Bemis (BMS) Reports In-Line Q2 EPS

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Go back to Bemis (BMS) Reports In-Line Q2 EPS

Bemis Company Reports Second Quarter Results and Announces Restructuring Program in Latin America

July 28, 2016 6:00 AM EDT

SUMMARY:

Second quarter adjusted diluted earnings per share were $0.67 in 2016 ($0.53 on a GAAP basis). Adjusted return on invested capital was 10.4 percent at June 30, 2016, compared to 10.0 percent at June 30, 2015. On April 29, 2016, Bemis acquired the medical device packaging operations and related value-added services of SteriPack Group. Bemis initiated a restructuring program, reflecting in part the further integration of the recent Emplal acquisition. The Company will close four plants in Latin America to improve efficiencies and reduce fixed costs. Total program charges incurred throughout... More