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

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