Bemis Company Updates 2018 Outlook - Quick Facts

(RTTNews) - Bemis Company, Inc. (BMS) announced the management revised its full year 2018 adjusted diluted earnings per share guidance to the range of $2.75 to $2.85 compared to the previous range of $2.75 to $2.90. Management revised its full year 2018 cash from operations guidance to the range of $410 to $430 million, as compared to the previous range of $420 to $450 million.

"We are trimming the top of our earnings per share guidance range by $0.05 on account of headwinds from currency translation. During the second quarter, the Brazilian Real and Argentine Peso devalued; our balance of year plan assumes that current rates remain and adversely impact translation of profits. In line with our outlook at the beginning of the year, we continue to expect full year operating profit margin in our Latin America business to increase 100 basis points as compared to last year," said William Austen, Bemis Company's CEO.

Second-quarter adjusted earnings per share increased 41.7% to $0.68. U.S. Packaging net sales were $683.7 million, an increase of 3.4 percent compared to the same period of 2017. Latin America Packaging net sales of $158.5 million, a decrease of 7.3 percent from last year. Rest of World Packaging net sales of $191.1 million, an increase of 6.3 percent compared to the same period of 2017.