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    Breaking News

    CCL Industries Announces 1Q 2021 Results

    CCL, Checkpoint and Innovia posted organic growth of 5.4%, 11.2% and 5.7%.

    CCL Industries Announces 1Q 2021 Results
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    05.18.21
    CCL Industries Inc. reported 4.1% sales growth during the first quarter of 2021. Sales were $1,349.5 million, compared to $1,296.5 million for the first quarter of 2020.
     
    Operating incomefor the first quarter of 2021 increased 11.4% to $223.1 million compared to $200.3 million for the comparable quarter of 2020. Operating incomeimproved 14.2%, excluding currency translation.
     
    “Our people continued to perform despite ongoing pressures from the pandemic delivering a strong start to 2021,” Geoffrey T. Martin, president and CEO, said. “The company posted 4.2% consolidated organic growth, despite the pandemic’s comparative effect on parts of Avery, which had a good first quarter in 2020, largely unimpeded by world events. Operating income increased 11.4%, driving 13.9% improvement in adjusted basic earnings to $0.82 per Class B share, eliminating the impact of foreign currency translation adjusted net earnings improved 18.6%.”
     
    CCL sales increased 4.5% to $876.7 million. Operating income was $157.2 million, up 11.8%.

    Avery sales decreased 11.6% to $140.4 million, with operating incomeof $21 million, down 34.6%.

    Checkpoint sales increased 8.9% to $168.7 million, with operating income of $25.4 million, up 109.9%.

    Innovia sales increased 13.7% to $163.7 million, with operating income of $19.5 million, up 25.8%.
     
     
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