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NEWS RELEASE Amcor reports year to date results and raises outlook for fiscal 2021 Highlights - Nine Months Ended March 31 , 2021 GAAP Net Income of $ 684 million , up 58 % ; GAAP earnings per share ( EPS ) of 43.8 cents per share , up 63 % ; Adjusted EPS of 51.5 cents per share , up 16 % on a comparable constant currency basis ; Adjusted EBIT of $ 1,144 million , up 9 % on a comparable constant currency basis ; $ 55 million Bemis cost synergies year to date ; expect approximately $ 70 million in FY21 and well positioned to deliver at least $ 180 million by end of fiscal 2022 ; Quarterly dividend higher than this quarter last year at 11.75 cents per share ; Approximately 2 % of outstanding shares repurchased year to date ; and Fiscal 2021 outlook for adjusted EPS growth raised to 14-15 % in constant currency terms ( previously 10-14 % ) . Strong result and continued momentum drive increased guidance for Fiscal 2021 Amcor's CEO Ron Delia said : " Amcor is maintaining momentum and executing well in the face of a dynamic operating environment . As a result , we delivered strong year - to - date performance and we are raising our full year adjusted EPS growth outlook to 14-15 % in constant currency terms . " " The business delivered strong adjusted EBIT growth of 9 % on a year to date basis and organic growth has continued to strengthen as we progress through the fiscal 2021 year . Delivery of cost synergies related to the Bemis acquisition continues to progress ahead of original expectations leaving us well positioned to exceed the original target with at least $ 180 million of pre - tax benefits by the end of fiscal 2022. " " Amcor has a clearly defined , consistent capital allocation framework which starts with strong annual Free Cash Flow in excess of $ 1 billion and growing . We are actively investing in the future , expanding capacity in higher value segments and higher growth markets and increasingly using open innovation and now corporate venturing to identify new avenues of growth . Growth investments like these , along with continued strong execution , will enable continued momentum and reinforce our belief that the Amcor investment case has never been stronger . " Key Financials ( 1 ) GAAP results Net sales Net income EPS ( diluted US cents ) Adjusted non - GAAP results Net sales ( 2 ) EBITDA EBIT Net income EPS ( diluted US cents ) Free Cash Flow 1 Nine Months Ended March 31 , 2020 $ million 2021 $ million 9,325 1,378 1,059 719 44.7 367 9,407 1,455 1,144 805 51.5 360 amcor Nine Months Ended March 31 , 2020 $ million 2021 $ million 9,325 433 26.9 Reported A % 1 -6825 12 15 ( 2 ) 9,407 684 43.8 Comparable constant currency A % ( 1 ) Adjusted non - GAAP results exclude items which management considers as not representative of ongoing operations . Comparable constant currency A % excludes the impact of movements in foreign exchange rates and disposed businesses . Further details related to non - GAAP measures and reconciliations to GAAP measures can be found under " Presentation of non - GAAP information " and in the tables included in this release . ( 2 ) Comparable constant currency A % for net sales excludes a 1 % unfavorable impact from the pass through of raw material costs , a 1 % unfavorable impact from disposed businesses and a 1 % favorable currency impact . Note : All amounts referenced throughout this document are in US dollars unless otherwise indicated and numbers may not add up precisely to the totals provided due to rounding . 2 6 936 13 16