Winpak Reports 2024 Fourth Quarter Results

Net income attributable to equity holders of the Company (Earnings) for the fourth quarter of 2024 of $36.6 million increased by 5.1 percent from the $34.8 million recorded in the corresponding quarter in 2023. The improvement in gross profit was a key factor, elevating Earnings by $9.0 million. Conversely, higher operating expenses led to a contraction in Earnings of $2.4 million. In addition, foreign exchange lowered Earnings by $1.9 million. Furthermore, income taxes subtracted $1.1 million from Earnings. In combination, all other factors reduced Earnings by $1.8 million.

For the year ended December 29, 2024, Earnings advanced by 0.9 percent to $149.5 million from the comparable 2023 result of $148.1 million. The sizeable expansion in gross profit enhanced Earnings by $20.7 million. Operating expenses reduced Earnings by $10.8 million. Additionally, foreign exchange and income taxes dampened Earnings by $4.3 million and $3.4 million, respectively. In total, all remaining items lowered Earnings by $0.9 million.
details at: https://www.newswire.ca/news-releases/winpak-reports-2024-fourth-quarter-results-856492036.html

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