Keith Chau's questions to Amcor PLC (AMCR) leadership • Q2 2025
Question
Keith Chau followed up on the full-year guidance, noting that the first-half performance seems to imply a 42-58 H1/H2 earnings split to reach the midpoint, a greater second-half weighting than the previously guided 45-55, and asked for management's thinking on this.
Answer
CFO Michael Casamento explained that the phasing is based on a historical average range, which can vary. He expressed confidence in the second half, driven by continued low to mid-single-digit volume growth and an improved sales mix as the healthcare business returns to growth. He emphasized that Q4 is the strongest quarter, typically over 30% of full-year EPS, where modest volume improvements provide strong leverage, supporting the reaffirmed guidance range.