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Bemis Co Inc (BMS) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a12.jpg
Bemis Company Reports 2017 Results and 2018 Outlook
Solid Fourth Quarter Performance, within the Company’s Most Recent Expectations

Neenah, Wisconsin, February 1, 2018 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its fourth quarter ended December 31, 2017. Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, adjusted EBITDA, and net debt, and discussion of items impacting comparability in this press release.

SUMMARY OF THE FOURTH QUARTER AND FULL YEAR 2017

 
 
Q4
 
Q4 YTD
($ in millions except per share amounts)
 
2017
 
2016
 
% change
 
2017
 
2016
 
% change
Earnings Per Share
 
$
(0.44
)
 
$
0.64

 
(168.8
)%
 
$
1.02

 
$
2.48

 
(58.9
)%
Adjusted Earnings Per Share
 
$
0.63

 
$
0.67

 
(6.0
)%
 
$
2.39

 
$
2.69

 
(11.2
)%
Cash from Operations
 
$
79.5

 
$
89.0

 
(10.7
)%
 
$
379.0

 
$
437.4

 
(13.4
)%

Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, referenced in this release, which denotes that fourth quarter 2017 GAAP EPS was driven primarily by the Goodwill impairment charge in Latin America.

2018 GUIDANCE SUMMARY

Management set guidance for the full year 2018:
Adjusted diluted earnings per share in the range of $2.75 to $2.90, which includes a $.31 benefit related to U.S. tax reform at the midpoint of the range.
Capital expenditures expected between $150 and $160 million.
Cash flow from operations expected to be in the range of $420 to $450 million, which includes approximately $50 million of restructuring and related cash costs.

“We made progress during the second half of 2017, as reflected in adjusted operating profit that was up nearly $35 million compared to the first half of the year. This increase reflects operational improvements and the early benefits of Agility, which is our plan to fix, strengthen, and grow our business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “We are focused on executing our plan to create a more agile, streamlined, and efficient business.”



1

The following information was filed by Bemis Co Inc (BMS) on Thursday, February 1, 2018 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)
Discontinued Operations (details)
Discontinued Operations (notes)
Discontinued Operations (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)
Multiemployer
Multiemployer (details)
New Accounting Guidance (details)
New Accounting Guidance (notes)
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: 0000011199-18-000012
Submitted to the SEC: Fri Feb 23 2018 4:49:53 PM EST
Accepted by the SEC: Fri Feb 23 2018
Period: Sunday, December 31, 2017
Industry: Converted Paper And Paperboard Prods No Contaners Boxes

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