Benzinga | Aug 18, 2021 07:15AM EDT

Amcor FY21 Revenue Grows 3.2%, Declares Dividend

* Amcor PLC (NYSE:AMCR) reported FY21 sales growth of 3.2% year-on-year, to $12.86 billion.

* Flexibles revenue increased 3% Y/Y, and Rigid Packaging rose 4%.

* Gross profit rose 7.7% Y/Y to $2.7 billion with a profit margin of 21.2%.

* The operating margin was 10.3%, and operating income for the quarter rose 32.9% to $1.3 billion.

* Adjusted Free Cash Flow for FY21 was $1.1 billion. The net debt totaled $5.4 billion as of June 30, 2021.

* Adjusted EBITDA of $2 billion increased 6% Y/Y.

* Adjusted EPS of $0.74 rose 15.6% Y/Y.

* Amcor Board declared a quarterly cash dividend of $0.1175 per share.

* Outlook: Amcor sees FY22 adjusted EPS growth of 7% - 11% Y/Y on a comparable constant currency basis.

* Amcor expects to allocate $400 million of cash towards share repurchases in FY22.

* Price Action: AMCR shares closed lower by 1.06% at $12.10 on Tuesday.