Bemis Q1 Net Profit Down, Adj. EPS Tops View; Maintains FY18 Earnings View

(RTTNews) - Bemis Co., Inc. (BMS), a supplier of flexible and rigid plastic packaging, reported Thursday that its first-quarter net income declined to $47.6 million from $51.1 million last year.

Earnings per share were down 5.5 percent to $0.52 from $0.55 a year ago.

Adjusted earnings per share were $0.63, compared to $0.58 last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.60 per share. Analysts' estimates typically exclude special items.

Net sales increased to $1.03 billion from prior year's $995.4 million. Analysts expected $1 billion.

Further, the company maintained its full year 2018 adjusted earnings per share guidance in the range of $2.75 to $2.90. Analysts estimate earnings of $2.8 per share.

Management maintained its full year 2018 cash from operations guidance in the range of $420 to $450 million, which includes approximately $50 million of restructuring and related cash costs.