Bemis Company Reports First Quarter Results and Maintains Full Year 2018 Guidance
Neenah, Wisconsin, April 26, 2018 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its first quarter ended March 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 FIRST QUARTER
($ in millions except per share amounts)
Earnings Per Share
Adjusted Earnings Per Share
U.S. Packaging Operating Profit
Latin America Packaging Operating Profit
Rest of World Packaging Operating Profit
Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, referenced in this release.
“We delivered first quarter earnings above our most recent expectations, driven by improving operations and the 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. “Compared to the prior first quarter, profits increased in our U.S. segment due to the benefits of Agility and operational improvements. Profits increased in our Rest of World segment due to growth and strength in our healthcare packaging business. Profits were down in our Latin American segment due to the impact of the economic environment in Brazil compared to one year ago, as anticipated. We continue to take action in Latin America to drive margin expansion throughout the remainder of 2018.”
Austen continued, “We are maintaining our full year 2018 guidance. Through Agility, we are making progress to improve our business. We continue to execute our plan to create a more agile, streamlined, and efficient business.”
The following information was filed by Bemis Co Inc (BMS) on Thursday, April 26, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.