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Amcor (AMCR) Opens Latest Innovation Center in Asia Pacific
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Amcor plc (AMCR - Free Report) opened its latest innovation center in Jiangyin, China, to offer advanced packaging technologies and sustainable material science to Asia Pacific customers. This will accelerate growth and introduce innovation across the region.
To implement innovative packaging ideas, Amcor’s top-notch facility enables its Asia Pacific customers to collaborate hand-in-hand with the company’s experts. Asia Pacific is a vital growth market for the company and aligns well with AMCR’s focus on expanding customer-centric innovation in the region. This investment is one of many significant investments the company is making in the region. The new innovation center will deliver enhanced customer experience through developing the best packaging ideas from across the globe for the regional market.
Amcor’s innovation centers are focused on three key programs — The Catalyst program, The Ideation and Prototyping Innovation Lab and The Applications Lab. These are designed to encourage collaboration on how to develop, in real-time, the best solution, fulfilling customer requirements that will facilitate growth. Additionally, Amcor’s Asia Pacific Innovation Center will serve as a base for collaboration in the packaging industry.
Amcor 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 help AMCR capitalize on strong demand and a growing customer base across its flexible packaging network in Europe.
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.
Amcor recently reported fourth-quarter fiscal 2022 adjusted earnings per share (EPS) of 24 cents, 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 are expected to be in the range of 80-84 cents. Amcor projects adjusted free cash flow of around $1-$1.1 billion.
Price Performance
In the past year, Amcor’s shares have declined 4.6% compared with the industry’s fall of 5.9%.
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 upward by 6% . Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a 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 upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings 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 1.7% in the past year.
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Amcor (AMCR) Opens Latest Innovation Center in Asia Pacific
Amcor plc (AMCR - Free Report) opened its latest innovation center in Jiangyin, China, to offer advanced packaging technologies and sustainable material science to Asia Pacific customers. This will accelerate growth and introduce innovation across the region.
To implement innovative packaging ideas, Amcor’s top-notch facility enables its Asia Pacific customers to collaborate hand-in-hand with the company’s experts. Asia Pacific is a vital growth market for the company and aligns well with AMCR’s focus on expanding customer-centric innovation in the region. This investment is one of many significant investments the company is making in the region. The new innovation center will deliver enhanced customer experience through developing the best packaging ideas from across the globe for the regional market.
Amcor’s innovation centers are focused on three key programs — The Catalyst program, The Ideation and Prototyping Innovation Lab and The Applications Lab. These are designed to encourage collaboration on how to develop, in real-time, the best solution, fulfilling customer requirements that will facilitate growth. Additionally, Amcor’s Asia Pacific Innovation Center will serve as a base for collaboration in the packaging industry.
Amcor 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 help AMCR capitalize on strong demand and a growing customer base across its flexible packaging network in Europe.
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.
Amcor recently reported fourth-quarter fiscal 2022 adjusted earnings per share (EPS) of 24 cents, 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 are expected to be in the range of 80-84 cents. Amcor projects adjusted free cash flow of around $1-$1.1 billion.
Price Performance
In the past year, Amcor’s shares have declined 4.6% compared with the industry’s fall of 5.9%.
Image Source: Zacks Investment Research
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) , Greif Inc. (GEF - Free Report) and Sonoco Products Company (SON - Free Report) . While AIT sports a Zacks Rank #1 (Strong Buy), GEF and SON carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank 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 upward by 6%
.
Applied Industrial pulled off a trailing four-quarter earnings surprise of 22.8%, on average. AIT’s shares have soared 32.2% in a 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 upward by 17%.
Greif pulled off a trailing four-quarter earnings surprise of 22.9%, on average. GEF’s shares have risen 18.6% in the past year.
Sonoco has an expected earnings growth rate of 78.3% for 2022. The Zacks Consensus Estimate for the current year’s earnings 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 1.7% in the past year.