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Bemis Co Inc (BMS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a19.jpg
Bemis Company Reports Solid Fourth Quarter and 2018 Results


Neenah, Wisconsin, January 31, 2019 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its fourth quarter and year ended December 31, 2018. Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, adjusted EBITDA, and net debt.

SUMMARY OF THE FOURTH QUARTER AND FULL YEAR 2018

 
 
Q4
 
Q4 YTD
($ in millions except per share amounts)
 
2018
 
2017
 
change
 
2018
 
2017
 
change
Earnings Per Share
 
$
0.70

 
$
(0.44
)
 
259.1
%
 
$
2.36

 
$
1.02

 
131.4
%
Adjusted Earnings Per Share
 
$
0.71

 
$
0.63

 
12.7
%
 
$
2.79

 
$
2.39

 
16.7
%
Cash from Operations
 
$
158.4

 
$
79.5

 
99.2
%
 
$
461.5

 
$
379.0

 
21.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Packaging Operating Profit
 
$
89.7

 
$
89.3

 
$
0.4

 
$
360.2

 
$
352.5

 
$
7.7

Latin America Packaging Operating Profit
 
$
7.8

 
$
6.2

 
$
1.6

 
$
32.8

 
$
30.0

 
$
2.8

Rest of World Packaging Operating Profit
 
$
23.8

 
$
15.4

 
$
8.4

 
$
81.2

 
$
61.1

 
$
20.1


Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, referenced in this release.

“We delivered strong earnings and operating cash flow improvement in 2018. Our Agility plan to fix, strengthen, and grow Bemis is progressing well and benefiting our business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “All operating segments performed in-line with our expectations and met our Agility objectives during 2018. In our U.S. business, we focused on improving operations and laying the foundation for long-term growth through our Agile Lane initiative to penetrate short-run business. Our teams in the U.S. worked tirelessly to deliver our financial plans in light of both known and incremental headwinds during the year. In our Latin American business, we continued to execute cost improvements in light of the challenging economic environment in Brazil and delivered 100 basis points of margin expansion during the year. In our Rest of World business, we delivered 200 basis points of operating profit improvement in 2018, driven by solid operational performance across the segment and strong organic sales growth in our healthcare packaging business.”


1

The following information was filed by Bemis Co Inc (BMS) on Thursday, January 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Equity
Consolidated Statement Of Equity (Parenthetical)
Consolidated Statement Of Income
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Acquisition
Acquisition (Details)
Acquisition (Tables)
Acquisitions (Details 2)
Business Description
Business Description (Details 2)
Business Description (Details)
Debt
Debt (Details)
Debt (Tables)
Derivative Instruments
Derivative Instruments (Details 2)
Derivative Instruments (Details)
Derivative Instruments (Tables)
Earnings Per Share Computations
Earnings Per Share Computations (Details)
Earnings Per Share Computations (Tables)
Facility Consolidation And Other Costs
Facility Consolidation And Other Costs (Details)
Facility Consolidation And Other Costs (Tables)
Financial Assets And Financial Liabilities Measured At Fair Value
Financial Assets And Financial Liabilities Measured At Fair Value (Details 2)
Financial Assets And Financial Liabilities Measured At Fair Value (Details)
Financial Assets And Financial Liabilities Measured At Fair Value (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details 2)
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Income Tax
Income Tax (Details)
Income Tax (Tables)
Leases
Leases (Details)
Leases (Tables)
Legal Proceedings
Legal Proceedings (Details)
New Accounting Guidance (Details)
New Accounting Guidance (Notes)
New Accounting Guidance (Tables)
Pension Plans (Details)
Pension Plans (Notes)
Pension Plans (Tables)
Pension Plans 2 (Details)
Pension Plans 3 (Details)
Pension Plans 4 (Details)
Pension Plans 5 (Details)
Postretirement Benefits
Postretirement Benefits (Details)
Postretirement Benefits (Tables)
Quarterly Financial Information
Quarterly Financial Information (Details)
Quarterly Financial Information (Tables)
Restructuring And Other Costs (Details)
Restructuring And Other Costs (Notes)
Restructuring And Other Costs (Tables)
Schedule Ii (Details)
Schedule Ii (Notes)
Segments Of Business
Segments Of Business (Details)
Segments Of Business (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details 2)
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Stock Incentive Plans
Stock Incentive Plans (Details)
Stock Incentive Plans (Tables)
Ticker: BMS
CIK: 11199
Form Type: 10-K Annual Report
Accession Number: 0000011199-19-000006
Submitted to the SEC: Fri Feb 15 2019 4:55:29 PM EST
Accepted by the SEC: Fri Feb 15 2019
Period: Monday, December 31, 2018
Industry: Converted Paper And Paperboard Prods No Contaners Boxes

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