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.
Amcor (NYSE: AMCR) has signed a Memorandum of Understanding with Licella Holdings to invest in one of Australia's first advanced plastic recycling facilities, aimed at creating a local circular economy for soft plastics. This facility, located in Melbourne, plans to process 20,000 tonnes of waste plastic annually using Licella's Cat-HTR technology. The project has received approval from the Victorian Environmental Protection Agency. This partnership supports Amcor's goal of achieving 30% recycled content in its products by 2030.
Amcor (NYSE: AMCR) has inaugurated its new 590,000-square-foot flexible packaging plant in Huizhou, China, following a nearly $100 million investment. This facility is the largest of its kind in China by production capacity and is expected to create over 550 jobs. It features advanced automation and smart technology, including the first automated packaging production line in the country. The plant will enhance Amcor's ability to meet rising demand across Asia Pacific and incorporates sustainable practices to reduce its carbon footprint.
Amcor has secured a five-year agreement with ExxonMobil to purchase certified-circular polyethylene material, aiming to reach 100,000 metric tons annually by the end of the deal. This partnership supports Amcor's goal of incorporating 30% recycled material in its products by 2030. The material will be sourced from ExxonMobil's advanced recycling facility in Baytown, Texas, designed to recycle 30,000 metric tons of plastic waste yearly. Amcor continues its commitment to sustainability, with 74% of its products already designed to be recyclable.
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Amcor (NYSE: AMCR) announced a US$3 million investment in PulPac, a Swedish company revolutionizing fiber-based packaging technology. This collaboration is part of a cross-industry alliance aimed at accelerating PulPac's global commercialization of its eco-friendly packaging solutions, which reduce CO2 emissions by 80%. As Amcor continues to enhance its AmFiber platform for sustainable packaging, this investment emphasizes its commitment to environmentally responsible products. The partnership is expected to optimize product shapes for various applications, aligning with global sustainability goals.
Wolverine World Wide announces Nicholas T. Long as the new Lead Independent Director, effective November 4, 2022. Long, who has been on the board since 2011, succeeds Dr. David T. Kollat. He brings over 30 years of experience from major brands, including MillerCoors and Coca-Cola. Long's leadership will focus on strategic objectives in brand-building and marketing. The company expresses gratitude to Kollat for his long service since 2007 during critical transitions.
Amcor reported a net sales increase of 9% to $3.712 billion for the three months ended September 30, 2022. GAAP net income rose 15% to $232 million, with EPS increasing to 15.5 cents. Adjusted EPS grew 10%, reaching 18.1 cents. The quarterly dividend was raised to 12.25 cents per share. The company reaffirmed its FY2023 adjusted EPS growth guidance of 3-8% on a constant currency basis, while adjusting reported EPS guidance to 77-81 cents to account for dollar strength. Free cash flow is projected at $1.0-$1.1 billion, with $400 million earmarked for share repurchases.
Amcor plc (NYSE: AMCR) will announce its first quarter results for the period ending September 30, 2022, after the US market closes on November 1, 2022. A conference call and webcast to discuss the results is scheduled for 5:30 PM EDT on the same day. Participants can join using the provided dial-in numbers for various regions. Access to the webcast and supporting documents will be available on Amcor's investor website. The company specializes in responsible packaging solutions across multiple industries.
Amcor (NYSE: AMCR) has released its inaugural Task Force on Climate-Related Financial Disclosure (TCFD) report, detailing its climate scenario analysis, governance structure, and risk management strategy. This report underscores Amcor's commitment to sustainability and transparency regarding climate risks. CFO Michael Casamento emphasized how the TCFD standards enhance the company's existing sustainability reporting, aligning with Global Reporting Initiative (GRI) and SASB standards. The company plans to publish its 2022 Sustainability Report in mid-November, offering further insights into its sustainability efforts.
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