Bemis Co Inc (BMS) 10-Q Quarterly Report July 2018

Neenah, Wisconsin, July 26, 2018 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its second quarter ended June 30, 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 QUARTER



	Q2							Q2 YTD
($ in millions except per share amounts)	2018		2017		change			2018		2017		change
Earnings Per Share	$	0.51	$	0.30	70.0		%	$	1.03	$	0.85	21.2		%
Adjusted Earnings Per Share	$	0.68	$	0.48	41.7		%	$	1.31	$	1.06	23.6		%

U.S. Packaging Operating Profit	$	89.9	$	80.1	$	9.8		$	177.1	$	163.6	$	13.5
Latin America Packaging Operating Profit	$	9.0	$	2.9	$	6.1		$	17.0	$	16.5	$	0.5
Rest of World Packaging Operating Profit	$	18.7	$	14.8	$	3.9		$	35.2	$	28.4	$	6.8

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 this quarter and continued to make progress on Agility, which is our plan to fix, strengthen, and grow our business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “Operating profit increased $20 million compared to last year, with strong improvement in all of our business segments. In our U.S. business, operating profit increased nearly $10 million as a result of the benefits of Agility and strong operations within our factories. In our Latin America business, despite currency translation headwinds, operating profit increased $6 million due to continued variable and fixed cost improvements made in light of the challenging economic environment in Brazil. Our teams in Brazil also did an excellent job mitigating the impact from the nationwide trucker strike during the quarter. And in our Rest of World business, operating profit increased nearly $4 million driven by strong organic sales growth of healthcare packaging.”

Austen continued, “We delivered a solid first half in 2018, increasing adjusted earnings per share by $.25 over the prior year. Our teams across the globe are committed to improving our business for the long-term.”

The following information was filed by Bemis Co Inc (BMS) on Thursday, July 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.

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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: 0000011199-18-000038
Submitted to the SEC: Fri Jul 27 2018 12:51:29 PM EST
Accepted by the SEC: Fri Jul 27 2018
Period: Saturday, June 30, 2018
Industry: Converted Paper And Paperboard Prods No Contaners Boxes