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Amcor plc Ordinary Shares (NYSE: AMCR, ASX: AMC) is a global leader in the development and production of responsible packaging solutions. With a history that dates back to the 1860s, Amcor has grown to become the world’s largest packaging company, serving diverse industries such as food, beverage, pharmaceutical, medical, home, and personal-care products. Operating in over 40 countries, Amcor employs approximately 41,000 people and generated $14.7 billion in annual sales for the fiscal year 2023.
Amcor specializes in both flexible and rigid packaging, providing innovative solutions that ensure products are fresh, clean, safe, and secure. The company's portfolio includes life-saving pharmaceuticals, medical equipment, food staples, and beverages, with a significant focus on sustainability and developing packaging that is increasingly lighter weight, recyclable, and reusable. Their breakthrough products like AmSky™ and AmPrima™, recognized by Walmart’s 'Circular Connector' platform, showcase Amcor’s commitment to a circular economy and sustainability.
Recent achievements include a Memorandum of Understanding with SK Geo Centric to source advanced recycled material for the Asia Pacific region and the launch of an expanded thermoforming capacity in North America to support healthcare customer growth. Amcor also recently opened its European Innovation Center in Belgium, a hub dedicated to pioneering new material technologies for sustainable packaging.
Financially, Amcor has demonstrated robust performance with a consistent growth trajectory. As of the latest updates, the company reported net sales of $3.443 billion for the three months ended September 30, 2023, and reaffirmed its adjusted EPS guidance for fiscal 2024 at 67 to 71 cents per share. Amcor continues to deliver strong cash returns to shareholders, including increased dividends and share repurchases.
Amcor's latest initiatives include the Bottles of the Year program, highlighting innovative and responsible bottle designs that align with consumer trends and preferences. With a strong focus on research and development, strategic partnerships, and sustainability, Amcor is well-positioned to lead the packaging industry in the next wave of innovation and environmental responsibility.
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.
Amcor (NYSE: AMCR) has announced a strategic investment of up to $45 million in ePac Flexible Packaging, increasing its minority stake. This move reflects Amcor's confidence in ePac's rapidly scalable, digital packaging model catering to small and medium-sized customers. ePac has experienced over 600% annual revenue growth in three years, now exceeding a run rate of $200 million, with 25 global sites offering advanced digital printing services. Amcor aims to leverage this partnership to enhance personalized, connected, and sustainable packaging solutions.
Amcor, a leader in sustainable packaging solutions, has launched its Amcor Lift-Off initiative, offering $250,000 investments to two innovative start-ups: Bloom Biorenewables Ltd and Nfinite Nanotechnology. This initiative aims to enhance sustainable packaging through advanced technologies. Bloom focuses on converting plant waste into biodegradable polyester, while Nfinite specializes in eco-friendly nanocoatings. Both companies will benefit from Amcor's R&D resources, with the goal of driving sustainability and addressing challenges in the packaging industry.
Amcor (NYSE: AMCR) recently inaugurated its latest Innovation Center in Jiangyin, China, aimed at enhancing sustainable packaging solutions in the Asia Pacific region. This facility will streamline collaboration with customers to bring innovative packaging ideas to life, leveraging advanced materials science and analytical labs. Notable programs at the center include the Catalyst™ program for co-innovation, an Ideation and Prototyping Lab for rapid product development, and an Applications Lab for efficient testing. Amcor continues to focus on responsible packaging to drive growth and innovation.
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