CCL Industries Inc (TSX:CCL.B)
C$ 82.4 1.52 (1.88%) Market Cap: 14.75 Bil Enterprise Value: 16.51 Bil PE Ratio: 22.67 PB Ratio: 3.03 GF Score: 89/100
Back to the Transcripts List

Q2 2024 CCL Industries Inc Earnings Call Transcript

Aug 09, 2024 / 03:00PM GMT
Release Date Price: C$73.92 (+4.08%)

Key Points

Positve
  • Sales increased by 12.2% year-over-year, reaching $1.85 billion.
  • Operating income rose by 25%, excluding the impact of foreign currency translation.
  • Net earnings for Q2 2024 were $279.5 million, a significant increase from $155.9 million in Q2 2023.
  • Free cash flow from operations remained strong at $118.8 million for Q2 2024.
  • The company's balance sheet remains robust with $666 million in cash and $907 million in available undrawn credit capacity.
Negative
  • Corporate expenses increased due to higher discretionary expenses and short-term variable compensation.
  • Net debt increased by $252 million compared to December 31, 2023, primarily due to capital expenditures, business acquisitions, and share buybacks.
  • The effective tax rate, excluding a noncash revaluation gain, remained high at 24.5%.
  • The automotive segment showed only modest growth, indicating potential sector-specific challenges.
  • The company faces uncertainties in the back-to-school season and potential volatility in replenishment orders.
Operator

Good morning, and welcome to the CCL Industries second quarter investor update call. (Operator Instructions) 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.

Geoffrey Martin
CCL Industries Inc - President, Chief Executive Officer, Director

Good morning, everybody, and welcome to our second quarter call. I'm going to hand the call over to Sean Washchuk.

Sean Washchuk
CCL Industries Inc - Chief Financial Officer, Senior Vice President

Thanks, Geoff. I'll draw everyone's attention to slide 2, our disclaimer regarding forward-looking information. I'll remind everyone that our business faces known and unknown risks and opportunities. For further details of these key risks, please take a look at our 2023 annual report, particularly the section risks and opportunities. Our annual and quarterly reports can be found online at the company's website cclind.com or on sedarplus

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.