Bemis (BMS) Reports In-Line Q4 EPS, Revenues Beat

Bemis (NYSE: BMS) reported Q4 EPS of $0.71, in-line with the analyst estimate of $0.71. Revenue for the quarter came in at $1 billion versus the consensus estimate of $990.51 million.

“We delivered strong earnings and operating cash flow improvement in 2018. Our Agility plan to fix, strengthen, and grow Bemis is progressing well and benefiting our business,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “All operating segments performed in-line with our expectations and met our Agility objectives during 2018. In our U.S. business, we focused on improving operations and laying the foundation for long-term growth through our Agile Lane initiative to penetrate short-run business. Our teams in the U.S. worked tirelessly to deliver our financial plans in light of both known and incremental headwinds during the year. In our Latin American business, we continued to execute cost improvements in light of the challenging economic environment in Brazil and delivered 100 basis points of margin expansion during the year. In our Rest of World business, we delivered 200 basis points of operating profit improvement in 2018, driven by solid operational performance across the segment and strong organic sales growth in our healthcare packaging business.”

Austen concluded, “I am proud of our teams and the countless operational, commercial, and administrative improvements we executed in 2018 to drive long-term benefit in our business. We are well-positioned to continue progressing in 2019.”

OUTLOOK

Due to the pending merger with Amcor, Bemis Company will not be issuing 2019 guidance.

For earnings history and earnings-related data on Bemis (BMS) click here.

You May Also Be Interested In

• Fulcrum Therapeutics to merge with Slate Medicines in all-stock deal
• Evaxion adds brain cancer vaccine program, drops EVX-03
• L3Harris CEO steps down amid conduct review, shares drop