Amcor Beats Consumer ETF Over Three Months, but Shares Stay Below Highs

Amcor shares rose 2.6% over the three months to September 22, while the State Street Consumer Discretionary Select Sector SPDR Fund (XLY) fell 4.2%. The comparison puts AMCR ahead for that period, though it does not mean the stock has avoided recent pressure.

The Barchart report also showed a split across longer periods: Amcor gained 1.1% year to date and 2.1% over 12 months. XLY was down 6% and 7%, respectively, over those spans.

Still, AMCR traded 17.3% below its February 24 high of $50.94. By mid-September, the shares had fallen below their 50-day and 200-day averages, measures of recent and longer-term price trends.

Amcor’s latest results offer a business backdrop, not a clear explanation for the share-price gap. For the year ended June 30, revenue rose 57% to $23.5 billion, while adjusted earnings per share increased 13% to $4.02. The company said the Berry Global acquisition was a major driver of sales growth.

The deal, completed in April 2025, expanded Amcor’s packaging operations. Investors will need to distinguish sales added through the acquisition from growth in existing operations as they assess the combined company’s performance.

Amcor also reported $1.30 billion in full-year free cash flow, up 41% from the prior year. For the six months ending December 31, the company expects adjusted earnings per share of $1.80 to $1.90.

The share gains were not uniform across packaging peers. Packaging Corporation of America (PKG) rose 15.6% year to date and 12.8% over 12 months, outpacing Amcor on both measures.

For AMCR, the next test is whether results in the transition period support its earnings outlook as Berry integration continues. The recent outperformance against XLY is real, but the drop from Amcor’s high and its weaker chart trend show why the shorter comparison does not tell the whole story.