Amcor plcAMCR

Amcor plc Earnings Per Share Disclosure

10-KFiled Aug 15, 20252 min read
Earnings Per Share Computations
    The Company applies the two-class method when computing its earnings per share ("EPS"), which requires that net income per share for each class of share be calculated assuming all of the Company's net income is distributed as dividends to each class of share-based on their contractual rights.

    Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding after excluding the ordinary shares to be repurchased using forward contracts and vested but unpaid ordinary shares. Diluted EPS includes the effects of share options, restricted share units, performance rights, performance shares, and share rights, if dilutive.
 Years ended June 30,
($ in millions, except per share amounts)202520242023
Numerator  
Net income attributable to Amcor plc$511 $730 $1,048 
Distributed and undistributed earnings attributable to shares to be repurchased(1)(3)(7)
Net income available to ordinary shareholders of Amcor plc—basic and diluted$510 $727 $1,041 
Denominator
Weighted-average ordinary shares outstanding1,592 1,445 1,478 
Weighted-average ordinary shares to be repurchased by Amcor plc(3)(6)(10)
Weighted-average ordinary shares outstanding for EPS—basic1,589 1,439 1,468 
Effect of dilutive shares4 2 8 
Weighted-average ordinary shares outstanding for EPS—diluted1,593 1,441 1,476 
Per ordinary share income
Basic earnings per ordinary share$0.321 $0.505 $0.709 
Diluted earnings per ordinary share$0.320 $0.505 $0.705 
    Certain stock awards outstanding were not included in the computation of diluted earnings per share above because they would not have had a dilutive effect. The excluded stock awards represented an aggregate of 19 million, 29 million, and 16 million shares for the years ended June 30, 2025, 2024, and 2023, respectively. Basic and diluted weighted-average ordinary shares outstanding have increased in fiscal year 2025 due to the completion of the Merger with Berry and the related share issuances. For further information, refer to Note 4, "Acquisitions and Divestitures". In fiscal years 2024 and 2023, basic and diluted weighted-average ordinary shares outstanding decreased due to share repurchases.
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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