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

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a17.jpg
Bemis Reports Strong Third Quarter Earnings


Neenah, Wisconsin, October 25, 2018 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its third quarter ended September 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

 
 
Q3
 
Q3 YTD
($ in millions except per share amounts)
 
2018
 
2017
 
change
 
2018
 
2017
 
change
Earnings Per Share
 
$
0.63

 
$
0.61

 
3.3
%
 
$
1.66

 
$
1.46

 
13.7
%
Adjusted Earnings Per Share
 
$
0.77

 
$
0.70

 
10.0
%
 
$
2.08

 
$
1.76

 
18.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Packaging Operating Profit
 
$
93.4

 
$
99.6

 
$
(6.2
)
 
$
270.5

 
$
263.2

 
$
7.3

Latin America Packaging Operating Profit
 
$
8.0

 
$
7.3

 
$
0.7

 
$
25.0

 
$
23.8

 
$
1.2

Rest of World Packaging Operating Profit
 
$
22.2

 
$
17.3

 
$
4.9

 
$
57.4

 
$
45.7

 
$
11.7


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 adjusted earnings per share during the third quarter. We continue to make progress through Agility to fix, strengthen, and grow our business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “All of our segments performed in-line with our expectations, overcoming incremental headwinds from currency and freight costs. In our U.S. business, strong operational performance within our factories continued. In our Latin American business, our teams continued to execute cost improvements in light of the challenging economic environment in Brazil. In our Rest of World business, our teams delivered the highest level of operating profit since the reporting segment was created through strong operational performance and organic sales growth of our healthcare packaging business.”

Austen concluded, “Through three quarters of 2018, we have increased adjusted earnings per share by 18 percent over the prior year and implemented numerous operational, commercial, and administrative improvements through Agility. 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, October 25, 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 Bemis Co Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

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
Basis Of Presentation Basis Of Presentation (Details 2)
Basis Of Presentation Basis Of Presentation (Details)
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: 0000011199-18-000045
Submitted to the SEC: Fri Oct 26 2018 12:02:16 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Converted Paper And Paperboard Prods No Contaners Boxes

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