Bemis Company, Inc. reported financial results for its 3Q ended September 30, 2018. U.S. Packaging net sales of $688.4 million for the 3Q 2018 represented an increase of 2.4 % compared to the same period of 2017. The increase in net sales was driven primarily by higher selling prices partially offset by lower unit volumes of 2%.
Latin America Packaging net sales of $148.3 million for the 3Q 2018 represented a decrease of 19.3% compared to the same period of 2017.
Rest of World Packaging net sales of $189.7 million for the 3Q 2018 represented an increase of 6% compared to the same period of 2017.
“We delivered strong adjusted earnings per share during the third quarter. We continue to make progress through Agility to fix, strengthen, and grow our business,” said William F. Austen, Bemis Company’s President and CEO. “All of our segments performed in-line with our expectations, overcoming incremental headwinds from currency and freight costs. In our U.S. business, strong operational performance within our factories continued. In our Latin American business, our teams continued to execute cost improvements in light of the challenging economic environment in Brazil. In our Rest of World business, our teams delivered the highest level of operating profit since the reporting segment was created through strong operational performance and organic sales growth of our healthcare packaging business.”
Bemis Company, Inc. is a supplier of flexible and rigid plastic packaging used by leading food, consumer products, healthcare, and other companies worldwide.
