CCL Industries Inc. (CCL.A) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to CCL Industries First Quarter Investor Update. Please note that there will be a question and answer session after the call. The moderator for today is Mr. Jeff Martin, President and Chief Executive Officer, and joining him is Mr. Sean Washchuk, Senior Vice President and Chief Financial Officer. Please go ahead, gentlemen. Thanks, everyone. Sean here. welcome to our first quarter investor update and we'll jump right in turn everyone's attention to slide number two our disclaimer regarding forward information I'll remind you that our business faces known and unknown risks and opportunities for further details of these risks please take a look at our 2024 annual report particularly under the section risks and opportunities Our annual and quarterly reports can be found online on the company's website, CCLIND.com, or on CDARplus.ca. The next slide, our summary income statement. For the first quarter of 2025, sales increased 8.6%, with 3.8% organic growth, 1.4% acquisition-related growth, and 3.4% positive impact from foreign currency translation resulting in sales of $1.89 billion compared to $1.74 billion in the first quarter of 2024. Operating income was $316.9 million for the 2025 first quarter compared to $282 million for the first quarter of 2024. a 9% increase excluding the impact of foreign currency translation. Jeff will expand on the segmented operating results of our CCL, Avery, Check Point, and Inovia segments momentarily. Corporate expenses were up for the 2025 first quarter due to slightly higher variable compensation expense than other general items compared to the prior year first quarter. Consolidated EBITDA for the 2025 first quarter excluding the impact of foreign currency translation, increased 8% compared to the same period i...