Business
CCL Industries Announces Record Results for 2025 First Quarter
First Quarter Highlights Record earnings per Class B share (3) : $1.18 basic and adjusted b...
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"CCL Industries Announces Record Results for 2025 First QuarterFirst Quarter HighlightsRecord earnings per Class B share(3): $1.18 basic and adjusted basic earnings up 9.3%; foreign currency translation positive $0.02 per Class B shareSales increased 8.6% on 3.8% organic growth, 1.4% acquisitions and 3.4% positive currency translationOperating income(1) improved 12.4%, with a 16.8% operating margin(1) up 60 bps$156.3 million returned to shareholders in stock buybacks and dividends TORONTO, ON / ACCESS Newswire / May 7, 2025 / 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 2025 first quarter results.Sales for the first quarter of 2025 increased 8.6% to $1,887.1 million, compared to $1,737.2 million for the first quarter of 2024, with organic growth of 3.8%, acquisition-related growth of 1.4% and 3.4% positive impact from foreign currency translation.Operating income(1) for the first quarter of 2025 increased 12.4% to $316.9 million compared to $282.0 million for the comparable quarter of 2024. Operating income(1) improved 9.4%, excluding currency translation.The Company recorded an expense of $0.8 million for restructuring and other items in the first quarter of 2025, with no corresponding expense recorded in the first quarter of 2024. Restructuring and other items for the 2025 first quarter mainly comprised of severance costs associated with the Checkpoint Segment.Tax expense for the first quarter of 2025 was $68.0 million compared to $60.4 million in the prior year period. The effective tax rate for the 2025 and 2024 first quarters was 24.7%.Net earnings increased 8.0% to $207.4 million for the 2025 first quarter compared to $192.1 million for the 2024 first quarter. Basic and adjusted basic earnings per Class B share(3) were $1.18 for the 2025 first quarter, compared to basic and adjusted basic earnings per Class B share(3) of $1.08 for the prior year first quarter.Geoffrey T. Martin, President and Chief Executive Officer, commented, \"I am very pleased to report record quarterly adjusted earnings, with all our segments performing well, but with notably strong results for our CCL and Innovia segments, against a strong prior year period and amidst a te...