Bemis Company, Inc. (BMS)

Bemis Company Reports Solid Fourth Quarter and 2018 Results

6:00 am ET January 31, 2019 (BusinessWire) Print


Bemis Company, Inc. (NYSE:BMS) today reported financial results for itsfourth quarter and year ended December31, 2018. Refer to thereconciliation of Non-GAAP measures detailed in the attached schedule,including adjusted earnings per share, adjusted EBITDA, and net debt.

SUMMARY OF THE FOURTH QUARTER AND FULL YEAR 2018
Q4 Q4 YTD
------------------------------- -------------------------------
($ in millions except per share amounts) 2018 2017 change 2018 2017 change
--------- ---------- ---------- --------- --------- -----------
Earnings Per Share $ 0.70 $ (0.44 ) 259.1 % $ 2.36 $ 1.02 131.4 %
Adjusted Earnings Per Share $ 0.71 $ 0.63 12.7 % $ 2.79 $ 2.39 16.7 %
Cash from Operations $ 158.4 $ 79.5 99.2 % $ 461.5 $ 379.0 21.8 %
U.S. Packaging Operating Profit $ 89.7 $ 89.3 $ 0.4 $ 360.2 $ 352.5 $ 7.7
Latin America Packaging Operating Profit $ 7.8 $ 6.2 $ 1.6 $ 32.8 $ 30.0 $ 2.8
Rest of World Packaging Operating Profit $ 23.8 $ 15.4 $ 8.4 $ 81.2 $ 61.1 $ 20.1

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 and operating cash flow improvement in2018. Our Agility plan to fix, strengthen, and grow Bemis is progressingwell and benefiting our business," said William F. Austen, BemisCompany's President and Chief Executive Officer. "All operating segmentsperformed in-line with our expectations and met our Agility objectivesduring 2018. In our U.S. business, we focused on improving operationsand laying the foundation for long-term growth through our Agile Laneinitiative to penetrate short-run business. Our teams in the U.S. workedtirelessly to deliver our financial plans in light of both known andincremental headwinds during the year. In our Latin American business,we continued to execute cost improvements in light of the challengingeconomic environment in Brazil and delivered 100 basis points of marginexpansion during the year. In our Rest of World business, we delivered200 basis points of operating profit improvement in 2018, driven bysolid operational performance across the segment and strong organicsales growth in our healthcare packaging business."

Austen concluded, "I am proud of our teams and the countlessoperational, commercial, and administrative improvements we executed in2018 to drive long-term benefit in our business. We are well-positionedto continue progressing in 2019."

News: $BMS Update on Amcor and Bemis Transaction

Amcor Limited (ASX: AMC) and Bemis Company, Inc. (NYSE: BMS) have made significant progress towards closing the all-stock transaction announced on 6 August 2018. Integration planning led by a dedicated team of full time executives from both companies is well underway and preparation of ...

Find out more https://marketwirenews.com/news-releases/update-on-amcor-and-bemis-transaction-7541786.html

Press Release: Update on Amcor and Bemis Transaction

Today 12:35 AM ET (Dow Jones)Print



Press Release: Update on Amcor and Bemis Transaction


Update on Amcor and Bemis Transaction

MELBOURNE, Australia & NEENAH, Wis.--(BUSINESS WIRE)--January 24, 2019--

Amcor Limited (ASX: AMC) and Bemis Company, Inc. (NYSE: BMS) have made significant progress towards closing the all-stock transaction announced on 6 August 2018. Integration planning led by a dedicated team of full time executives from both companies is well underway and preparation of documentation is nearing completion.

The process toward securing required antitrust clearances and other regulatory consents in all jurisdictions which are conditional to closing have either been completed or are progressing in line with the range of original expectations. However, in the United States (US), antitrust approval and completion of shareholder meeting documentation review by the US Securities and Exchange Commission have been delayed due to the partial US government shutdown.

As a result, it is now anticipated the transaction will close in the second quarter of calendar year 2019.

NEENAH, Wis.--(BUSINESS WIRE)--
The Board of Directors of Bemis Company, Inc. (BMS) has declared a regular quarterly cash dividend of 31 cents per share. The dividend is payable December 3, 2018, to shareholders of record at the close of business on November 15, 2018. Bemis has paid an annual dividend on its common stock since 1922. Bemis has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

Bemis Shareholders Upset Over Merger Bid and Seek a Higher Price
August 15, 2018
Business Journal
Tags: NewsPoints Bemis Amcor United States Corporate Affairs Mergers & Acquisitions

A group of Bemis Company shareholders are attempting
to block the purchase of the company by Amcor Limited.

The shareholders allege that the purchase price of 5.1 shares of Amcor stock for each share of Bemis (or an implied value of $54 per share) is insufficient in light of the company's growth prospects, and that deal-protection clauses in the merger agreement preclude other companies from submitting successful competing offers. In addition, shareholders allege that senior management obtained personal benefits for their own self interests in agreeing to sell the company that are not being shared with common stockholders.

Bemis did not immediately respond to requests for a comment.
To contact the law firm on behalf of shareholders of
Bemis for more information as to how you can participate with other shareholders for a higher price at no cost or expense call toll free 800.511.7037 or contact@tripplevy.com

Aug 3 (Reuters) - Australian packaging company Amcor Ltd is in advanced talks to buy U.S. rival Bemis Co , the Wall Street Journal reported https://www.wsj.com/articles/australia-listed-amcor-is-in-advanced-talks-to-buy-bemis-1533308540?mod=pls_whats_news_us_business_f on Friday, citing people familiar with the matter.
Shares of Bemis, which has a market value of about $4.20 billion, were up 10.5 percent at $51.23 in morning trade.
A deal could be announced as soon as next week, according to the report.

Any update on possible sale options? It’s been 6 months. Stock is stuck in the mud currently. With all the good economic news lately, along with consumers spending again, thinks should be positive for the company.

The Board of Directors of Bemis Company, Inc. (BMS) has declared a regular quarterly cash dividend of 31 cents per share. The dividend is payable June 1, 2018, to shareholders of record at the close of business on May 17, 2018. Bemis has paid an annual dividend on its common stock since 1922. Bemis has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

Packaging Giant Bemis Hires Goldman Sachs to Explore Sale Options -New York Post

Bemis (NYSE:BMS)
Intraday Stock Chart
Today : Tuesday 5 December 2017

--U.S. plastic food packaging company Bemis Co. (BMS) has recruited Goldman Sachs (GS) to explore options of a sale, the New York Post reports, citing sources.

Market up again and Bemis diving again. Moderator, if you want to delete my posing, go ahead, as they only help me vent. Until Bemis management changes their way of doing business, this funk the shareholders are in, will continue. Bemis doesn't seem to get the fact that the consumer is changing their eating habits. They want fresh and not frozen dinners. Call on Amazon, as they will be packaging their own brands in their new Whole Foods stores. Has Bemis thought about that possibility? Put the corporate jet into action and sell out of the box.

Change the management. You executives need to look in the mirror for answers. Quit blaming Brazil, customer guidance, or anything else. It is your management style that is not working. Example: try looking up Bemis in Terre Haute and find a phone number. It will take forever to figure out how to get the sales department. On the bright side, if you keep guiding lower every quarter, at some point, you will meet expectations. You gave us guidance one quarter ago, and already you were wrong. How could that happen, unless you have no idea how to run this company. The stock market will correct at some point, so that will be your next excuse. How could the market be at record highs and you can't even keep your pps from going south? Perhaps it is time for the mighty Bemis to find a company with enough dollars and sell Brazil, and your other, drags on guidance. That would eliminate another excuse. JMO

Sales management and the sales force, who fudge their budgets, to show upper management that they will have a good year, need to be held accountable. An entire good year for the stock market and BMS is in total meltdown. V.Ps and sales managers need to have their positions evaluated. The sales force is also not doing their job. New markets people.

Any brilliant person have any thoughts on the bottom of this dive, which was caused by the CEO and divisional leaders, who have no clue on what happened. They are getting another body to assist in correcting this disaster? To me, that means our current executives should not be there, as they did not have a pulse on the company, or grow the business. Shame, as BMS was one of the best the U.S. Had to offer. There is hope, but someone needs to take charge.

NEENAH, Wis. (AP) _ Bemis Co. (BMS) on Thursday reported first-quarter net income of $51.1 million.
The Neenah, Wisconsin-based company said it had profit of 55 cents per share. Earnings, adjusted for restructuring costs, came to 58 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The packaging company posted revenue of $995.4 million in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $993.8 million.
Bemis expects full-year earnings in the range of $2.50 to $2.60 per share.

Exactley!!!!!!!

Why didn't they see this coming. VP of Sales should have had a handle on this quarter results, along with production and sales managers. Should be growing with new customers and not relying on existing business. Not like the past oversight. How about walking through the plants and asking questions. Example, why are the machines not running? Management is letting investors down. Sales manages need to be held accountable, along with the CEO.

RBC Capital Markets downgraded Bemis (NYSE:BMS) from Sector Perform to Underperform. Fundamentals support the rating change.

Analysis

NEENAH, Wis. (AP) _ Bemis Co. (BMS) on Thursday reported second-quarter net income of $50.9 million.

On a per-share basis, the Neenah, Wisconsin-based company said it had net income of 53 cents. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to 67 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.

The packaging company posted revenue of $1.02 billion in the period, which met Street forecasts.

Bemis expects full-year earnings in the range of $2.68 to $2.78 per share.

Bemis shares have risen 17 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has increased 20 percent in the last 12 months.

The Board of Directors of Bemis Company, Inc. (BMS) has declared a regular quarterly cash dividend of 29 cents per share. The dividend is payable June 1, 2016, to shareholders of record at the close of business on May 17, 2016. Bemis has paid an annual dividend on its common stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

Bemis Company, Inc. (BMS) today announced that it has completed the acquisition of the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed.

Bemis misses by $0.02, misses on revs; lowers top end of FY16 EPS in-line (BMS) :
•Reports Q1 (Mar) adj earnings of $0.60 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.62; revenues fell 6.9% year/year to $967.9 mln vs the $1.01 bln Capital IQ Consensus.
•Co issues in-line guidance for FY16, lowers top end of EPS to $2.68-2.78 from $2.68-2.83 vs. $2.76 Capital IQ Consensus Estimate.
•Gross profit margins improved 70 basis points to 21.6 percent of net sales for the first quarter of 2016, compared to 20.9 percent in the prior first quarter.
•Management lowered the top end of the full year EPS guidance range fully on account of the impact of the operational inefficiencies in the Company's Latin American business and in the Company's North American healthcare business. Management confirmed that it expects full year cash from operations to be in the range of $450 to $500 mln.
•Management also confirmed that it expects capital expenditures for 2016 of ~$200 mln to support productivity and efficiency projects as well as growth projects driven by increased customer demand for value-added products.

On Jan 19, 2016, Zacks Investment Research downgraded Bemis Company, Inc. BMS to a Zacks Rank #4 (Sell). The company’s performance will be hurt by foreign currency headwinds. Volume declines on weak non-durable consumer spending, fluctuations in raw material prices and strong competition also pose concerns.

BMS) has declared a regular quarterly cash dividend of 28 cents per share. The dividend is payable September 1, 2015, to shareholders of record at the close of business on August 19, 2015.

NEENAH, Wis.--(BUSINESS WIRE)--

Bemis Company, Inc. (BMS) announced today that its Board of Directors has approved a 4 percent increase in the quarterly cash dividend, increasing it to 28 cents per share compared to the previous quarterly dividend of 27 cents per share. The cash dividend is payable on March 2, 2015, to shareholders of record at the close of business on February 18, 2015. This marks the 32nd consecutive year that the Company has increased its dividend payment. Bemis has been paying an annual dividend on its stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

7:15 am Bemis beats by $0.01, reports revs in-line; guides FY15 EPS in-line (BMS) : Reports Q4 (Dec) earnings of $0.57 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.56; revenues fell 3.0% year/year to $1.05 bln vs the $1.05 bln consensus.


•Co issues in-line guidance for FY15, sees EPS of $2.52-2.67 vs. $2.52 Capital IQ Consensus Estimate.

•Capital expenditures are expected to be in the range of $185 to $200 million.

Bemis reports EPS in-line, misses on revs; guides Q4 EPS below consensus (BMS) : Reports Q3 (Sep) earnings of $0.67 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.67; revenues fell 2.1% year/year to $1.1 bln vs the $1.23 bln consensus.

Co issues downside guidance for Q4, sees EPS of $0.53-0.58 vs. $0.60 Capital IQ Consensus Estimate.
Full year 2014 cash flow from operating activities is expected to be in the range of $375 million to $400 million.
Continues to expect the effective income tax rate for the full year 2014 to be approximately 34.5 percent and total year 2014 capital expenditures to be approximately $175 million.

The Board of Directors of Bemis Company, Inc. (BMS) has declared a regular quarterly dividend of 27 cents per share. The cash dividend is payable on September 2, 2014, to shareholders of record at the close of business on August 19, 2014. Bemis has paid an annual dividend on its common stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

7:06 am Bemis beats by $0.01, misses on revs; guides Q3 EPS in-line; guides FY14 EPS in-line (BMS) : Reports Q2 (Jun) earnings of $0.65 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.64; revenues fell 4.3% year/year to $1.24 bln vs the $1.28 bln consensus.


•Co revises low end of in-line guidance for Q3, sees EPS of $0.65-0.70 vs. $0.66 Capital IQ Consensus Estimate, prior guidance $2.40-2.55.
•Co issues in-line guidance for FY14, sees EPS of $2.45-2.55 vs. $2.47 Capital IQ Consensus Estimate.

Gone a lot higher than expected. LOL. Waiting for a close below 36.78 area to signal end of recent run.

Great strength shown so far, but the bears should soon have their day.

Glta whatever your position.

BMS - Drop away!

Love it!

BMS - Let's start the drop!

~ Thursday! $BMS ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!

~ $BMS ~ Earnings expected on Thursday *
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Bemis Company, Inc. is a manufacturer of flexible packaging products and pressure sensitive materials, selling to customers throughout North America, Latin America, Europe, and Asia Pacific. The Company’s business activities are organized around its two business segments: Flexible Packaging and Pressure Sensitive Materials. The majority of the Company’s products are sold to customers in the food industry. Other customers include companies inbusinesses, such as chemical, agribusiness, medical, pharmaceutical, personal care, electronics, automotive, construction, graphic industries, and other consumer goods. On August 1, 2011, the Company acquired Mayor Packaging. On December 1, 2011, it acquired the Shield Pack, LLC of West Monroe, Louisiana. During 2011, it completed the purchase of the remaining interests owned by the non-controlling interest of its Brazilian subsidiary, Dixie Toga Ltda.

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