CCL Industries Inc. (CCDBF) Q1 2025 Earnings Call Transcript

CCL Industries Inc. (OTCPK:CCDBF) Q1 2025 Earnings Conference Call May 8, 2025 7:30 AM ET

Company Participants

Sean Washchuk – Senior Vice President and Chief Financial Officer
Geoff Martin – President and Chief Executive Officer

Conference Call Participants

Ahmed Abdullah – National Bank of Canada
Hamir Patel – CIBC Capital Markets
Sean Steuart – TD Cowen
Stephen MacLeod – BMO Capital Markets
Daryl Young – Stifel
Arthur Nagorny – RBC Capital Markets

Operator

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. Geoff Martin, President and Chief Executive Officer; and joining him is Mr. Sean Washchuk, Senior Vice President and Chief Financial Officer.

Please go ahead, gentlemen.

Sean Washchuk

Thanks, everyone. Sean here. Welcome to our first quarter investor update, and we’ll jump right in. Turn everyone’s attention to Slide number 2, 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 sedarplus.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. Geoff will expand on the segmented operating results of our CCL, Avery, Checkpoint and the Innovia segments momentarily.