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%; • 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.
Pregis, a leading global manufacturer of protective packaging, celebrated production start-up at its new 265,000 square foot manufacturing facility in Arlington, Texas with a ribbon cutting attended by the city’s mayor The Honorable Jim Ross.
The new facility is now producing the Pregis EverTec™ mailer which is a durable, lightweight, curbside recyclable, paper cushioned, shipping solution. Pregis is currently employing 75 people in Arlington with plans to scale up to 105 over time.
Pregis acquired the technology to manufacture the envirotech shipping solution in October 2020 with the goal to scale the production of the curbside recyclable product to meet consumer demand. The company self-manufactures the proprietary equipment used to produce the mailers. The new capacity in Arlington is in addition to the recently announced facilities in Bethel, Pennsylvania and McDonough, Georgia, as well as the Elk Grove Village, Illinois facility. The company is expanding with additional sites to serve strategic geographic markets which will create approximately 450 new jobs, in total.
“E-commerce is continuing to grow exponentially. Brand owners and retailers are looking for sustainable alternatives to ship their products direct to consumers. Pregis’ investment in several new manufacturing facilities in 2021 is yet another commitment to our robust e-commerce offering and dedication to offering a diverse portfolio of shipping solutions tailored to this need,” said Kevin Baudhuin, president and chief executive officer, Pregis.
The Arlington facility is in addition to a recently opened 128,000 square foot Garland, Texas manufacturing plant. The latter produces protective packaging materials and serves as a distribution center for a variety of Pregis products.