CCL Industries Announces 1Q 2022 First Quarter Results

CCL Industries Inc. reported 2022 first quarter results. Sales for the first quarter of 2022 increased 12.8% to $1,521.7 million, compared to $1,349.5 million for the first quarter of 2021, with organic growth of 10.8%, acquisition-related growth of 4.5% partially offset by 2.5% negative impact from foreign currency translation.

In particular, Checkpoint’s sales increased 20.3% to $203 million, on organic growth of 15.5% and acquisition contribution of 9.0%, partially offset by 4.2% negative impact from foreign currency translation.

Operating income for the first quarter of 2022 increased 2.5% to $228.6 million compared to $223.1 million for the comparable quarter of 2021.

“I am pleased to report solid first quarter results despite rising inflationary cost pressures and many supply chain challenges,” said Geoffrey T. Martin, president and CEO. “All segments posted strong organic sales growth, albeit heavily price driven to offset cost pressures, resulting in 10.8% consolidated organic growth and a 6.3% improvement in adjusted basic earnings to $0.85 per Class B share, excluding the impact of foreign currency translation.”