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May 6, 2021 Strong financial results in its latest quarter has triggered packaging converter Amcor to raise its fiscal 2021 outlook for adjusted earnings per share (EPS) growth to 14-15 per cent (from 10-14 per cent). The company posted net income of $684 million for the quarter, up 58 per cent, while EPS was up 63 per cent to $0.43. Adjusted EBIT was $1.14 billion, up 9 per cent on a comparable constant currency basis, while the company also reported cost synergies of $55m from the Bemis flexible packaging business acquisition in 2019, which are expected to rise to $70m for the full year and $180m by end of fiscal 2022. ....
Operator Ladies and gentlemen, thank you for standing by, and welcome to the Amcor Third Quarter 2021 Results Conference Call. [Operator Instructions]. Please be advised, today s conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Tracey Whitehead. Please go ahead. Tracey Whitehead Investor Relations Thank you, operator, and I would like to welcome everyone to Amcor s Third Quarter Earnings Call for Fiscal 21. Joining the call today from Amcor s side is our Chief Executive Officer, Ron Delia; and Chief Financial Officer, Michael Casamento. At this time, I ll direct your attention to our website, amcor.com, under the Investors section, where you ll find our press release and presentation which we will discuss today. We ll also discuss non-GAAP financial measures, and related reconciliations can be found in those documents on our website. As a reminder, the call today includes some forward-look ....
Amcor reports year to date results and raises outlook for fiscal 2021 News provided by Share this article Highlights - Nine Months Ended March 31, 2021 GAAP Net Income of $684 million, up 58%; GAAP earnings per share (EPS) of 43.8 cents per share, up 63%; Adjusted EPS of 51.5 cents per share, up 16% on a comparable constant currency basis; Adjusted EBIT of $1,144 million, up 9% on a comparable constant currency basis; $55 million Bemis cost synergies year to date; expect approximately $70 million in FY21 and well positioned to deliver at least $180 million by end of fiscal 2022; Quarterly dividend higher than this quarter last year at 11.75 cents per share; Approximately 2% of outstanding shares repurchased year to date; and ....
Date Time Amcor launches new Corporate Venturing arm to complement and further advance industry leading innovation pipeline • Amcor Ventures Limited to target investments in early-stage, disruptive start-ups with unique technologies, business models or packaging innovations • Announced first corporate venture investment in ePac Holdings, creating a strategic partnership with the leader in digital printing for flexible packaging • Advances leading innovation and sustainability agenda, which has recently brought differentiated solutions to market, including AmLite Heatflex Zurich, Switzerland: Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible consumer packaging, today announced the formation of Amcor Ventures Limited (“Amcor Ventures”). This new open innovation and corporate venturing arm will invest over USD20m annually over the next five years to partner with early-stage, disruptive companies and incubate ideas. ....
Amcor announces strategic investment in ePac Flexible Packaging News provided by Share this article Share this article ZURICH, April 19, 2021 /PRNewswire/ Amcor (NYSE: AMCR) (ASX: AMC), a global leader in consumer packaging, is pleased to announce a strategic investment in ePac Flexible Packaging, a leader in the high quality, short run length digital printing segment for flexible packaging. The investment will range between approximately $10 to $15 million, including a minority ownership interest in ePac Holdings LLC and funding for one or more ePac sites. Amcor s CEO Ron Delia said, We are incredibly proud of Amcor s innovation and R&D capabilities but with our scale and global footprint we are also uniquely positioned to supplement our internal efforts with investments in complementary technologies and business models. Our investment in ePac is the first corporate venture-type investment for Amcor and provides a great opportunity to learn from a high gro ....