Containers and Packaging
Company Overview of Bemis Company, Inc.
Bemis Company, Inc. manufactures and sells packaging products and pressure sensitive materials in North America, Latin America, Europe, and the Asia-Pacific. The company operates in three segments: U.S. Packaging, Global Packaging, and Pressure Sensitive Materials. It offers multilayer polymer, blown, and cast film structures to produce packaging sold for food, medical, pharmaceutical, personal care, electronics, and industrial applications; custom thermoformed packaging and multiwall paper bags; and injection molded plastic and folding carton packaging products. The company also provides narrow-Web rolls of pressure sensitive paper, film, and metalized film printing stocks used in high-spee...
One Neenah Center
PO Box 669
Neenah, WI 54957
Founded in 1858
Key Executives for Bemis Company, Inc.
Chief Executive Officer and President
Total Annual Compensation: $502.0K
Executive Chairman and Chairman of Executive Committee
Total Annual Compensation: $1.0M
Principal Financial Officer
Total Annual Compensation: $290.0K
Senior Vice President and President of Bemis North America
Total Annual Compensation: $495.0K
Total Annual Compensation: $430.0K
Compensation as of Fiscal Year 2013.
Bemis Company, Inc. Key Developments
Bemis Company Declares Regular Quarterly Dividend, Payable on December 1, 2014
Nov 6 14
The Board of Directors of Bemis Company, Inc. has declared a regular quarterly dividend of 27 cents per share. The cash dividend is payable on December 1, 2014, to shareholders of record at the close of business on November 17, 2014.
Bemis Company, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014 and Revises Earnings Guidance for the Year 2014
Oct 23 14
Bemis Company, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $1,098.2 million compared to $1,121.5 million a year ago. Operating income was $107.3 million compared to $87.6 million a year ago. Income from continuing operations before income taxes was $94.5 million compared to $74.0 million a year ago. Net income was $17 million compared to $54 million a year ago. Diluted earnings per share were $0.17 compared to $0.52 a year ago. Income from continuing operations was $61.5 million compared to $48.9 million a year ago. Adjusted diluted earnings per share from continuing operations were $0.61 compared to $0.55 a year ago. Diluted EPS from continuing operations increased to a record $0.61 per share, up 10.9% compared to adjusted diluted earnings per share from continuing operations of $0.55 for the prior third quarter. Cash flow from operations for the quarter of $121.1 million compared to $160.0 million for third quarter of 2013, reflecting generally higher levels of working capital associated with higher raw material costs, increased inventory levels, and higher selling prices. Capital expenditures for the third quarter were about $43 million.
For the nine months, the company reported net sales of $3,290.8 million compared to $3,391.3 million a year ago. Operating income was $309.2 million compared to $256.0 million a year ago. Income from continuing operations before income taxes was $276.9 million compared to $211.7 million a year ago. Net income was $132 million compared to $156.4 million a year ago. Diluted earnings per share were $1.30 compared to $1.50 a year ago. Income from continuing operations was $181.9 million compared to $142.2 million a year ago. Net cash provided by operating activities was $191.5 million compared to $262.4 million a year ago. Additions to property and equipment were $112.7 million compared to $90.3 million a year ago. Adjusted diluted earnings per share from continuing operations were $1.73 compared to $1.60 a year ago. Capital expenditures were $113 million.
For the fourth quarter of 2014, the company expects adjusted earnings per share from continuing operations to be in the range of $0.53 to $0.58.
In anticipation of the sale of the Pressure Sensitive Materials business segment, management established new guidance for continuing operations. Management expects adjusted diluted earnings per share from continuing operations to be in the range of $2.26 to $2.31 for the full year 2014. Considering the results of discontinued operations, management's new full year guidance range is consistent with the middle of its previously stated full year guidance range. Management revised the guidance for total year 2014 cash from operations to reflect inflation, the timing of the Pressure Sensitive Materials divestiture, and generally higher levels of working capital expected to support new product commercialization and strong customer demand for value-added products. Full year 2014 cash flow from operating activities is expected to be in the range of $375 million to $400 million. This range is slightly ahead of last year but below previous full year guidance. Management continues to expect the effective income tax rate for the full year 2014 to be approximately 34.5% and total year 2014 capital expenditures to be approximately $175 million.
Bemis Company, Inc. Undertakes $25 Million Expansion Project in Oshkosh and Expects to Create 160 New Jobs
Oct 3 14
Bemis Company, Inc. is undertaking a $25 million expansion project in Oshkosh that is expected to create 160 new jobs. The company plans to renovate a building next to its existing plant and combine the two into one contiguous facility. The new 110,000-square-foot addition, which will expand the current facility to 215,000-square-feet, will operate 24 hours a day, seven days a week. The Wisconsin Economic Development Corporation (WEDC) is providing the company with two $1 million loans to support the project. One of the loans will be forgiven if the company creates 160 new full-time jobs and retains its existing 161 jobs through at least 2018.
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