Amcor (AMCR) Launches North America High-Barrier Paper Packaging
Amcor Plc. AMCR announced the launch of curbside-recyclable AmFiber Performance Paper packaging in North America. The company intends that Amcor Performance Paper, which is part of the AmFiber portfolio, and its research and development team will make its customer’s transition from plastic to paper packaging effortless and advantageous.
Performance Paper is prequalified by How2Recycle and meets the repulpability standards for curbside recycling. It enables brands to provide consumers with more sustainable outcomes for packaging.
AmFiber Performance Paper is a laminated paper that provides an improved barrier and packer efficiency compared to the existing coated papers. It is PVdC-free and is recyclable in most paper recycling waste streams.
With the introduction of Amcor's curbside-recyclable packaging, brands will have more options for packaging their products in formats and materials that attract customers. At the same time, it will assist the brands in meeting their sustainability goals, while still maintaining the necessary operational performance.
Amcor's product portfolio offers packaging options for confectionery, bars, cookies, cereals, dry beverages and dry mixes. Its AmFiber portfolio of paper-based packaging is also offered in a number of other markets like dairy, produce, meat, poultry, seafood, ready meals, lawn and garden, and personal care.
Amcor is striving to get an edge over competition and to meet the ever-evolving consumer needs through innovation. The launch of North America AmFiber Performance Paper is in sync with that strategy.
In the fourth quarter of fiscal 2023, the company reported adjusted earnings per share (EPS) of 19 cents, which beat the Zacks Consensus Estimate of adjusted EPS of 18 cents. The bottom line declined 21% from the prior-year quarter’s EPS of 24 cents due to lower volumes. This was partially offset by price/mix benefits.
Total revenues for the quarter were $3,673 million, which missed the Zacks Consensus Estimate of $3,866 million. Revenues were down 6% in comparison with the year-ago quarter, which included an unfavorable impact of approximately 2% related to items affecting comparability and a price increase of 1%. Movements in foreign exchange rates had no material impact on the quarter’s net sales.
Share Price Performance
Over the past year, Amcor’s shares have fallen 19.2% compared with the industry’s 1.2% decline.
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Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are Caterpillar Inc. CAT, Astec Industries, Inc. ASTE and A. O. Smith Corporation AOS. CAT and ASTE sport a Zacks Rank #1 (Strong Buy) at present, and AOS has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has an average trailing four-quarter earnings surprise of 18.5%. The Zacks Consensus Estimate for CAT’s 2023 earnings is pegged at $19.81 per share. The consensus estimate for 2023 earnings has moved north by 11.4% in the past 60 days. Its shares gained 51.6% in the last year.
Astec has an average trailing four-quarter earnings surprise of 20%. The Zacks Consensus Estimate for ASTE’s 2023 earnings is pegged at $2.81 per share. The consensus estimate for 2023 earnings has moved 4% north in the past 60 days. ASTE’s shares gained 22.8% in the last year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings per share is pegged at $3.57. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days. It has a trailing four-quarter average earnings surprise of 10.5%. AOS gained 11.1% in the last year.
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