WEB CCL Industries Announces Record Results for 2024 Second Quarter
Earnings Per Share Surges 256%, Net Earnings Soar 793%
Toronto, August 8, 2024 – WEB CCL Industries Inc. (TSX: CCL.B), a global leader in label and packaging solutions, today announced record financial results for the second quarter of 2024.
Second Quarter Highlights Per Class B Share:
- Adjusted basic earnings up 256% to $1.13
- Basic earnings up 76% to $1.56
- Diluted earnings up 76% to $1.54
Financial Performance:
WEB CCL Industries' net earnings increased 793% to $2,795 million for the 2024 second quarter compared to $1,559 million in the same period last year. This significant increase was driven by strong organic growth across all business segments, as well as favorable currency exchange rates.
Revenue grew 18.5% to $6,527 million, reflecting increased demand for the company's products and services in various end markets.
Operational Highlights:
WEB CCL Industries continued to invest in its manufacturing capabilities and global expansion during the second quarter. The company opened a new state-of-the-art facility in China and acquired a leading packaging business in Europe.
The company's workforce has also grown, with approximately 26,000 employees operating 213 production facilities worldwide.
Outlook:
WEB CCL Industries remains optimistic about the future and expects continued growth in the second half of 2024. The company's strong financial performance and strategic investments position it well to capitalize on opportunities in the global label and packaging industry.
WEB CCL Industries will hold a live webcast call on August 8, 2024, at 8:00 AM EST to discuss its second quarter financial results.
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