SupremeX Announces Results for the First Quarter of 2024

First Quarter Financial Highlights and Recent Events

  • Total revenue of $73.3 million, down from $88.4 million in the first quarter of 2023, but up sequentially from $72.3 million in the fourth quarter of 2023.
  • Envelope segment revenue of $53.4 million, versus $64.5 million a year ago and $50.6 million three months ago.
  • Packaging and Specialty Products segment revenue of $19.8 million, versus $24.0 million last year and $21.7 million in the fourth quarter of 2023.
  • Net earnings of $3.5 million, or $0.14 per share, versus $9.5 million, or $0.37 per share, in the first quarter of 2023, and $0.7 million, or $0.03 per share in the fourth quarter of 2023.

“The first quarter of 2023 was a record revenue and adjusted EBITDA quarter for Supremex. We are encouraged with our first quarter performance, highlighted by sequential increases in adjusted EBITDA and net earnings from the fourth quarter of 2023,” said Stewart Emerson, President and CEO of Supremex. “Our envelope business generated a solid adjusted EBITDA margin, while our recent acquisition in the U.S. Midwest should offer opportunities to expand our market reach and rapidly achieve synergies. In packaging, we are gaining momentum in the food market and overall efficiency continues to gradually improve, although volume growth remains modest. Looking ahead, our healthy balance sheet and solid cash flow generation provide us with the flexibility to pursue strategic initiatives that create shareholder value, while continuing to methodically pay down debt, pay dividends and repurchase our shares.”
details at: https://supremex.com/wp-content/uploads/2024/05/SXP-Q1-2024-Press-Release-EN-2024-05-08-FINAL.pdf

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