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Amcor (AMCR), Licella Team Up to Create Recycling Facility
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Amcor (AMCR - Free Report) announced that Amcor Australia & New Zealand business signed a Memorandum of Understanding with Licella Holdings to develop one of the first advanced plastic recycling facilities in Australia. This facility will use Licella Holdings’ Cat-HTR™ technology that repeatedly recycles soft plastic into food-grade post-consumer recycled content, which is in demand.
Australia-based technology company Licella Holdings’ patented Cat-HTR™ is one of the world’s most commercially advanced hydrothermal liquefaction technologies. This technology transforms low-value and waste feedstocks into high-quality oil, which can be further refined to high-value sustainable and renewable fuels and chemicals.
The final terms and conditions of the agreement have not been disclosed yet.
The facility will be located in Melbourne. The Victorian Environmental Protection Agency has already approved stage one of the project. The companies expect stage one of the project to process 20,000 tons of waste plastic per year/annually, depending on collection activities to divert soft plastic waste from landfill or incineration.
This partnership marks a step forward toward Amcor’s target of achieving 30% recycled material across its portfolio by 2030. Moreover, the deal will help Licella Holdings and Amcor to create a local supply of food-grade recycled content that will further enable more customers to participate in a circular economy.
Amcor is a global leader in the development and production of sustainable packaging for a variety of products, including food, beverages, pharmaceuticals, medical devices, and home and personal care items.
In the first quarter of fiscal 2023, AMCR reported adjusted earnings per share of 18 cents, missing the Zacks Consensus Estimate of 19 cents. The bottom line remained unchanged from the year-ago quarter. Total revenues were $3.7 billion in the reported quarter, beating the Zacks Consensus Estimate of $3.5 billion. This compares favorably with the prior year’s first quarter’s reported revenue of $3.4 billion.
The company expects adjusted comparable constant currency EPS growth of approximately 3-8% in fiscal 2023. The Zacks Consensus Estimate for current-year earnings is currently pegged at 78 cents per share, suggesting a decline of 3.7% from the year-ago reported figure. The Zacks Consensus Estimate for current-year revenues is $15 billion, indicating growth of 3.2% year over year.
Price Performance
In the past year, Amcor’s shares have gained 3.8% against the industry’s decline of 1.5%.
KnowBe4’s earnings surprise in the last four quarters was 216.7%, on average. The Zacks Consensus Estimate for the company’s 2022 earnings is pegged at 24 cents, indicating an increase of 118.2% year over year. The estimates have gone up 20% in the past 60 days. KNBE’s shares have gained 6.7% in a year.
The Zacks Consensus Estimate for Hudson’s current year earnings per share is pegged at $2.16, suggesting an increase of about 213% from last year. The estimates have moved up by 20.7% in the past 60 days. It has a trailing four-quarter average earnings surprise of 297%. HDSN’s shares have surged 138.3% in the past year.
Hubbell has an average trailing four-quarter earnings surprise of 10.6%. The Zacks Consensus Estimate for HUBB’s current year earnings is pegged at $10.41 per share. This indicates a 29.3% increase from the prior year’s figure. The estimates have been revised 4.8% north in the past 60 days. Its shares have gained 17.2% in the past year.
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Amcor (AMCR), Licella Team Up to Create Recycling Facility
Amcor (AMCR - Free Report) announced that Amcor Australia & New Zealand business signed a Memorandum of Understanding with Licella Holdings to develop one of the first advanced plastic recycling facilities in Australia. This facility will use Licella Holdings’ Cat-HTR™ technology that repeatedly recycles soft plastic into food-grade post-consumer recycled content, which is in demand.
Australia-based technology company Licella Holdings’ patented Cat-HTR™ is one of the world’s most commercially advanced hydrothermal liquefaction technologies. This technology transforms low-value and waste feedstocks into high-quality oil, which can be further refined to high-value sustainable and renewable fuels and chemicals.
The final terms and conditions of the agreement have not been disclosed yet.
The facility will be located in Melbourne. The Victorian Environmental Protection Agency has already approved stage one of the project. The companies expect stage one of the project to process 20,000 tons of waste plastic per year/annually, depending on collection activities to divert soft plastic waste from landfill or incineration.
This partnership marks a step forward toward Amcor’s target of achieving 30% recycled material across its portfolio by 2030. Moreover, the deal will help Licella Holdings and Amcor to create a local supply of food-grade recycled content that will further enable more customers to participate in a circular economy.
Amcor is a global leader in the development and production of sustainable packaging for a variety of products, including food, beverages, pharmaceuticals, medical devices, and home and personal care items.
In the first quarter of fiscal 2023, AMCR reported adjusted earnings per share of 18 cents, missing the Zacks Consensus Estimate of 19 cents. The bottom line remained unchanged from the year-ago quarter. Total revenues were $3.7 billion in the reported quarter, beating the Zacks Consensus Estimate of $3.5 billion. This compares favorably with the prior year’s first quarter’s reported revenue of $3.4 billion.
The company expects adjusted comparable constant currency EPS growth of approximately 3-8% in fiscal 2023. The Zacks Consensus Estimate for current-year earnings is currently pegged at 78 cents per share, suggesting a decline of 3.7% from the year-ago reported figure. The Zacks Consensus Estimate for current-year revenues is $15 billion, indicating growth of 3.2% year over year.
Price Performance
In the past year, Amcor’s shares have gained 3.8% against the industry’s decline of 1.5%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are KnowBe4 , Hudson Technologies (HDSN - Free Report) , and Hubbell (HUBB - Free Report) . KNBE and HDSN sport a Zacks Rank #1 (Strong Buy) at present, while HUBB has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
KnowBe4’s earnings surprise in the last four quarters was 216.7%, on average. The Zacks Consensus Estimate for the company’s 2022 earnings is pegged at 24 cents, indicating an increase of 118.2% year over year. The estimates have gone up 20% in the past 60 days. KNBE’s shares have gained 6.7% in a year.
The Zacks Consensus Estimate for Hudson’s current year earnings per share is pegged at $2.16, suggesting an increase of about 213% from last year. The estimates have moved up by 20.7% in the past 60 days. It has a trailing four-quarter average earnings surprise of 297%. HDSN’s shares have surged 138.3% in the past year.
Hubbell has an average trailing four-quarter earnings surprise of 10.6%. The Zacks Consensus Estimate for HUBB’s current year earnings is pegged at $10.41 per share. This indicates a 29.3% increase from the prior year’s figure. The estimates have been revised 4.8% north in the past 60 days. Its shares have gained 17.2% in the past year.