Bemis Announces Latin American Footprint Consolidation; Maintaining $46 Fair Value Estimate
The only surprises in Bemis’ second quarter were the announcement of footprint optimization in Latin America and delays in removing operational inefficiencies at its Oshkosh healthcare location. Operations in the U.S. and internationally held adjusted operating income steady year over year at $104 million in the U.S. and $28 million internationally, while management made some progress trimming administrative expenses. With results broadly in line with our expectations for the year, we reiterate ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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