Bemis Company Reports Second Quarter Results
Bemis Company, Inc. reported financial results for its second quarter ended June 30, 2017. Refer to the reconciliation of Non-GAAP measures detailed in the attached schedule, including adjusted earnings per share, adjusted EBITDA, and net debt referenced in this release. “Total company profits were less than expected this quarter due to the impact of the challenging economic environment in Brazil. Sales volumes declined sharply in Brazil versus our run rates as consumers, retailers, and our customers reacted to the latest political instability. In our U.S. business, profits were in line with the expectations we shared last quarter,” said William F. Austen, Bemis Company’s President and Chief Executive Officer. “During June, we initiated a restructuring and cost savings plan to better position the Company in the current environment and for the long term. These efforts are progressing well to create a more agile, streamlined, and efficient business that continues to be successful over the long term.” Click Read More below for additional details.