CCL Industries Reports Growth in Q3 2024 Earnings

CCL Industries announced a 9.4% increase in sales for the third quarter of 2024, reaching $1,849.7 million, driven by 6.9% organic growth and 1.8% acquisition gains. Despite a slight negative impact from currency translation, the company saw its operating income rise by 12.8% to $288.9 million.

Significant growth in organic sales was seen in all segments, with Innovia and Checkpoint leading at 18.0% and 14.5% respectively. The company also reported a 13.4% increase in net earnings to $191.7 million, with basic earnings per share up to $1.08.

For the nine-month period ending September 30, 2024, CCL Industries achieved an 8.9% increase in sales to $5.4 billion and a 35.0% rise in net earnings. The period included a $78.1 million revaluation gain due to the Pacman-CCL acquisition in June 2024. The company's balance sheet remains strong, with cash-on-hand at $759.6 million.