Welcome to our dedicated page for Amcor news (Ticker: AMCR), a resource for investors and traders seeking the latest updates and insights on Amcor stock.
Amcor plc develops and produces consumer packaging and dispensing solutions for nutrition, health, beauty and wellness markets. Company news commonly covers quarterly results and guidance, integration and synergy updates following the Berry acquisition, portfolio optimization actions, and investments in manufacturing and testing capabilities.
Updates also describe Amcor's flexible packaging, rigid packaging, cartons and closures businesses, including healthcare packaging capacity, certification of laboratory testing capabilities in China, and regional production expansions serving customers across global packaging markets.
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Amcor plc (NYSE: AMCR) will announce its year-to-date results for the nine months ended March 31, 2023, after the US market closes on May 2, 2023. A conference call and webcast to discuss these results will occur at 5:30 PM EDT on the same day, which is 7:30 AM AEST on May 3, 2023, in Australia. Interested participants can join the call using provided toll-free and local numbers from various countries. The conference ID is 8080870. Access to the webcast and additional materials will be available through the Investors section of Amcor's website. The company emphasizes its commitment to responsible packaging solutions across various sectors, boasting 44,000 employees and annual sales of US$15 billion in fiscal 2022.
On March 22, 2023, Amcor (NYSE: AMCR) announced a joint research project with Nfinite Nanotechnology Inc. to enhance recyclable and compostable packaging using Nfinite's advanced nanocoating technology. The initial phase aims to create an oxygen barrier to improve packaging performance, followed by further developments to optimize manufacturing processes. This collaboration builds on a partnership formed in 2022, with Nfinite previously receiving $250,000 in funding through Amcor's Lift-Off program. Amcor's commitment to sustainability and innovation is underscored by this agreement, as it seeks to advance circularity in packaging solutions.
Amcor (NYSE: AMCR) announced that CEO Ron Delia will participate in a fireside chat with George Staphos from Bank of America Securities at the 2023 Global Agriculture and Materials Conference. This event is scheduled for March 1, 2023, at 10:50 am ET in Fort Lauderdale. In addition to the chat, Amcor will engage in one-on-one meetings with institutional analysts and investors throughout the day. The company, a leader in responsible packaging solutions, reported $15 billion in annual sales from operations in 43 countries, with a focus on sustainable packaging practices.
Amcor reported strong financial performance for the December 2022 quarter with GAAP EPS of 30.9 cents and an Adjusted EPS of 18.5 cents, marking a 7% rise in constant currency. For the first half of fiscal 2023, net sales reached $7.354 billion, up 6%, while GAAP net income soared 62% to $691 million. The company announced a quarterly dividend of 12.25 cents and plans to repurchase up to $500 million of shares in fiscal 2023. Despite a cautious outlook, management highlighted resilience in consumer staples and healthcare, coupled with strategic acquisitions in China and the sale of its Russian operations.
Amcor (NYSE: AMCR) has announced a $250,000 investment in circolution, a smart reusable food packaging start-up, as part of its Lift-Off initiative aimed at advancing sustainable packaging technologies. Founded in 2019, circolution offers a pay-per-cycle service that reduces the carbon footprint of packaging through a complete circular model, including smart packaging, reverse logistics, and data analytics.
Amcor's involvement will enhance circolution's operations, particularly in providing lid-sealing solutions for its products. This investment aligns with Amcor’s goal to make all products recyclable, reusable, or compostable by 2025.
Amcor plc (NYSE: AMCR) will announce its Half Year 2023 results on February 7, 2023, after US market close. The results cover the six-month period ending December 31, 2022. A conference call and webcast will be held at 5:30 PM EST on the same day to discuss these results, accessible via several international dial-in numbers. Participants can find the webcast and supporting materials on the Investors section of Amcor's website. This announcement highlights Amcor's commitment to transparency and stakeholder engagement in the financial reporting process.
Amcor (NYSE: AMCR) announced its acquisition of Shanghai-based MDK, a leader in medical device packaging with annual sales of approximately $50 million. This acquisition aims to enhance Amcor’s presence in the growing medical device packaging segment, particularly in the Asia Pacific region, where it now operates four manufacturing sites across China, India, Japan, and Southeast Asia. The acquisition is projected to close in the March 2023 quarter, subject to regulatory approvals. The move is expected to unlock value creation opportunities and strengthen Amcor's healthcare platform, enhancing returns for shareholders.
Amcor has completed the sale of its three factories in Russia to HS Investments for €370 million, after obtaining necessary regulatory approvals. This move follows Amcor's strategy to divest its Russian operations while maintaining support for its employees and customers. The factories, located in St. Petersburg and Novgorod, accounted for approximately 2% of Amcor's total sales in fiscal 2022. The proceeds from this sale will primarily be directed towards debt repayment and share repurchases, with no material impact expected on Amcor's fiscal 2023 outlook.