Amcor plc Ordinary Shares - AMCR STOCK NEWS

Amcor reported strong Q1 results for the three months ending September 30, 2021. The company achieved a GAAP net income of $202 million, up 2%, and a GAAP EPS of 13.1 cents, up 4%. Adjusted EPS rose 12% to 17.7 cents on a constant currency basis. Net sales reached $3.42 billion, a 10% increase over the previous year, driven by higher raw material costs. The company is confident in its fiscal 2022 outlook, anticipating adjusted EPS growth of 7-11% and free cash flow of $1.1-$1.2 billion. Additionally, Amcor is increasing shareholder returns through $64 million in share repurchases and a raised quarterly dividend to 12 cents.

Amcor plc (NYSE: AMCR) will announce its Q1 2022 results on November 2, 2021, after the US market closes. A conference call to discuss the results is scheduled for 5:30 PM EDT the same day. Investors can join via toll-free numbers available for various countries, including the US and Canada at 866 211 4133. Access to the webcast and supporting materials will be available on the Investors section of Amcor's website, with a replay available post-call.

Amcor plc (NYSE: AMCR) has nominated Achal Agarwal as a non-executive director for election at the upcoming Annual Meeting on November 10, 2021. With over 40 years of experience in the consumer goods sector, including leadership roles at Kimberly-Clark Corporation and PepsiCo, Mr. Agarwal brings valuable insights to the Board. Concurrently, Philip Weaver will retire, having contributed significantly to the Board's finance and accounting expertise. The leadership transition aims to enhance the Board's effectiveness and strategic direction.

Amcor reported a strong fiscal year 2021, with GAAP net income rising 53% to $939 million and GAAP EPS increasing 58% to 60.2 cents. Adjusted EPS grew 16% to 74.4 cents, exceeding guidance. The company generated $1.1 billion in adjusted free cash flow and completed its Bemis integration, achieving approximately $75 million in cost synergies against a goal of $180 million. A quarterly dividend of 11.75 cents was declared, raising the annual total to 47 cents. For fiscal 2022, Amcor anticipates 7-11% adjusted EPS growth and $1.1-$1.2 billion in free cash flow.

Amcor (NYSE: AMCR) announced plans to invest $35 million in two new innovation centers in Ghent, Belgium, and Jiangyin, China. Set to open mid-2022, these facilities aim to enhance Amcor's global innovation network, allowing clients to utilize advanced material science and packaging development. Features will include immersive customer experience spaces, analytical labs, and pilot manufacturing equipment. The company maintains a commitment to sustainable packaging and invests over $100 million annually in research and development.

Amcor has launched a new proprietary healthcare lidding technology designed for combination products, encompassing devices and drugs. This patented inert film withstands heat sterilization and prevents drug uptake, enhancing product integrity and usability. The technology is the result of collaboration with Johnson & Johnson Vision and aims to improve packaging solutions for active pharmaceutical ingredients. With 47,000 employees and $12.5 billion in sales, Amcor continues to expand its innovative healthcare offerings.

Amcor plc (NYSE: AMCR) will release its fiscal year results for the period ended June 30, 2021, on August 17, 2021, after the U.S. market closes. The company will host a conference call at 5:30 PM EDT on the same day to discuss these results. Investors can access the call via various international dial-in numbers. Furthermore, a webcast and supporting materials will be available on Amcor's investor website, with a replay accessible post-call.

Amcor (NYSE: AMCR) announced a partnership with Michigan State University's (MSU) School of Packaging, marking a historic investment of $10 million, the largest in the university's College of Agriculture and Natural Resources. This funding aims to enhance academic standards, modernize facilities, and create an Endowed Chair of Packaging Sustainability. CEO Ron Delia emphasized that this investment will cultivate talent in responsible packaging solutions. The initiative aligns with Amcor's strategy to innovate and improve recycling and efficiency in packaging.

Amcor supports the U.S. Plastics Pact's Roadmap to 2025, aiming for a circular economy in plastics. The roadmap outlines four key targets for 2025: defining problematic packaging by 2021, ensuring all plastic packaging is reusable, recyclable or compostable, recycling or composting 50% of plastic packaging, and achieving an average of 30% recycled content in packaging. This initiative seeks collaboration across the value chain to address plastic waste effectively.