % constant currency made up of: % items affecting comparability (5)1413121 % from all other sources(1)(1)22 Adjusted EBITDA1,9622,186 Interest paid, net(295)(290) Income tax paid(253)(286) Purchase of property, plant and equipment and other intangible assets(492)(580) Proceeds from sales of property, plant and equipment and other intangible assets3918 Movement in working capital(15)34 Other6(156) Adjusted Free Cash Flow952926 (1) Calculation of diluted EPS for the twelve months ended June 30, 2025 excludes net income attributable to shares to be repurchased under forward contracts of $1 million. Calculation of diluted EPS for the twelve months ended June 30, 2024 excludes net income attributable to shares to be repurchased under forward contracts of $3 million. For fiscal 2025, the sum of quarters do not equal the total year amount due to the impact of changes in average quarterly shares outstanding. (2) Fiscal 2025 primarily includes restructuring and other costs related to the integration of the acquired Berry business, and costs attributable to group wide initiatives to partly offset divested earnings from the Russian business. (3) Additional amortization incurred on inventories in connection with the Berry acquisition (4) Amortization of acquired intangible assets from business combinations. (5) Reflects the impact of acquired, disposed, and ceased operations. Reconciliation of adjusted EBIT by reporting segment Three Months Ended June 30, 2024Three Months Ended June 30, 2025 ($ million)Global Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsOtherTotalGlobal Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsOtherTotal Net income attributable to Amcor257(39) Net income attributable to non- controlling interests4— Tax expense56(6) Interest expense, net78125 EBIT35173(29)3953088(236)80 Impact of highly inflationary accounting—(2)—(2)53—8 Restructuring and other related activities, net(1)114—1529——29 Berry Transaction & Integration————1810138166 Merger related compensation——————4141 Inventory step-up amortization(2)————27106—133 Other——552111124 Amortization of acquired intangibles(3)41——4162662130 Adjusted EBIT40375(24)454450204(43)611 Adjusted EBIT / sales %15.0 %8.8 %12.8 %14.1 %10.9 %12.0 % Reconciliation of adjusted growth to constant currency growth % growth - Adjusted EBIT12173—35 % currency impact(1)——— % constant currency11173—34 % constant currency made up of: % items affecting comparability (4)12203—44 % from all other sources(1)(31)—(10) (1) Fiscal 2025 primarily includes restructuring and other costs related to the integration of the acquired Berry business, and costs attributable to group wide initiatives to partly offset divested earnings from the Russian business. (2) Additional amortization incurred on inventories in connection with the Berry acquisition. (3) Amortization of acquired intangible assets from business combinations. (4) Reflects the impact of acquired, disposed, and ceased operations. Twelve Months Ended June 30, 2024Twelve Months Ended June 30, 2025 ($ million)Global Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsOtherTotalGlobal Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsOtherTotal Net income attributable to Amcor730511 Net income attributable to non-controlling interests107 Tax expense163135 Interest expense, net310347 EBIT1,147185(119)1,2131,162180(342)1,000 Impact of highly inflationary accounting—53—53511—16 Restructuring and other related activities, net(1)7918—97631—64 Berry Transaction & Integration————1811173202 Merger related compensation——————4141 CEO transition costs——88———— Inventory step-up amortization(2)————27106—133 Other5—172212(4)1321 Amortization of acquired intangibles(3)1643—167172704246 Adjusted EBIT1,395259(94)1,5601,458375(110)1,723 Adjusted EBIT / sales %13.5 %7.8 %11.4 %13.4 %9.1 %11.5 % Reconciliation of adjusted growth to constant currency growth % growth - Adjusted EBIT545—11 % currency impact13—1 % constant currency growth547—12 % constant currency made up of: % items affecting comparability (4)35713 % from all other sources2(10)(1) (1) Fiscal 2025 primarily includes restructuring and other costs related to the integration of the acquired Berry business, and costs attributable to group wide initiatives to partly offset divested earnings from the Russian business. (2) Additional amortization incurred on inventories in connection with the Berry acquisition. (3) Amortization of acquired intangible assets from business combinations. (4) Reflects the impact of acquired, disposed, and ceased operations. Reconciliation of net debt ($ million)June 30, 2024June 30, 2025 Cash and cash equivalents(588)(827) Short-term debt84116 Current portion of long-term debt12141 Long-term debt excluding current portion6,60313,841 Net debt6,11113,271 Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business, including the ability to successfully realize the expected benefits of the merger of Amcor and Berry Global Group, Inc. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: risks arising from the integration of the Amcor and Berry Global Group, Inc., ("Berry Global") businesses as a result of the Merger completed on April 30, 2025 (the "Transaction"); risk of continued substantial and unexpected costs or expenses resulting from the Transaction; risk that the anticipated benefits of the Transaction may not be realized when expected or at all; risk that the Company's significant indebtedness may limit its flexibility and increase its borrowing costs; risk that the Merger related tax liabilities could have a material impact on the Company's financial results; changes in consumer demand patterns and customer requirements in numerous industries; risk of loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect our business; production, supply, and other commercial risks, including counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks; an inability to attract, develop, and retain our skilled workforce and manage key transitions; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; physical impacts of climate change; significant disruption at key manufacturing facilities; cybersecurity risks, which could disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which could disrupt our operations, compromise customer, employee, supplier, and other data; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intellectual property infringement claims against us; litigation, including product liability claims or litigation related to Environmental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments with respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; changing ESG government regulations including climate-related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic mix of earnings; and changes in trade policy, including tariff and custom regulations or failing to comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor's filings with the SEC for free at the SEC's website ( Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement. Presentation of non-GAAP information Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow, net debt and synergies from the Merger. In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include: material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, financing-related expenses; and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company's Chief Executive Officer transition; and impacts related to the Russia-Ukraine conflict. Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs. Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company's reporting segments and certain of the measures are used as a component of Amcor's Board of Directors' measurement of Amcor's performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort. These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections in connection with the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period. Presentation of combined volume performance In order to provide the most meaningful comparison of results of volume performance by region and end market for the Amcor group and for each of its reportable segments, the Company has included commentary to reflect Amcor's estimate of year-over-year volume performance for the three months ended June 30, 2025 for the legacy Amcor business, combined with year-over-year volume performance for the period May 1, 2025 to June 30, 2025 for the legacy Berry Global business. The combined volume performance information has been presented for informational purposes and Amcor believes this information reflects the impact of the combination, taking into account the allocation of volumes across both legacy businesses was managed on a combined network basis from May 1, 2025. The combined volume performance Information should be read in conjunction with the separate historical financial statements and accompanying notes contained in each of the Amcor and Berry Global periodic reports, as available. For avoidance of doubt, the combined volume performance information is not intended to be, and was not, prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X. Dividends Amcor has received a waiver from the ASX's settlement operating rules, which will allow the Company to defer processing conversions between its ordinary share and CDI registers from September 4, 2025 to September 5, 2025 inclusive. View original content: SOURCE Amcor Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNET
16 minutes ago
- CNET
Apple, I'm Begging You, Don't Let AI Ruin the iPhone 17's Camera
AI has become an expected part of every new phone launching in 2025 and not just in the form of Gemini Live or Circle to Search. The cameras on many phones have AI baked deep into the heart of the experience too. I was taken aback by the Honor 400 Pro's image-to-video AI tool when it brought my dad back to life, while the Pixel 9 Pro focused more on generative AI to add new elements to your Images or even create new scenes out of nowhere. But the iPhones have always focused first and foremost on delivering some of the best image quality you can get in a camera phone, and as a professional photographer I want to see that same dedication to taking better photos when the iPhone 17 launches in September. It's not that I don't like AI. I do, when it's applied properly. I like ChatGPT's and Google Gemini's ability to answer questions in a conversational way, I like Adobe's use of AI for object removal in Photoshop and as a horror movie fan I'm genuinely excited about the terrifying visions I've seen created using AI. But AI can also be a crutch for mobile companies to lean on in order to make up for shortfalls elsewhere. I liked the Pixel 9 Pro, but its camera hardware hadn't been changed since the last model. The new generative AI tools became the new imaging-focused features for the upgrade. The Xiaomi 14 Ultra's camera blew me away with its variable aperture that created stunning starbursts in night time images. And yet the more recent 15 Ultra ditched that in favor of software alternatives that simply don't offer the same results. The Xiaomi 14 Ultra had an amazing variable aperture built into its camera, but on the more recent Xiaomi 15 Ultra that was replaced with a "software solution" that simply didn't do the same thing. Andrew Lanxon/CNET Apple's iPhones have always impressed with their image quality. Back in 2019 I took the iPhone 11 Pro on a photography road trip instead of my usual Canon DSLR, and I frequently use my iPhone 16 Pro as my professional camera when carrying a bigger setup isn't feasible. Apple's image quality is top notch, with the phones typically producing natural image tones and less heavy-handed image processing than many of its rivals, resulting in authentic looking images. Its ProRaw image format and ProRes and Log video codecs are aimed at getting the best quality from the cameras. Apple has invested in core image quality technologies, not simply used AI to make up for any hardware shortcomings. It's why Apple has won the hearts of creatives the world over and why the iPhone is often seen as one of, if not the best camera phones for professional or enthusiastic photo and video shooters. And I'm not saying the iPhone occupies some AI-free utopia. Apple has been a pioneer in applying machine learning to overcome limitations of tiny smartphone cameras, such as its Deep Fusion imaging technology that captures multiple exposures and blends them into a final, evenly-exposed image. And I suppose to a lesser extent its Portrait Lighting tool from 2017's iPhone 8 that used depth maps and algorithms to create artificial lighting effects. But these are arguably tools to enhance an existing image, and I'm worried that the next iPhone's camera will be all about how you can generate entirely new scenes without even having to step outside your house. The huge rise in popularity of compact cameras shows that people still care about taking real photos. Geoffrey Morrison/CNET The rise in popularity of dedicated compact cameras such as the Fujifilm X100 VI and the continued resurgence in the popularity of film photography has shown that the creative world still demands authentic photography. Real cameras taking real moments with your real friends. Actual sunset colors casting across golden sandy beaches, not an AI's generic interpretation of what a beach looks like. AI has its place and I'm braced for Apple's September event to be extremely AI-focused. As AI seeps deeper into our phone experience and Apple pushes on with its AI strategy, I'm concerned that the company could make rash decisions with its imaging experience in order to try and justify the existence of Apple Intelligence. But this shouldn't come at the expense of core image quality, so I also want to hear about how I can take the iPhone 17 deep into the heart of my home country of Scotland and take the most beautiful photos of the incredible landscape in front of me.
