Amcor Plc - AMCR STOCK NEWS

Amcor (NYSE: AMCR) has secured a European patent for its AmFiber™ Performance Paper, a high-barrier paper-based packaging solution. The patent recognizes the product's innovative barrier materials and patterned sealable material, which provides unique functional attributes for food- and healthcare-grade packaging. The AmFiber portfolio, currently available globally, is suitable for various applications including snacks, beverages, meat, dairy, and personal care products. The solution offers recyclability and high-speed customer line performance, supporting Amcor's commitment to sustainable packaging solutions and circular economy initiatives.

Amcor (AMCR) reported solid Q1 FY2025 results with net sales of $3,353 million and GAAP net income of $191 million. The company achieved its third consecutive quarter of sequential volume growth improvement, with Adjusted EBIT up 3% to $365 million and Adjusted EPS increasing 5% to 16.2 cents on a comparable constant currency basis. The quarterly dividend was increased to 12.75 cents per share. Amcor reaffirmed its FY2025 guidance, projecting Adjusted EPS of 72-76 cents and Adjusted Free Cash Flow of $900-1,000 million.

Amcor (NYSE: AMCR) has agreed to sell its 50% stake in Bericap North America (BCNA) for $122 million. BCNA, a joint venture established in 1997, manufactures closures for beverage, food, and industrial markets across three facilities in the U.S., Canada, and Mexico. The joint venture reported FY2024 sales of $190 million and Adjusted EBIT of $19 million. The sale proceeds will be used to reduce debt and is expected to close by December 31, 2024. The transaction is not anticipated to impact Amcor's FY2025 financial outlook.

Amcor (NYSE: AMCR; ASX: AMC) released its 2024 Sustainability Report, showcasing significant achievements and progress. Key highlights include:

• Safest year on record
• 94% of flexible packaging portfolio has recycle-ready solutions
• 95% of rigid packaging is recyclable in practice and at scale
• Surpassed 10% post-consumer recycled plastic goal one year early
• Purchased over 254,000 metric tons of recycled material
• 9% reduction in absolute greenhouse gas emissions compared to FY23
• 14% of electricity used was renewable, a 64% increase from previous year

Amcor's short-term and net-zero targets have been approved by the Science Based Targets initiative. The company published a Decarbonization Roadmap outlining its approach to reach net-zero by 2050. Amcor emphasizes the need for consumer participation and infrastructure development to achieve true circularity in packaging.

Amcor (NYSE: AMCR) has issued a correction to its 2024 Sustainability Report regarding post-consumer recycled (PCR) plastic usage. The company clarified it is on track to reach its 10% PCR plastics goal by fiscal year 2025, rather than having already achieved it. The report highlights significant sustainability achievements, including:

- Over 94% of flexible packaging portfolio has recycle-ready solutions
- 95% of rigid packaging is recyclable in practice
- 9% reduction in absolute greenhouse gas emissions vs FY23
- 14% renewable electricity usage (64% increase from previous year)
- Purchase of 224,000+ metric tons of recycled material

The company's net-zero targets have been approved by the Science Based Targets initiative, and they published a Decarbonization Roadmap outlining their path to net-zero by 2050.

Amcor plc (NYSE: AMCR; ASX: AMC) has announced it will release its First Quarter 2025 results for the three months ended 30 September 2024 after the US market closes on Thursday 31 October 2024. A conference call and webcast to discuss the results will be held at 5.30pm US Eastern Daylight Time on Thursday 31 October 2024 / 8.30am Australian Eastern Daylight Time on Friday 1 November 2024.

The company has provided toll-free and local dial-in numbers for participants from the USA, Australia, United Kingdom, Hong Kong, and Singapore. For all other countries, a non-toll-free number is available. The Conference ID for the call is 2990465.

Access to the webcast and supporting materials will be available via the Investors section of Amcor's website. A webcast replay will be available at the conclusion of the call.

Amcor (NYSE: AMCR, ASX: AMC), a global leader in responsible packaging solutions, has announced that its long-term carbon reduction targets have been approved by the Science Based Targets initiative (SBTi). The company aims to achieve net-zero greenhouse gas emissions across its value chain by 2050. This goal includes significant absolute reductions in scope 1, 2, and 3 emissions, using fiscal year 2022 as a base year.

The approval complements Amcor's near-term emission reduction targets, confirmed in early 2024, which align with a 1.5-degree Celsius trajectory. These near-term targets aim for a 54.6% reduction in absolute Scope 1 and 2 emissions and a 32.5% reduction in Scope 3 emissions by fiscal year 2033.

Amcor's Chief Sustainability Officer, David Clark, emphasized that these targets are integral to the company's sustainability strategy and reflect their commitment to delivering packaging that minimizes environmental impact while supporting customers' decarbonization ambitions.

Amcor plc (NYSE: AMCR; ASX: AMC) has announced changes to its Board of Directors. Graham Chipchase has been nominated as a non-executive director for election at the Company's Annual Meeting of Shareholders on November 6, 2024. Mr. Chipchase is currently the CEO of Brambles and previously served as CEO of Rexam plc, a major consumer packaging company. He brings extensive experience in finance leadership roles and has served on the board of AstraZeneca plc.

The Board believes Mr. Chipchase's leadership experience in global packaging and his strategic development background will complement the existing skill set. Additionally, Karen Guerra will retire from the Board of Directors at the Annual Meeting after years of dedicated service. The Board has expressed gratitude for her expertise and significant contributions during her tenure.

Amcor (NYSE: AMCR; ASX: AMC), a global leader in responsible packaging solutions, has announced key executive appointments to accelerate organic growth. Fred Stephan, previously President of Amcor Flexibles North America, has been named Chief Operating Officer, a newly created role. He will focus on leveraging growth opportunities across global flexible packaging businesses.

David Clark, formerly Vice President of Sustainability, has been appointed Chief Sustainability Officer. This new role, reporting directly to the CEO, will oversee the implementation of Amcor's sustainability strategies and policies company-wide.

These appointments aim to enhance collaboration, drive faster growth in the flexibles business, and increase focus on sustainability initiatives. CEO Peter Konieczny emphasized the company's strong position and significant growth potential, highlighting the opportunity to leverage Amcor's global footprint and scale more effectively.