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Bemis Co Inc (BMS) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a16.jpg
Bemis Company Reports Strong Second Quarter Earnings


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.”


1

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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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)
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)
Income Taxes (Details)
Income Taxes (Notes)
Inventories
Inventories (Details)
Inventories (Tables)
Legal Proceedings
Legal Proceedings (Details)
New Accounting Guidance (Details)
New Accounting Guidance (Notes)
New Accounting Guidance (Tables)
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)
Significant Policies Update (Notes)

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: 0000011199-18-000038
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

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