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 reported a strong performance for the nine months ended March 31, 2021, achieving a GAAP net income of $684 million, marking a 58% increase and an EPS of 43.8 cents. Adjusted EPS rose to 51.5 cents, up 16% on a constant currency basis, with Adjusted EBIT reaching $1,144 million (9% growth). The company realized $55 million in cost synergies from the Bemis acquisition to date, aiming for $70 million by FY21 and over $180 million by FY22. A quarterly dividend of 11.75 cents per share was declared, up from last year, and the adjusted EPS growth outlook for FY21 was raised to 14-15%.
Amcor has announced customer trials for AmSky™, the world’s first recyclable Polyethylene-based thermoform blister packaging, aimed at the pharmaceutical sector. This innovation significantly reduces the carbon footprint by up to 70% compared to existing alternatives and eliminates PVC, simplifying recycling. Anticipated to launch in healthcare by the second half of 2022, AmSky™ underscores Amcor's commitment to sustainability and innovation in packaging. The company generates nearly $2 billion in annual sales within the healthcare market.
Amcor Flexibles Asia Pacific has chosen GEP SMART, a leading procurement software platform, to enhance its procurement processes following a competitive selection. This decision aims to leverage GEP SMART's Spend Analysis Software to identify cost-saving opportunities across Asia Pacific, ultimately driving greater organizational value. GEP SMART is a cloud-native, AI-driven platform designed to improve efficiency and reduce costs in procurement and purchasing functions. Amcor is a global leader in responsible packaging, generating US$12.5 billion in sales, with operations in over 40 countries.
Amcor plc (NYSE: AMCR) will announce its year-to-date results for the nine months ended March 31, 2021, on May 4, 2021, after US market close. A conference call and webcast will follow at 5:30 PM EDT. Investors can join using toll-free numbers based on their location, including 866 211 4133 for US and Canada and 1800 287 011 for Australia. Access to the webcast and supporting materials will be available at Amcor's investor website, with a replay provided after the call.
Amcor (NYSE: AMCR) has announced a strategic investment of $10 to $15 million in ePac Flexible Packaging, a leader in short-run digital printing for flexible packaging. This investment includes a minority stake in ePac Holdings LLC and funding for additional sites. ePac, operational at 18 locations and expanding to 5 more, generates approximately $100 million in annual revenues, primarily serving small to medium-sized consumer goods companies. This venture marks Amcor's first corporate investment aimed at leveraging innovative technologies and models in the flexible packaging sector.
Amcor has collaborated with several companies to launch Australia's first soft plastic food wrapper made from recycled content. This joint effort aims to tackle the challenges of plastic waste by promoting a circular economy. The prototype is a KitKat wrapper, showcasing advanced recycling technology to convert soft plastic waste back into oil. The initiative aligns with Amcor's commitment to make all packaging recyclable or reusable by 2025, reflecting a strong consumer demand for sustainable packaging solutions.
Amcor has joined the Alliance to End Plastic Waste at the Executive Committee level, reinforcing its commitment to sustainability. This partnership aligns with Amcor's 2025 Sustainability Pledge to ensure all its packaging is recyclable or reusable by 2025. CEO Ron Delia emphasizes the necessity of collaboration for effective waste management and recycling. The Alliance comprises 57 member companies committed to tackling plastic waste through innovative projects. Amcor's initiatives include partnerships in Latin America and ongoing efforts in Indonesia, aiming to enhance recycling and waste treatment.
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Amcor reported a strong performance for the first half of FY21, achieving a GAAP Net Income of $417 million, a 65% increase year-over-year, with an EPS of 26.5 cents, up 71%. Adjusted EPS reached 33.3 cents, reflecting a 16% rise in constant currency. The company delivered $35 million in Bemis cost synergies and expects this to reach approximately $70 million for FY21. Amcor announced a quarterly dividend increase to 11.75 cents per share and plans to repurchase $350 million in shares. Adjusted EPS guidance for FY21 was raised to 10-14% growth.
Amcor is intensifying its sustainability efforts, aiming for all packaging to be recyclable or reusable by 2025. The company invests $100 million annually in R&D, showcasing innovations such as the AmLite HeatFlex recyclable pouch. With $7.7 billion in revenue from recyclable packaging, Amcor is leading the way with new solutions like AmPrima™ and Eco-Tite R. Collaborations with groups like CEFLEX and MRFF are enhancing recycling infrastructure globally. Amcor also focuses on consumer education to boost recycling rates and plans to use 10% PCR content across its portfolio by 2025.