The 10-second takeaway
For the quarter ended March 31 (Q1), Bemis missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share expanded. GAAP earnings per share grew.
Margins expanded across the board.
Bemis reported revenue of $1.26 billion. The 10 analysts polled by S&P Capital IQ foresaw a top line of $1.30 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.53. The 13 earnings estimates compiled by S&P Capital IQ anticipated $0.54 per share. Non-GAAP EPS of $0.53 for Q1 were 8.2% higher than the prior-year quarter's $0.49 per share. GAAP EPS of $0.47 for Q1 were 12% higher than the prior-year quarter's $0.42 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 19.3%, 160 basis points better than the prior-year quarter. Operating margin was 8.1%, 70 basis points better than the prior-year quarter. Net margin was 3.9%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.33 billion. On the bottom line, the average EPS estimate is $0.59.
Next year's average estimate for revenue is $5.18 billion. The average EPS estimate is $2.38.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bemis is hold, with an average price target of $36.73.
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