Supremex Announces Results for the Second Quarter of 2024

Second Quarter Financial Highlights and Recent Events

  • Total revenue of $69.3 million, down 3.3% from $71.7 million in the second quarter of 2023.
  • Envelope segment revenue of $49.5 million, up 0.4% from $49.2 million in the prior year.
  • Packaging and specialty products segment revenue of $19.9 million, down 11.4% from $22.4 million last year.
  • Net earnings were $2.0 million, compared to $2.1 million last year.

“Continued strong free cash flow generation enabled Supremex to further reduce debt and repurchase shares during the second quarter,” said Stewart Emerson, President and CEO of Supremex. “Our envelope volume increased almost 10% from last year driven by successful initiatives to expand our reach in the vast U.S. market. In packaging, profitability improved significantly from prior quarters reflecting measures to optimize efficiency, however volume continues to lag. Although market recovery and business development initiatives are taking longer than anticipated, we are proactively managing our asset utilization and cost structure to foster efficiency and productivity gains across our network, as we continue to methodically execute our business strategy to create lasting value for shareholders.”
details at: https://supremex.com/wp-content/uploads/2024/02/SXP-Q2-2024-Press-Release-EN-final-2024-08-07.pdf

Related Posts

U.S. Newspaper, Book Printers Buying Canadian Uncoated Groundwood Are Up in Arms

A preliminary determination on Jan. 9 by the U.S. Department of Commerce to impose countervailing duties (CVD) ranging from 4.43% to 9.93% has U.S. newspaper, book and commercial printers that buy imported Canadian uncoated groundwood paper seeing red. That's because it will deliver a severe blow to their bottom lines due to what amounts to an average countervailing duty of 6.53%. In its investigation, the Commerce Department calculated a preliminary subsidy rate of 6.09% for Catalyst Paper, 9.93% for Kruger Trois-Rivieres, and 4.42% for Resolute Forest Products Canada. Click Read More below for additional information.

Quad Divests Its QuadExpress 3PL Logistics Business

Quad/Graphics, Inc. announced that it has sold its QuadExpress third-party logistics (3PL) business for $40 million to Mullen Group Ltd., one of Canada’s largest logistics providers. QuadExpress joins Mullen Group’s network of independently operated businesses that provide a broad range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized and specialized hauling transportation. The divestiture supports Quad’s established strategy to optimize its product and service portfolio and invest in those parts of its business that accelerate its position as a marketing solutions partner and create more value for its clients and other stakeholders. Quad continues to own and operate its in-house transportation and logistics division, Quad Transportation Services, and its trucking division, Duplainville Transport.

Copresco’s Steve Johnson Recognized for Editorial Excellence

Copresco President Steve Johnson was recognized in Folio Magazine’s Eddie & Ozzie Awards for his Johnson’s World monthly magazine column. Johnson received praise for editorial excellence in the Business-to-Business Media & Entertainment category. Johnson’s World now appears each month in print on the last page of WhatTheyThink’s Printing News magazine and online at WhatTheyThink.com. For more than 25 years, the Eddie & Ozzie Awards have recognized excellence in engaging content and gorgeous design across all sectors of the publishing industry. This year’s winners list features the crème de la crème of content creators and designers—a pool of roughly 300 winners narrowed down from thousands of entries.
Back To Top
×Close search
Search