Amcor reports strong financial result

Highlights – Nine Months Ended March 31, 2022
• Net sales of $10,635 million, up 13%;
• GAAP Net Income of $696 million, up 2%; GAAP earnings per share (EPS) of 45.6 cents per share, up 4%;
• Adjusted EPS of 56.2 cents per share, up 11% on a comparable constant currency basis;
• Adjusted EBIT of $1,196 million, up 6% on a comparable constant currency basis;
• Increasing returns to shareholders: quarterly dividend increased to 12.0 cents per share; $600 million ofshare repurchases expected in fiscal 2022; RoAFE increased to 16%; and
• Fiscal 2022 outlook for adjusted EPS growth raised to 9.5-11% on a comparable constant currency basis(previously 7-11%). Adjusted Free Cash Flow of approximately $1.1 billion.

Amcor CEO Ron Delia said: “Amcor has consistently demonstrated the ability to execute exceptionally well, remain focused on our strategic priorities and deliver for our customers. The business has delivered another strong result with March quarter net sales growth accelerating to 5%, contributing to 15% Adjusted EPS growth in the quarter and 11% on a year to date basis. As we carry this momentum into the final quarter of the year, we are also raising our guidance for fiscal 2022 adjusted EPS growth to 9.5-11%.”

“Across our business we have continued to focus on sales mix management and to prioritize security of supply for customers. At the same time, our teams have acted quickly and decisively, implementing a range of pricing actions through the year to manage inflation and recover higher input costs. As a result, both the Flexibles and Rigid Packaging segments achieved their strongest earnings growth for the year in the March quarter.”

“Amcor has a strong foundation for growth and we believe our investment case has never been stronger. We are capitalizing on a range of attractive opportunities and increasing investments in priority segments such as healthcare and protein and in our innovative, more sustainable product platforms, which are expected to drive stronger growth, margin expansion and long term value creation for all stakeholders.”
details at: https://www.amcor.com/media/news/amcor-reports-third-quarter-2022-results

Related Posts

Pregis names David Timm president of its blown film operations

Timm will be responsible for delivering operational excellence and growth of Pregis’ blown film and converting operations in the new Anderson, South Carolina facility, as well as the Grand Rapids, Michigan location. The company recently announced a $80 million investment in the new South Carolina operation which will be serving food, CPG, medical, and converter market segments with engineered, customer-focused flexible packaging solutions tailored to the dynamic needs of brand owners and suppliers. “We view growth in specialty films as one of our top strategic imperatives. As the leader of this business, Dave will be charged with delivering on our aggressive goals through organic business growth and strategic expansion. He will oversee the significant investments we’ve made in our operations and build out a center of excellence with the vision of being the first choice in the market. As we look to the future, Dave will reinforce the Pregis Purpose to ‘Protect, Preserve, Inspyre’ by innovating, providing manufacturing excellence and delivering flexible packaging solutions that are driven by our Pregis 2K30 sustainability plan,” said Kevin Baudhuin, president and CEO, Pregis.

Silgan Announces Record First Quarter Earnings

Highlights *Record earnings per diluted share (EPS) of $0.76, an increase of 15% over the prior year quarter *Record adjusted EPS of $0.78 per diluted share *Raises full year 2022 adjusted EPS guidance *Achieved record revenue in each business segment *Achieved record segment income in Dispensing and Specialty Closures and Custom Containers *Increased cash dividend per share by 14.3% *Redeemed outstanding 4 3/4% Senior Notes due 2025

Berry Global Group, Inc. Reports Third Fiscal Quarter 2022 Results

The net sales growth is primarily attributed to increased selling prices of $301 million due to the pass through of inflation. On a two-year basis, organic volumes were up 3%, as we reported strong organic volume growth of 5% a year ago, compared to a 2% decline in the quarter. The volume decline is primarily attributed to general market softness in industrial markets and the moderation of advantaged products related to the easing of the COVID-19 pandemic. Net sales were also impacted by a $151 million unfavorable impact from foreign currency changes and prior year quarter divestiture sales of $16 million. The operating income decrease is primarily attributed to a $22 million unfavorable impact from foreign currency, and an $11 million unfavorable impact from the volume decline, partially offset by a $28 million favorable impact from price cost spread and product mix.
Back To Top
×Close search
Search