Recent Quarterly Results
Q3-2024 Earnings Call Presentation
Q3-2024 Supplemental Segmented Information
Transcontinental Inc. Announces Results for the Third Quarter of Fiscal Year 2024
Montréal, September 11, 2024 - "I am satisfied with the increase in our results in both the Packaging Sector and the Retail Services and Printing Sector," said Thomas Morin, President and Chief Executive Officer of TC Transcontinental. "This fourth consecutive quarter of improvement in our profitability is the results of our cost reduction initiatives, including the optimization of our manufacturing network, as well as our efforts to market higher value-added products.
"In our Packaging Sector, despite the ongoing pressure on our medical market activities, we experienced a modest increase in volume. Our cost reduction initiatives, combined with volume growth, contributed to a solid increase of 20.6% in adjusted operating earnings before depreciation and amortization.
"In our Retail Services and Printing Sector, we posted a 12.4% increase in adjusted operating earnings before depreciation and amortization. As in the previous quarter, the actions taken to improve our cost structure, a more favourable product mix, including the roll-out of raddar™, as well as growth in our in-store marketing activities, have shown results."
"The implementation of our two-year program aimed at improving our profitability and our financial position is proceeding in accordance with the objectives announced in December 2023," added Donald LeCavalier, Executive Vice President and Chief Financial Officer of TC Transcontinental. We remain on track to generate annual recurring savings of approximately $30 million by the end of fiscal 2024. Our ability to generate significant cash flows enables us to reduce our net indebtedness and improve our balance sheet while allocating capital to our share repurchase program."
Financial Highlights
