Amcor PLC (NYSE:AMCR) saw its shares rise to $8.16 in pre-market trading on Friday, up 4.35% from the regular session close of $7.82.
Check out the current price of AMCR stock here.
According to Benzinga Pro data, shares of the Swiss packaging company closed the regular session at $7.82, down 1.88%. The company also announced changes to its executive leadership and reaffirmed its financial outlook for fiscal year 2026.
Scherger Named CFO
Amcor has appointed Stephen R. Scherger, who previously served as chief financial officer of Graphic Packaging Holding Co. (NYSE:GPK), as its new executive vice president and chief financial officer, effective November 10. Scherger served at the Georgia-based consumer packaging company from 2015 to 2025, during which time it doubled its net sales to nearly $9 billion and nearly tripled its net income.
He also worked at MeadWestvaco for 25 years, holding various roles in finance, operations, and strategy. Scherger eventually became president of their Beverage and Consumer Electronics division, which had $1.3 billion in sales.
He is currently on the board of Middleby Corp. (NASDAQ:MIDD), where he's a member of the audit committee and chair the compensation committee.
Compensation Details
Scherger will earn a $1 million annual base salary and receive a $500,000 sign-on bonus payable in February 2026. He's also been granted $2.3 million in retention equity, with half vesting one year after his appointment and the other half vesting after two years.
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Casamento Departure
Scherger replaces Michael Casamento, who served as Amcor's CFO for 10 years. According to a Form 8-K filed Thursday, Casamento is returning to Australia to be closer to his family but will remain an advisor until June 30, 2026. Casamento will receive 12 months' base salary following his departure, a pro-rated fiscal 2026 Management Incentive Plan bonus if earned, vesting of equity awards with dates before his termination, and relocation assistance to Melbourne.
CEO Peter Konieczny commented on Scherger's appointment, saying, “His deep industry experience, unique understanding of the U.S. and global packaging markets and team-oriented leadership style make him a natural fit for Amcor. His proven track record of enhancing growth and profitability at lean, global businesses will further enhance Amcor’s ability to deliver near- and long-term value.”
Fiscal 2026 Guidance Unchanged
Amcor also reaffirmed the outlook it provided on August 14 for the first quarter and fiscal year 2026. The company expects adjusted earnings per share (EPS) to be between 80 and 83 cents, which would represent 12-17% growth on a constant currency basis.
Free cash flow for fiscal 2026 is projected to be between $1.8 billion and $1.9 billion. The company expects first-quarter adjusted EPS to fall within the 18 to 20 cents range.
Stock Metrics
Over the past year, the AMCR has declined by 29.55%, including a 13.30% loss over the last six months. Its price has ranged between $7.81 and $11.46. The company has a market capitalization of $18.05 billion, with an average daily trading volume of 21.17 million shares.
The price-to-earnings (P/E) ratio stands at 24.43, and the stock offers a dividend yield of 6.52%.
Benzinga Edge Stock Rankings indicate that AMCR has a negative price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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