Containers and Packaging
Company Overview of Bemis Company, Inc.
Bemis Company, Inc. invents, designs, and manufactures packaging products in North America, Latin America, Europe, and the Asia-Pacific. It operates through two segments, U.S. Packaging and Global Packaging. The company offers multilayer polymer, blown, and cast film structures to produce packaging for food, personal care, medical, pharmaceutical, electronics, industrial, and other consumer goods applications. It distributes its products through its direct sales force. The company was formerly known as Bemis Bro. Bag Company and changed its name to Bemis Company, Inc. in 1965. Bemis Company, Inc. was founded in 1858 and is based in Neenah, Wisconsin.
One Neenah Center
PO Box 669
Neenah, WI 54957
Founded in 1858
Key Executives for Bemis Company, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $754.2K
Chief Financial Officer and Vice President
Total Annual Compensation: $38.5K
Senior Vice President and President of Bemis North America
Total Annual Compensation: $546.5K
Vice President, General Counsel and Secretary
Total Annual Compensation: $441.0K
Vice President of Human Resources
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2014.
Bemis Company, Inc. Key Developments
Bemis Company Declares Regular Quarterly Dividend Payable December 1, 2015
Nov 5 15
The board of directors of Bemis Company, Inc. has declared a regular quarterly cash dividend of 28 cents per share. The dividend is payable December 1, 2015, to shareholders of record at the close of business on November 18, 2015.
Bemis Company, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Full Year 2015
Oct 22 15
Bemis Company, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net sales of $1,018.3 million against $1,098.2 million a year ago. Operating income was $105.8 million against $107.3 million a year ago. Income from continuing operations before income taxes was $94.0 million against $94.5 million a year ago. Income from continuing operations was $62.5 million or $0.64 per diluted share against $61.5 million or $0.61 per diluted share a year ago. Net income was $62.5 million or $0.64 per diluted share against $17.0 million or $0.17 per diluted share a year ago. Diluted earnings per share, as adjusted were $0.67 against $0.61 a year ago. Adjusted EBIT from continuing operations was $110.4 million against $107.3 million a year ago. Adjusted EBIT was $110.4 million against $116.4 million a year ago.
For the nine months, the company reported net sales of $3,088.7 million against $3,290.8 million a year ago. Operating income was $312.4 million against $309.2 million a year ago. Income from continuing operations before income taxes was $278.7 million against $276.9 million a year ago. Income from continuing operations was $185.1 million or $1.89 per diluted share against $181.9 million or $1.79 per diluted share a year ago. Net income was $182.5 million or $1.86 per diluted share against $132.0 million or $1.30 per diluted share a year ago. Net cash provided by operating activities was $412.0 million against $191.5 million a year ago. Additions to property and equipment were $147.9 million against $112.7 million a year ago. Diluted earnings per share, as adjusted were $1.95 against $1.73 a year ago.
The company provided earnings guidance for the full year 2015. The company narrowed the range of full year adjusted diluted earnings per share to $2.52 to $2.57, as a result of the continued weakness of currencies in Latin America. The company expects full year cash from operations to be approximately $500 million. The company continues to expect capital expenditures for 2015 to be in the range of $200 million to $215 million to support productivity and efficiency projects as well as growth projects driven by increased customer demand for value-added products. The company expects an effective income tax rate for the full year 2015 of approximately 33.5%.
Bemis Mulls Acquisitions
Oct 22 15
Bemis Company, Inc. (NYSE:BMS) is seeking acquisitions. Mike Clauer, Vice-President and Chief Financial Officer of Bemis said: "What we are trying to do is find organizations that we want to own and get to know the ownership family, if it's private, and see if we can strike up a conversation about helping them with their succession plan or exit strategy."
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