The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Bemis missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Gross margins grew, operating margins grew, net margins dropped.
Bemis recorded revenue of $1.29 billion. The 10 analysts polled by S&P Capital IQ expected a top line of $1.31 billion on the same basis. GAAP reported sales were 5.2% lower than the prior-year quarter's $1.36 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.60. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.54 per share. GAAP EPS of $0.45 for Q3 were 15% lower than the prior-year quarter's $0.53 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 19.2%, 270 basis points better than the prior-year quarter. Operating margin was 8.6%, 80 basis points better than the prior-year quarter. Net margin was 3.7%, 40 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.25 billion. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $5.19 billion. The average EPS estimate is $2.03.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bemis is hold, with an average price target of $32.18.
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