Transcontinental Inc. announces its results for the third quarter of fiscal 2021

Highlights:
*Strong growth in revenues and solid profitability in the Printing and Media Sectors.
*Revenues of $621.6 million for the quarter ended July 25, 2021; operating earnings of $50.2 million; and net earnings attributable to shareholders of the Corporation of $28.1 million ($0.32 per share).
*Adjusted operating earnings before depreciation and amortization(1) of $101.7 million for the quarter ended July 25, 2021; adjusted operating earnings(1) of $67.4 million; and adjusted net earnings attributable to shareholders of the Corporation(1) of $44.2 million ($0.51 per share).
*Released a Corporate Social Responsibility Progress Report presenting innovative projects related to its commitment to the circular economy for plastic and the reduction of the Corporation’s carbon footprint.
*Closed a private offering of $250 million senior unsecured notes due in July 2026 and bearing interest at 2.28%.
*Subsequent to quarter-end, extended the $400 million revolving credit facility until 2026 and added a sustainability-related component providing for a rate adjustment based on achieving targets linked to ESG factors, including diversity and reduction in greenhouse gas emissions.

Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the third quarter of fiscal 2021, which ended July 25, 2021.

“I’m satisfied with the operating profitability of our three sectors in the third quarter, said François Olivier, President and Chief Executive Officer of TC Transcontinental. Considering the short-term challenges presented by the rise in the price of resin, the reduction in the Canada Emergency Wage Subsidy and the exchange rate variation, we delivered good operating performance.

“In our Packaging Sector, our main engine of long-term growth, we continue to improve operating profitability and demand for our packaging products remains strong. We continue to secure significant and promising agreements with many customers, while our sustainable packaging products, which contribute to the circular economy for plastic, are gaining momentum. All of this bodes well for our growth outlook in the coming years.

“Our Printing Sector, while continuing to be impacted by the pandemic, posted strong organic growth in revenues and generated solid profitability as a result of the gradual reopening of the economy and our disciplined cost control. Our Media Sector had another excellent quarter with a significant increase in revenues and profitability.

“In terms of our community involvement, I am proud of our collaboration with the Government of Québec and Énergir as our vaccination centre, in the East end of Montréal, was able to administer over 30,000 doses of the COVID-19 vaccine while it was open, from May 26 to August 28, 2021. I want to thank the centre’s management team, healthcare personnel, volunteers as well as all other public and private partners who contributed to the success of this initiative.

“To conclude, our performance since the beginning of the fiscal year, combined with the solid foundations of our customer relationships and the development of sustainable products, as well as our solid financial position, allow us to pursue our growth strategy in each of our three sectors and look to the future with confidence.”
https://tctranscontinental.com/en-us/company-overview/news-room/press-releases/transcontinental-inc-announces-its-results-for-the-7

Related Posts

Xerox Releases Second-Quarter Results

Q2 2023 • Revenue of $1.75 billion, up 0.4 percent, or 0.5 percent in constant currency. • GAAP (loss) earnings per share (EPS) of $(0.41), down $0.36 year-over-year. • Operating cash flow of $95 million, up $180 million year-over-year. • Free cash flow of $88 million, up $186 million year-over-year.

Shutterfly Brings Joy and Gives More than $750,000 in Donations to Help Communities Amid COVID-19 Pandemic

Shutterfly Inc. announced its efforts to bring joy and much-needed resources to communities across America through its Shutterfly For Good platform. “Our business is built on connecting people and creating more from life’s moments; and in these challenging times, that is more important than ever,” said Jim Hilt, Shutterfly president. “It’s been incredible to see how communities around the globe are coming together to lift one another up. At Shutterfly, we believe we have a responsibility to help amplify these efforts and shine a light on the good in the world, today and every day. We’re very happy to have a platform to do that through Shutterfly For Good. click read more below for details

Hudson Printing Showcases Landa S10P During Open House, Announces Second S10P Installation (piworld.com)

With the backdrop of snow-capped mountains in the distance, customers of Hudson Printing in Salt Lake City entered the commercial printer's 120,000-sq.-ft. facility on May 5 for its first-ever open house. The event was intended to give attendees a tour of the facility, as well as a peek at the company's new Landa S10P nanographic printing press with perfector, which has been up and running since November 2021. Although seeing the Landa S10P running in person was a major draw during the event, Hudson Printing also announced that the 113-year-old company would in fact be installing a second Landa S10P later this year. Paul Hudson, CEO of Hudson Printing, explained that the company does a large amount of personalization printing, an area in which the Landa press has proven to be a success.
Back To Top
×Close search
Search