NEENAH, Wis. (AP) – Bemis Co. (BMS) on Thursday reported a fourth-quarter loss of $40.7 million, after reporting a profit in the same period a year earlier.
The Neenah, Wisconsin-based company said it had a loss of 44 cents per share. Earnings, adjusted for one-time gains and costs, were 63 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The packaging company posted revenue of $1 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $986 million.
For the year, the company reported profit of $94 million, or $1.02 per share. Revenue was reported as $4.05 billion.
Bemis expects full-year earnings in the range of $2.75 to $2.90 per share.
Bemis shares have fallen 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 6 percent. The stock has decreased 4 percent in the last 12 months.