The 10-second takeaway
For the quarter ended March 31 (Q1), Bemis met expectations on revenues and beat expectations on earnings per share.
Compared with the prior-year quarter, revenue contracted slightly and GAAP earnings per share contracted.
Gross margins increased, operating margins dropped, net margins shrank.
Bemis booked revenue of $1.30 billion. The 10 analysts polled by S&P Capital IQ hoped for revenue of $1.32 billion on the same basis. GAAP reported sales were 1.5% lower than the prior-year quarter's $1.32 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.49. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.47 per share on the same basis. GAAP EPS of $0.42 for Q1 were 11% lower than the prior-year quarter's $0.47 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.7%, 30 basis points better than the prior-year quarter. Operating margin was 7.4%, 60 basis points worse than the prior-year quarter. Net margin was 3.4%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.36 billion. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $5.35 billion. The average EPS estimate is $2.11.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bemis is hold, with an average price target of $32.78.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.