Q2 2024 Supremex Inc Earnings Call Transcript
Key Points
- Supremex Inc (SUMXF) reported a high single-digit increase in envelope volume, with a notable 25% increase in US volume compared to Q2 2023.
- The company successfully completed the integration of Forest Envelope into its Chicago operations within 90 days, achieving planned timelines and budgets.
- Supremex Inc (SUMXF) generated strong free cash flow, enabling debt reduction, share buybacks, and the declaration of a dividend.
- Packaging business profitability improved significantly, with EBITDA margins reaching nearly 14%, a level not seen in several quarters.
- The company has more than $69 million in available liquidity, providing flexibility for future investments and operations.
- Total revenues decreased by 3.3% compared to the same period last year, with envelope revenue slightly up but offset by a decrease in average selling price.
- Packaging and specialty products revenue declined due to lower demand from certain sectors, reflecting economic conditions.
- Adjusted EBITDA decreased to $9 million or 13.0% of sales, down from $9.6 million or 13.3% of sales a year ago.
- Net earnings slightly decreased to $2 million or $0.08 per share, compared to $2.1 million or $0.08 per share last year.
- The company faces ongoing challenges in the packaging segment, with volumes remaining soft in key verticals, impacting absorption and efficiency.
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the SupremeX Inc. second-quarter 2024 earnings conference call. (Operator Instructions)
Before turning the meeting over to management, please be advised that this conference call will contain statements that are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated.
I would like to remind everyone that this conference call is being recorded on Thursday, May 9, 2024 -- sorry, on August 8, 2024.
I will now turn the call over to Martin Goulet of MBC Capital Market Advisors. Please go ahead.
Thank you, and good morning. Thanks for joining us for this discussion of SupremeX's financial and operating results for the second quarter ended June 30, 2024. The press release reporting these results was published earlier this morning. It can also be found in the Investors section of the company's website at
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