ZURICH and EVANSVILLE, Ind., March 11, 2025 /PRNewswire/ -- Amcor plc ("Amcor") (NYSE: AMCR, ASX: AMC) and Berry Global Group, Inc. ("Berry") (NYSE: BERY) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") in connection with the previously announced combination of the two companies. Expiration of the waiting period satisfies another closing condition necessary for completing the combination. Amcor and Berry Global received U.S. ...

Group 1 - Amcor plc and Berry Global Group, Inc. have made significant progress on their merger deal, with shareholder approval and an expected closing date in mid-2025, subject to closing conditions [1][2] - The merger aims to combine Amcor's global flexibles and regional containers businesses with Berry Global's regional flexibles and global containers and closures businesses, creating a global leader in consumer packaging solutions [2][3] - The merged entity will enhance offerings in flexible film and converted film, providing more sustainable solutions and a unique global healthcare portfolio, while strengthening positions in high-growth categories such as Healthcare, Protein, and Food Service [3][4] Group 2 - Amcor estimates $650 million in benefits from identified costs, growth, and financial synergies by the end of the third year post-closing, along with an additional $280 million in one-time cash benefits from working capital efficiencies [4] - Upon closing, Berry Global's shareholders will receive 7.25 Amcor shares for each share held, resulting in Amcor owning approximately 63% of the combined company, which will have combined revenues of $24 billion and adjusted EBITDA of $4.3 billion [5] - The combined company will service customers in over 140 countries through around 400 production facilities [5] Group 3 - Amcor's stock has gained 15.8% over the past year, outperforming the industry growth of 12% [6] - Amcor currently holds a Zacks Rank of 3 (Hold), while competitors Applied Industrial Technologies, Inc. and RBC Bearings Incorporated have a Zacks Rank of 2 (Buy) [8]

Core Points - Amcor, a global leader in responsible packaging solutions, will present at the Bank of America 2025 Global Agriculture and Materials Conference on February 26, 2025 [1] - The presentation will feature CEO Peter Konieczny and CFO Michael Casamento in a fireside chat scheduled for 1.15pm Eastern time [1] - A replay of the presentation will be available on Amcor's investor relations website [2] Company Overview - Amcor specializes in developing and producing responsible packaging solutions across various materials for food, beverage, pharmaceutical, medical, home and personal-care products [2] - The company collaborates with leading global companies to protect products, differentiate brands, and enhance supply chains [2] - In fiscal year 2024, Amcor generated $13.6 billion in annual sales with a workforce of 41,000 across 212 locations in 40 countries [2]

Group 1 - Samuel Smith has extensive experience in dividend stock research and investment, having served as lead analyst and Vice President at several firms, and also runs a dividend investing YouTube channel [1] - Samuel leads the High Yield Investor investing group, collaborating with Jussi Askola and Paul R. Drake to balance safety, growth, yield, and value in investment strategies [2] - The High Yield Investor service provides real-money portfolios for core, retirement, and international investments, along with trade alerts, educational content, and a community chat room for investors [2]

For Immediate ReleaseChicago, IL – February 13, 2025 – Today, Zacks Equity Research Equity are Packaging Corporation of America (PKG) , Amcor plc (AMCR) , AptarGroup (ATR) and Sonoco Products Company (SON) .Industry: Paper & PackagingLink: https://www.zacks.com/commentary/2414499/4-packaging-stocks-to-watch-despite-industry-headwindsThe Zacks Containers - Paper and Packaging industry has been facing weak demand due to lower consumer spending amid an inflationary backdrop. Pricing actions implemented by the ...

Core Viewpoint - The article discusses seven low-beta dividend stocks that yield between 5% and 14.1%, emphasizing their stability and lower volatility compared to the overall market [1][2][4]. Group 1: Low-Beta Dividend Stocks Overview - Low-beta stocks are characterized by their lower volatility, with betas below one, indicating they move less than the overall market [2][3]. - The focus is on dividend stocks that provide consistent payouts rather than dramatic price movements [2][4]. Group 2: Consumer Staples - Flowers Foods (FLO) has a yield of 5.0% and a five-year beta of 0.37, indicating it is less volatile than the market, although it faced challenges in 2023 due to legal settlements [5][6]. - ConAgra (CAG) offers a 5.6% yield with a five-year beta of 0.27, but has seen declining profits over the past three years, with 2024's net income significantly lower than in 2021 [8][10]. Group 3: Niche Dividend Stocks - Universal Corp. (UVV) operates in the tobacco supply sector, with one- and five-year betas of 0.14 and 0.78, respectively, indicating low volatility [12][14]. - The company is currently under scrutiny due to an internal investigation, which has delayed its quarterly earnings report [15]. Group 4: Healthcare Sector - Omega Healthcare Investors (OHI) has a yield of 7.1% and a one-year beta of 0.20, reflecting its stability in the healthcare real estate sector [20][21]. - The stock has recently pulled back amid broader real estate declines, but its valuation has improved, trading at 13 times next year's FFO estimates [22]. Group 5: Energy Sector - Chord Energy (CHRD) yields 9.1% with one- and five-year betas of 0.74 and 0.84, respectively, despite experiencing a significant drop in share price over the past year [23][24]. - The company maintains a strong balance sheet and generates substantial free cash flow, with a return of capital set at 75% of FCF [24][25]. Group 6: Shipping Sector - International Seaways (INSW) boasts a high yield of 14.1% with one- and five-year betas of -0.11 and 0.14, respectively, although its dividend is highly variable and dependent on business conditions [26][27]. - The stock's fundamentals are solid, with low capital expenditures and a low cash-flow breakeven, making it attractive if shipping rates rebound [29].

Financial Performance - Net sales for the three months ended December 31, 2024, were $3,241 million, a decrease of $10 million compared to $3,251 million in the same period of 2023[129] - Gross profit for the same period increased to $626 million, representing a gross margin of 19.3%, compared to $621 million and 19.1% in 2023[129] - Operating income rose to $297 million, or 9.2% of net sales, up from $242 million and 7.4% in the prior year[140] - Net income attributable to Amcor plc increased by $29 million, or 22%, reaching $163 million for the three months ended December 31, 2024[141] - Diluted earnings per share increased by $0.021, or 23%, to $0.113 for the three months ended December 31, 2024[142] - Adjusted EBIT increased by $2 million, or 5%, for the three months ended December 31, 2024, compared to the same period in 2023, with a 10% increase excluding negative currency impacts[146] - Gross profit increased by $5 million, or 1%, for the three months ended December 31, 2024, driven by cost savings initiatives and increased sales volumes, resulting in a gross profit margin of 19.3%[147] - Net income attributable to Amcor plc increased by $68 million, or 24%, for the six months ended December 31, 2024, driven by an increase in gross profit and lower restructuring expenses[152] - Diluted earnings per share increased by $0.046, or 23%, for the six months ended December 31, 2024, reflecting a 24% increase in net income available to ordinary shareholders[153] - Gross profit increased by $19 million, or 2%, for the six months ended December 31, 2024, resulting in a gross profit margin of 19.5%[158] Segment Performance - The Flexibles Segment reported net sales of $2,511 million, an increase of $30 million, or 1%, compared to $2,481 million in 2023[143] - The Rigid Packaging Segment experienced a net sales decline of $40 million, or 5%, with sales of $730 million for the three months ended December 31, 2024[145] - Flexibles Segment net sales increased by $13 million for the six months ended December 31, 2024, with adjusted EBIT rising by $17 million, or 3%[154][155] - Rigid Packaging Segment net sales decreased by $113 million, or 7%, for the six months ended December 31, 2024, with adjusted EBIT increasing by $2 million, or 2%[156][157] Cash Flow and Debt - Net cash provided by operating activities decreased by $69 million to $159 million for the six months ended December 31, 2024[187][188] - Net cash used in investing activities decreased by $122 million to $134 million for the six months ended December 31, 2024, primarily due to proceeds from the sale of Bericap[189] - Net debt as of December 31, 2024, was $6.5 billion, an increase from $6.1 billion as of June 30, 2024[195] - Total assets as of December 31, 2024, were $15.5 billion, compared to $15.3 billion as of June 30, 2024[180] - Total liabilities as of December 31, 2024, were $20.4 billion, an increase from $20.0 billion as of June 30, 2024[180] - The company has undrawn committed credit facilities available amounting to $2.1 billion as of December 31, 2024[196] - A commitment letter for a $3.0 billion senior unsecured bridge loan facility was entered into to fund the repayment of certain outstanding debt of Berry upon the closing of the Merger[198] - As of December 31, 2024, the Company had no outstanding borrowings on the Bridge Facility, as the commitment had not been converted[199] Mergers and Restructuring - A merger agreement with Berry Global Group, Inc. was approved, with the transaction expected to close in mid-2025, subject to shareholder and regulatory approvals[131] - The company expects to realize an annualized pre-tax benefit of approximately $50 million from restructuring actions related to the 2023 Restructuring Plan by the end of fiscal year 2025[136] - Restructuring and other activities, net increased by $9 million for the three months ended December 31, 2024, primarily due to transaction costs related to the pending merger with Berry Global Group, Inc.[148] Market Conditions - The company continues to face challenges from softer consumer demand and higher costs, but has seen overall volume growth in the first half of fiscal year 2025[134] - Other income/(expenses), net changed by $54 million for the three months ended December 31, 2024, mainly due to lower negative impacts from inflationary accounting in Argentina and a gain on the sale of a 50% equity interest in Bericap North America[149] - Net sales decreased by $100 million, or 1%, for the six months ended December 31, 2024, with an unfavorable price/mix impact of approximately 3% partially offset by higher sales volumes of approximately 2%[151] Shareholder Returns - A cash dividend of $0.1250 per ordinary share was declared and paid during the three months ended September 30, 2024, and a cash dividend of $0.1275 per ordinary share was declared and paid during the three months ended December 31, 2024[200] - A $100 million buyback of ordinary shares and/or CHESS Depositary Instruments was approved, with $39 million remaining as of February 6, 2024, but no shares were repurchased during the six months ended December 31, 2024[202] - Cash outflows for the purchase of treasury shares were $47 million and $48 million during the six months ended December 31, 2024, and 2023, respectively[203] - As of December 31, 2024, the Company held treasury shares at a cost of $10 million, representing approximately 1 million shares[203] Risk Management - There have been no material changes in market risk during the three months ended December 31, 2024[204] - The Company has received investment grade credit ratings from two internationally recognized credit rating agencies, which facilitate issuing debt at favorable interest rates[201] - The Company entered into an interest rate swap contract for a notional amount of $400 million, paying a fixed rate of 4.30%[192]

Amcor Plc (AMCR) reported second-quarter fiscal 2024 (ended Dec. 31, 2024) adjusted earnings per share (EPS) of 16 cents, which met the Zacks Consensus Estimate. The company reported earnings of around 16 cents per share in the year-ago quarter. Gains from improved volumes, continued strong cost performance and benefits from restructuring initiatives were offset by unfavorable impacts from price/mix.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Including special items, the company r ...

Core Insights - Amcor reported revenue of $3.24 billion for the quarter ended December 2024, reflecting a year-over-year decline of 0.3% and a surprise of -5.79% compared to the Zacks Consensus Estimate of $3.44 billion [1] - The earnings per share (EPS) for the same period was $0.16, unchanged from the previous year, indicating no EPS surprise [1] Financial Performance Metrics - Net Sales for Flexible Packaging were $2.51 billion, below the two-analyst average estimate of $2.57 billion, with a year-over-year change of +1.2% [4] - Net Sales for Rigid Packaging were $730 million, compared to the average estimate of $801.20 million, representing a year-over-year decline of -5.2% [4] - Adjusted EBIT for Rigid Packaging was $53 million, lower than the average estimate of $58.56 million [4] - Adjusted EBIT for Flexibles was $322 million, compared to the average estimate of $331.91 million [4] Stock Performance - Amcor's shares have returned +1.4% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - Amcor reported quarterly earnings of $0.16 per share, matching the Zacks Consensus Estimate, with revenues of $3.24 billion, which fell short of expectations by 5.79% [1][2] Financial Performance - Earnings per share (EPS) for the quarter were $0.16, consistent with the previous year [1] - Revenues decreased slightly from $3.25 billion a year ago to $3.24 billion [2] - Over the last four quarters, Amcor has only surpassed consensus EPS estimates once [1] Market Performance - Amcor shares have increased by approximately 1.6% since the beginning of the year, compared to a 1.9% gain for the S&P 500 [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.20, with projected revenues of $3.61 billion, and for the current fiscal year, the EPS estimate is $0.74 on revenues of $14.08 billion [7] - The Containers - Paper and Packaging industry is ranked in the bottom 39% of Zacks industries, which may negatively impact Amcor's stock performance [8]