Bemis Co Inc (BMS) 10-Q Quarterly Report October 2017

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.”

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:

Other - Other Highlight
Such events could make it difficult or impossible to manufacture or deliver products to our customers, receive production materials from our suppliers, or perform critical functions, which could adversely affect our business globally or in certain regions.

Revenue - Product Highlight
Additionally, because many of our products are used to package consumer goods, our sales and profitability could be negatively impacted by changes in consumer preferences for those underlying products.
Financial - Expense Highlight
Raw materials Raw material cost increases or shortages could adversely affect our results of operations.
Revenue - Product Highlight
We expect these lower volumes, together with the operational inefficiencies associated with the lower volumes, to reduce our sales and earnings for 2017.
Financial - Expense Highlight
We have generally been successful in managing the impact of higher raw material costs by increasing selling prices through our contractual pass-through mechanisms with most of our customers.
Other - Other
In the event we determine...Read more
Financial - Expense
This could result in increased...Read more
Other - Other
Based on this evaluation, the...Read more
Other - Other
Additionally, our operations could be...Read more
Other - Other
The disruption of raw materials...Read more
Revenue - Geography
Similarly, more ordinary course disruptions...Read more
Other - Other
Our response to marketplace competition...Read more

Financial Statements, Disclosures and Schedules

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

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