Bemis' 1Q Shows Some Signs of Improvement; Maintaining $49 FVE
Although Bemis' first quarter of restructuring was far from a grand slam, there were signs of improvement. Volumes remained a weak spot for the company, falling in both the U.S. and in Brazil. Despite a 3% increase in consolidated sales, margins and adjusted operating income contracted as management was unable to reduce costs to fully offset input price inflation. Management left 2018 guidance unchanged, which we feel is attainable at this point in the year. With little changes to our outlook, w...Bemis is a manufacturer of packaging products. The majority of the company's products are sold to customers in the food industry. The U.S. Packaging segment represents various food, consumer, and industrial products packaging-related manufacturing operations. The Latin America Packaging segment includes various food and non-food packaging-related manufacturing operations located in Latin America. The Rest of World Packaging segment includes various food and non-food packaging-related manufacturing operations located in Europe and Asia-Pacific as well as medical device and pharmaceutical packaging-related manufacturing operations in the U.S., Europe, and Asia.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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