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Bemis Co Inc (BMS) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Bemis Co Inc

CIK: 11199 Ticker: BMS
Exhibit 99
bemiserlogoa02a01a01a01a24.jpg
Bemis Company Reports Strong First Quarter Earnings Results


Neenah, Wisconsin, April 22, 2019 - Bemis Company, Inc. (NYSE:BMS) today reported financial results for its first quarter ended March 31, 2019. 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

 
 
Q1
($ in millions except per share amounts)
 
2019
 
2018
 
Change
Earnings Per Share
 
$
0.66

 
$
0.52

 
26.9
%
Adjusted Earnings Per Share
 
$
0.67

 
$
0.63

 
6.3
%
 
 
 
 
 
 
 
U.S. Packaging Operating Profit
 
$
91.5

 
$
87.2

 
$
4.3

Latin America Packaging Operating Profit
 
$
11.9

 
$
8.0

 
$
3.9

Rest of World Packaging Operating Profit
 
$
20.1

 
$
16.5

 
$
3.6


Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, referenced in this release.

“We delivered another strong earnings quarter,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “All operating segments performed within our range of expectations and met our Agility objectives. Our U.S. business remains strong, reflected in increased sales volume and operating profit compared to one year ago; we continue to strengthen our operations and lay the foundation for long-term growth through our short-run business initiatives. Our Latin American business continues to execute cost improvements while the business laps the impact of the conversion of certain laundry detergent packaging. Our Rest of World business remains very strong, reflected in operating profit margins that increased 200 basis points versus last year, driven by organic sales growth in our healthcare packaging business and solid operational performance across the segment.”

Austen concluded, “Our teams did a great job this quarter of focusing on running our business and delivering our financial plans; I applaud them for not letting our pending merger with Amcor be a distraction. The operational, commercial, and administrative improvements we have executed through Agility are apparent in our results and will continue to provide long-term benefit. Bemis is well-positioned to continue progressing in the future.”

1

The following information was filed by Bemis Co Inc (BMS) on Monday, April 22, 2019 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
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Details)
Leases (Tables)
Legal Proceedings
Legal Proceedings (Details)
New Accounting Guidance
New Accounting Guidance (Details)
Restructuring And Other Costs
Restructuring And Other Costs (Details)
Restructuring And Other Costs (Tables)
Restructuring Plans
Restructuring Plans (Details)
Restructuring Plans (Tables)
Segments Of Business
Segments Of Business (Details)
Segments Of Business (Tables)
Significant Policies Update (Policies)

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: 0000011199-19-000012
Submitted to the SEC: Fri Apr 26 2019 12:43:15 PM EST
Accepted by the SEC: Fri Apr 26 2019
Period: Sunday, March 31, 2019
Industry: Converted Paper And Paperboard Prods No Contaners Boxes

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