Amcor plc (AMCR - Free Report) announced that it has acquired a flexible packaging plant located in the Czech Republic, featuring state-of-the-art specialized equipment for attractive segments, including coffee and pet food. This move will aid AMCR in capitalizing on strong demand and a growing customer base across its flexible packaging network in Europe.
The plant is a greenfield development commissioned by DG Pack in 2019. It boasts state-of-the-art specialized equipment catering to attractive segments, including coffee and pet food. Amcor can significantly scale up operations and establish a highly efficient production hub.
Backed by its strong balance sheet and an annual free cash flow of above $1 billion, Amcor continues to invest in growth and expand capacity in higher-growth, higher value-added plus more packaging-intensive segments like healthcare, protein, pet food, premium coffee and hot fill beverage containers. AMCR has a leading position in each of these categories, which together generate more than $4 billion of annual sales.
The growth rates in all these segments are higher than the average in the broader consumer markets, indicating a significant growth potential. Also, there exists several opportunities to bring innovation and growth in various aspects in these categories, given the need for higher-performance features, such as barrier, heat resistance and resealability, which in turn, drive margins.
Amcor recently reported fourth-quarter fiscal 2022 (ended Jun 30, 2022) adjusted earnings per share (EPS) of 24 cents, which came in line with the Zacks Consensus Estimate. The bottom line increased 4% year over. Total revenues increased 13% year over year to $3,909 million in the reported quarter and beat the Zacks Consensus Estimate of $3,815 million.
AMCR expects adjusted EPS growth of approximately 3-8% on a comparable constant currency basis in fiscal 2023, comprising approximately 5-10% growth from the underlying business performance and a benefit of approximately 2% from share repurchases. EPS is expected to be in the range of 80-84 cents. Amcor projects adjusted free cash flow of around $1-$1.1 billion.
In fiscal 2023, AMCR estimates a negative impact of approximately 2% related to the planned sale of its three plants in Russia and an unfavorable impact of approximately 2% pertaining to a stronger US dollar.
Share Price Performance
In the past year, Amcor’s shares have declined 1.6% compared with the industry’s fall of 0.3%.
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Applied Industrial Technologies, Inc. (AIT - Free Report) , Sonoco Products Company (SON - Free Report) and Greif Inc. (GEF - Free Report) . While AIT and SON sport a Zacks Rank #1, GEF carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised 6% upward.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have rallied 28% in a year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings has moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1% in the past year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised 17% upward.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 16.5% in the past year.
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Amcor plc (AMCR - Free Report) announced that it has acquired a flexible packaging plant located in the Czech Republic, featuring state-of-the-art specialized equipment for attractive segments, including coffee and pet food. This move will aid AMCR in capitalizing on strong demand and a growing customer base across its flexible packaging network in Europe.
The plant is a greenfield development commissioned by DG Pack in 2019. It boasts state-of-the-art specialized equipment catering to attractive segments, including coffee and pet food. Amcor can significantly scale up operations and establish a highly efficient production hub.
Backed by its strong balance sheet and an annual free cash flow of above $1 billion, Amcor continues to invest in growth and expand capacity in higher-growth, higher value-added plus more packaging-intensive segments like healthcare, protein, pet food, premium coffee and hot fill beverage containers. AMCR has a leading position in each of these categories, which together generate more than $4 billion of annual sales.
The growth rates in all these segments are higher than the average in the broader consumer markets, indicating a significant growth potential. Also, there exists several opportunities to bring innovation and growth in various aspects in these categories, given the need for higher-performance features, such as barrier, heat resistance and resealability, which in turn, drive margins.
Amcor recently reported fourth-quarter fiscal 2022 (ended Jun 30, 2022) adjusted earnings per share (EPS) of 24 cents, which came in line with the Zacks Consensus Estimate. The bottom line increased 4% year over. Total revenues increased 13% year over year to $3,909 million in the reported quarter and beat the Zacks Consensus Estimate of $3,815 million.
AMCR expects adjusted EPS growth of approximately 3-8% on a comparable constant currency basis in fiscal 2023, comprising approximately 5-10% growth from the underlying business performance and a benefit of approximately 2% from share repurchases. EPS is expected to be in the range of 80-84 cents. Amcor projects adjusted free cash flow of around $1-$1.1 billion.
In fiscal 2023, AMCR estimates a negative impact of approximately 2% related to the planned sale of its three plants in Russia and an unfavorable impact of approximately 2% pertaining to a stronger US dollar.
Share Price Performance
In the past year, Amcor’s shares have declined 1.6% compared with the industry’s fall of 0.3%.
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Applied Industrial Technologies, Inc. (AIT - Free Report) , Sonoco Products Company (SON - Free Report) and Greif Inc. (GEF - Free Report) . While AIT and SON sport a Zacks Rank #1, GEF carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Applied Industrial has an estimated earnings growth rate of 10.9% for fiscal 2023. In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 earnings has been revised 6% upward.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have rallied 28% in a year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings has moved up 18% in the past 60 days.
Sonoco has a trailing four-quarter earnings surprise of 4.06%, on average. SON’s shares have moved up 1% in the past year.
Greif has an estimated earnings growth rate of 37% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised 17% upward.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 16.5% in the past year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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