Haremar is fighting to fill the talent pipeline (canadianplastics.com)

Second Quarter 2022 Summary *Reported sales grew 4% and net income increased 15% to $64 million *Core sales increased 10% and adjusted EBITDA increased 8% to $160 million *Reported earnings per share increased 17% to $0.95 compared to $0.81 in the prior year *Adjusted earnings per share increased 13% to $0.96 compared to $0.85 in the prior year (including comparable exchange rates) *Each segment achieved sales growth through improved volume as well as increased pricing, with Pharma and Beauty + Home segments reaching double-digit core sales growth

Pregis celebrated production start-up at its new $80 million blown film extrusion facility in Anderson, South Carolina with a ribbon cutting attended by Governor Henry McMaster and industry partners. “We congratulate Pregis on this $80 million investment that will create 120 new jobs within the Anderson County community. We wish them great success in the Palmetto State and look forward to seeing them grow and prosper for a long time,” said Governor McMaster. Headed by industry veterans, the 168,000 square foot facility features multiple newly-installed lines, producing the latest engineered films. The films are used downstream to manufacture performance-oriented, flexible packaging solutions for food, CPG, healthcare/medical and industrial applications. The facility will also feature a world-class film laboratory to develop and test materials.

Net sales of $1.1 billion increased 3.0% on an as reported basis. Currency had a negative impact on total net sales of 0.7%, or $7 million. As reported, net sales in North America increased 9%. Asia Pacific declined 2% while Latin America and EMEA declined 4% each. Net income from continuing operations on a reported basis was $29 million, or $0.14 per diluted share, as compared to net income from continuing operations of $2 million, or $0.01 per diluted share, in the second quarter 2016. Net income in the second quarter 2017 was unfavorably impacted by $40 million of special items, including $18 million of tax expense and $18 million of charges related the pending sale of Diversey. Special items negatively impacting the second quarter of 2017 also included costs incurred related to the sale of Diversey, and restructuring and other restructuring associated costs. Net income in the second quarter 2016 included $72 million of special items, including charges related to ceasing operations in Venezuela, restructuring charges and other costs associated with our restructuring programs, and a loss on the remeasurement of our Venezuelan subsidiaries. Click Read More below for additional detail.