Exciting Third Quarter Highlights for CCL Industries Inc.
Third Quarter Highlights Per Class B share:
$1.09 adjusted basic earnings up 14.7%; $1.08 basic earnings up 13.7%; currency translation negative $0.01 per share
Sales increased 9.4% on 6.9% organic growth, 1.8% acquisition growth and 0.7% positive currency translation
CCL, Avery, Checkpoint and Innovia posted organic sales growth of 4.9%, 3.0%, 14.5% and 18.0%, respectively
Operating income improved 12.8%, with a 15.6% operating margin up 50 bps
Nine-Month Highlights Per Class B share:
$3.30 adjusted basic earnings up 18.3%; $3.72 basic earnings up 34.3%; $0.44 revaluation gain included in basic earnings; currency translation negative $0.01 per share
Sales increased 8.9% on 5.8% organic growth, 2.6% acquisition growth and 0.5% positive currency translation
Operating income improved 15.7%, with a 16.1% operating margin up 90 bps
TORONTO, ON / ACCESSWIRE / November 13, 2024 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B)(“the Company”), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, today reported 2024 third quarter results. Sales for the third quarter of 2024 increased 9.4% to $1,849.7 million compared to $1,690.5 million for the third quarter of 2023, with an organic growth rate of 6.9%, acquisition-related growth of 1.8% and a 0.7% positive impact from foreign currency translation.
Expanding Opportunities and Growth
The third quarter results for CCL Industries Inc. are certainly impressive, with significant increases in both earnings and sales. The company’s focus on organic growth, acquisitions, and efficiency improvements have clearly paid off, leading to a strong performance in the market. CCL, Avery, Checkpoint, and Innovia have all contributed to the positive sales growth, showcasing the diversity and strength of the company’s product portfolio.
With operating income and margins also on the rise, it’s clear that CCL Industries Inc. is well-positioned for continued success in the coming quarters. The company’s commitment to innovation and providing high-quality solutions to their customers has set them apart as a leader in the industry.
Impact on Me:
As a consumer, the success of CCL Industries Inc. means that I can continue to expect innovative and high-quality label, security, and packaging solutions for the products I purchase. The company’s growth and financial stability bode well for their ability to continue meeting customer needs and delivering value in the market.
Impact on the World:
The positive performance of CCL Industries Inc. has broader implications for the global market, signaling strong growth and stability in the packaging industry. As a world leader in specialty solutions, the company’s success reflects positively on the industry as a whole, showcasing the potential for innovation and growth in the sector.
In conclusion,
The third quarter highlights for CCL Industries Inc. demonstrate a strong performance and a promising outlook for the company’s future. With impressive earnings growth, sales increases, and improved operating margins, CCL Industries Inc. continues to lead the way in providing innovative solutions to a wide range of customers. The company’s success is not only a testament to their strategic focus and operational efficiency but also a positive signal for the industry as a whole.
