Bemis Company, Inc. reported 2Q 2016 diluted earnings per share from continuing operations of $0.53. The net impact of currency translation decreased earnings per share in the 2Q 2016 by approximately $0.02, as compared to the prior 2Q, as the company said in the press release received by Lesprom Network.
2Q net sales were $1,021.3 million, compared to $1,030.3 in 2Q 2015. 2Q 2016 Net income was $50.9 million, compared to $65.6 million in 2Q 2015.
“We continue to execute our strategy to meet our long-term financial goals,” said William F. Austen, Bemis Company's President and CEO. “In our U.S. business, our asset recapitalization program continues to enhance margins and volumes. This quarter, U.S. margins again increased, with the slope of improvement slightly muted due to mix of business. As we move into the 3Q, we expect innovation and our asset recapitalization program to continue to deliver margin improvement.”
Austen continued, “In our global business, we made progress this quarter. In Latin America, we improved profits sequentially related to the operational inefficiencies we experienced in the first quarter. In our healthcare business, we continue to work through the ramp-up of our newly hired workforce at our expanded Oshkosh facility; we anticipate the profit benefits from this investment to begin during the fourth quarter. I remain confident in our people, our strategy, and our drive to deliver long-term value to shareholders.”
Bemis Company, Inc. is a major supplier of flexible packaging used by leading food, consumer products, healthcare, and other companies worldwide.
