Latest news for Winpak (OTC:WIPKF) Stock

Winpak

WINPAK LTD

Winpak Ltd manufactures and sells a variety of packaging materials and related packaging machines. The packaging materials are used primarily for perishable foods, beverages, and healthcare applications. It operates in three segments: flexible packaging, rigid packaging & flexible lidding, and packaging machinery. The flexible packaging segment includes modified atmosphere packaging, specialty films, and biaxially oriented nylon product groups. The rigid packaging and flexible lidding segment include rigid containers, lidding, and specialized printed packaging product groups. The company's geographical segments include the United States, Canada, Mexico & others.

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Winpak Clocks 23% Revenue Growth In Q1

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Winpak Ltd

<ul>
	<li><strong>Winpak Ltd</strong>. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WPK#TSX">WPK</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WIPKF#OTC">WIPKF</a>) reported<a class="editor-rtfLink" href="https://www.newswire.ca/news-releases/winpak-reports-2022-first-quarter-results-839842690.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;first-quarter revenue growth of 22.8% year-over-year to $275.98 million</a>.</li>
	<li>Selling price and mix changes had a favorable effect on revenue of $51.4 million as the substantial increase in raw material and other costs throughout 2021 resulted in higher selling prices to customers.</li>
	<li>Gross margin expanded by 25 bps to 29.5%. Operating income improved 33.9% Y/Y to $45.91 million, and the margin expanded by 140 bps to 16.6%.</li>
	<li>EPS improved to $0.52 from $0.38 in 1Q21.</li>
	<li>EBITDA improved by 26.9%Y/Y to $57.82 million, and margin expanded by 70 bps to 21%.</li>
	<li>Winpak generated cash from operating activities of $23.49 million for the quarter, compared to $11.75 million a year ago. The company held cash and equivalents of $387.1 million.</li>
	<li>Although sales volume growth slowed during Q1, the company anticipates solid volume growth for the year&#39;s final three quarters, partly due to improved labor availability and the enhanced capability to supply lidding customers with the heightened aluminum foil purchases made during Q1.</li>
	<li>Winpak noted inflation continues to impact the company&#39;s overall cost structure significantly.</li>
	<li>Winpak forecasts capital expenditures for FY22 of $60 million - $70 million.</li>
	<li><strong>Price Action:&nbsp;</strong>WPK shares are trading lower by 0.97% at C$39.69 on TSX, and WIPKF is lower by 1.71% at $31.06 on the last check Tuesday.</li>
</ul>
 

BMO Capital   initiates coverage on Winpak (OTC:<a class="ticker" href="/stock/WIPKF#OTC">WIPKF</a>) with a Market Perform rating.

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BMO Capital Initiates Coverage On Winpak with Market Perform Rating

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 Winpak Declares Special C$1.00/Share Dividend

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