Amcor Plc AMCR has made a breakthrough with the development of the world’s first recyclable flexible retort pouch. The technology will enable recycling of high-performance packaging for consumer products, improving the environmental packaging footprint by up to 60%.
Using Amcor’s AmLite HeatFlex Recyclable solution, the new product will be utilized in various retort applications, in which high-barrier, high-heat resistant packaging is required for long shelf-life products.
Moreover, the latest innovation is suitable for brand owners looking for sustainability. At the same time, it shall meet consumers’ increasing preference for sustainable product packaging over older packaging formats with the advanced packaging technology.
Flexible retort packaging is an alternative to metal cans, which can improve the carbon footprint of bundles of consumer products with its light weight, resource efficacy, ease of transportation, and minimization of food waste features.
The latest innovation suggests Amcor’s long-term commitment to sustainable packaging solutions. Meanwhile, Amcor is on track to fulfill its obligation to develop all of the company’s packaging to be recyclable by 2025. Recently, Amcor announced its membership of the Digital Watermarks Initiative “HolyGrail 2.0” to improve post-consumer recycling.
The company’s business delivered stellar financial results in fiscal 2020, better than the updated guidance issued in May. The company expects adjusted earnings per share growth in constant currency basis of approximately 5-10% compared with the 64 cents delivered in fiscal 2020. Amcor is poised to gain from the solid packaging demand for essential products.
Share Price Performance
The company’s shares have gained 11.9% over the past year, outperforming the industry’s growth of 2.8%.
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Industrial Products sector include Astec Industries, Inc. ASTE, Berry Global Group, Inc. BERY and SiteOne Landscape Supply, Inc. SITE. While Astec sports a Zacks Rank #1 (Strong Buy), Berry and SiteOne carry a Zacks Rank of 2 (Buy), currently. You can see
the complete list of today’s Zacks #1 Rank stocks here.
Astec has an estimated earnings growth rate of 13.5% for 2020. The company’s shares have rallied 68.5% in a year’s time.
Berry has a projected earnings growth rate of 32.3% for fiscal 2020. Shares of the company have appreciated 21.8% over the past year.
SiteOne Landscape has an expected earnings growth rate of 15.4% for the current year. The stock has surged 61.6% in the past year.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Source : https://finance.yahoo.com/news/amcor-unveils-recyclable-solution-flexible-131901458.html693