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 has introduced the world's first recyclable flexible retort pouch, a major innovation following years of research. This product utilizes AmLite HeatFlex technology, suitable for high-barrier applications requiring long shelf life. The pouch has been tested and confirmed recyclable, fitting collection systems in Germany, Austria, Italy, Norway, and the Netherlands. This development supports Amcor's sustainability pledge to make all packaging recyclable or reusable by 2025, potentially reducing carbon footprints by up to 60% compared to standard packaging.
Amcor plc (NYSE: AMCR) has finalized an agreement to sell its 47.6% stake in AMVIG Holdings Limited for US$124 million. The sale is anticipated to close shortly and will impact Amcor's financials positively with a US$12 million contribution to Adjusted EBIT and US$10 million in operational cash flow from AMVIG's dividends for the fiscal year ending June 30, 2020. This strategic divestment positions Amcor for improved focus on its core packaging business and the potential for reinvestment in growth opportunities.
Amcor has joined the HolyGrail 2.0 initiative, aiming to enhance recycling through digital watermarking technologies. This collaborative project, led by AIM, includes over 85 organizations and focuses on improving the accuracy of sorting and recycling quality. Amcor, committed to making all packaging recyclable by 2025, invests over $100M annually in R&D to innovate sustainable packaging solutions. The company emphasizes that partnerships like HolyGrail 2.0 are crucial for achieving a circular economy and protecting the environment.
Amcor reported a strong fiscal 2020, with net income of $612 million and EPS of 38.2 cents. Adjusted EBIT rose to $1,497 million, a 7% increase in constant currency, with adjusted EPS at 64.2 cents, up 13%. Synergy benefits from the Bemis acquisition exceeded expectations, yielding $80 million. The company generated $1.2 billion in adjusted free cash flow, reflecting a 26% increase. For fiscal 2021, Amcor anticipates EPS growth of 5-10% and free cash flow of $1.0-$1.1 billion.
Amcor plc (NYSE: AMCR) will announce its full year results for the period ending June 30, 2020, before the US market opens on August 18, 2020, at 3:00 am EDT. A conference call and webcast will follow at 7:30 am EDT on the same day. Interested participants can dial in using the provided numbers based on their location. The webcast and supporting materials will be accessible on Amcor's investor website, with a replay available post-call. Furthermore, an Annual Report on Form 10-K will be filed by August 31, 2020.