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Bemis Co Inc (BMS) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a11.jpg
Bemis Company Reports Third Quarter Earnings

Neenah, Wisconsin, October 26, 2017 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its third quarter ended September 30, 2017. Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, adjusted EBITDA, and net debt, referenced in this release.

SUMMARY OF THE QUARTER

 
 
Q3
 
Q3 YTD
($ in millions except per share amounts)
 
2017
 
2016
 
% change
 
2017
 
2016
 
% change
Earnings Per Share
 
$
0.61

 
$
0.72

 
(15.3
)%
 
$
1.46

 
$
1.84

 
(20.7
)%
Adjusted Earnings Per Share
 
$
0.70

 
$
0.75

 
(6.7
)%
 
$
1.76

 
$
2.02

 
(12.9
)%
Cash from Operations
 
$
99.0

 
$
195.4

 
(49.3
)%
 
$
299.5

 
$
348.4

 
(14.0
)%

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

“We made progress during the third quarter, driven in part by operational and manufacturing efficiencies in our U.S. business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “Profit in our Global business also improved over the second quarter. As anticipated, in Latin America, unit volumes continued to be weak due to the challenging economic environment in Brazil; profit improved sequentially as we reduced variable costs to align with customer demand in Brazil.”

Austen continued, “During the third quarter, we concluded the analysis of our restructuring and cost savings plan to properly align our manufacturing and administrative cost structures and better position the Company in the current business environment and for the long-term. We established an Enterprise Project Management Office to enhance ownership and accountability and to ensure that our planned $65 million in savings are delivered on time. The actions we are taking will create a more agile, streamlined, and efficient business, and we will implement these initiatives while maintaining the high quality products, focus on service, and culture of respect and innovation consistent with Bemis’ standard.”

Austen further commented, “While we have made good progress on our business initiatives during the third quarter, we anticipate volume challenges during the fourth quarter in our U.S. and Latin American businesses. We will continue to stay focused on our cost savings plan and initiatives to strengthen our business.”

1

The following information was filed by Bemis Co Inc (BMS) on Thursday, October 26, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Bemis Co Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Equity
Condensed Consolidated Statement Of Equity (parenthetical)
Condensed Consolidated Statement Of Income
Condensed Statement Of Comprehensive Income
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Acquisition (details)
Acquisition (notes)
Basis Of Presentation
Components Of Net Periodic Benefit Cost
Components Of Net Periodic Benefit Cost (details)
Components Of Net Periodic Benefit Cost (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)
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)
Inventories
Inventories (details)
Inventories (tables)
Legal Proceedings
Legal Proceedings (details)
New Accounting Guidance (details)
New Accounting Guidance (notes)
Restructuring (details)
Restructuring (notes)
Restructuring (tables)
Restructuring And Other Costs (details)
Restructuring And Other Costs (notes)
Restructuring And Other Costs (tables)
Segments Of Business
Segments Of Business (details)
Segments Of Business (tables)

Material Contracts, Statements, Certifications & more

Bemis Co Inc provided additional information to their SEC Filing as exhibits

Ticker: BMS
CIK: 11199
Form Type: 10-Q Quarterly Report
Accession Number: 0000011199-17-000050
Submitted to the SEC: Fri Oct 27 2017 2:57:49 PM EST
Accepted by the SEC: Fri Oct 27 2017
Period: Saturday, September 30, 2017
Industry: Converted Paper And Paperboard Prods No Contaners Boxes

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