CCL Industries earnings date
CCL Industries (CCLBN) Q3 2026 Earnings Report
MX:CCLBN Q3 2026 EPS Results
- Actual EPS
- MXN 17.75
- Consensus EPS
- MXN 17.22
- Beat/Miss
- Beat by +MXN 0.52
- One Year Ago EPS
- MXN 15.79
MX:CCLBN Q3 2026 Revenue Results
- Actual Revenue
- MXN 28.97B
- Expected Revenue
- MXN 27.54B
- Beat/Miss
- Beat by +MXN 1.42B
- YoY Revenue Growth
- +12.92%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/10/2026
- Time
- After Close
- Conference Call
- Tuesday, November 10, 2026
CCL Industries's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by 12.9% third-quarter sales growth, double-digit adjusted EPS growth, strong organic performance in several businesses, continued shareholder returns, solid liquidity, and favorable results in Avery, Checkpoint, and parts of CCL and Innovia. The main challenges were memory-chip shortages affecting CCL Design, margin pressure from aluminum pass-through and a difficult CCL Secure comparison, European destocking, higher finance and tax costs, lower quarterly free cash flow, and higher net debt. Management nevertheless described the balance sheet as strong and maintained a constructive view of several businesses and the M&A environment.
Capital spending was $302 million through Q3 versus the $470 million planned for 2026, with an estimate that the company will undershoot by something in the range of $30 million to $50 million; 2027 capital spending is expected to be in the neighborhood of $400 million, give or take. For Q4, CCL label businesses in home and personal care, health care, and food and beverage are stable, while CCL Design and its customers will be further impacted by the memory chip supply crisis; some customers say it is likely to continue for a few quarters into next year, with some chip supply products expected to become available in 2027. Avery and Checkpoint face strong comps, Innovia should see similar demand patterns as Q3, December’s a very short month, RFID growth is continuing, European destocking effects will continue, and FX should be another plus in the coming quarter.
- Strong Third-Quarter Sales GrowthThird-quarter sales increased 12.9% to $2.22 billion from approximately $1.97 billion, consisting of 6.9% organic growth, 3.9% acquisition-related growth, and a 2.1% positive impact from foreign currency translation.
- Operating Income and EBITDA ImprovementOperating income increased to $356.3 million from $321.8 million, an improvement of approximately 8% excluding currency translation. Excluding $2 million of noncash acquisition accounting adjustments related to fair-valued inventory from the Sliver transaction, operating income improved 11.3%. Consolidated EBITDA, excluding foreign currency translation, increased 8% year over year.
- Higher Net Earnings and Adjusted EPSThird-quarter net earnings increased to $223.6 million from $210.8 million. Basic and adjusted basic earnings per Class B share were $1.28 and $1.36, respectively, compared with $1.21 for both measures in the prior-year quarter. Adjusted basic EPS increased 12.4%, primarily reflecting a $0.12 per-share contribution from improved operating income and a $0.04 positive foreign currency impact, partially offset by higher income tax, net finance costs, and corporate expenses totaling $0.05 per share.
- Positive Nine-Month PerformanceFor the first nine months of 2026, sales, operating income, and net income increased 7%, 5%, and 2%, respectively, excluding currency translation. The period included results from four acquisitions completed since January 1, 2025, with 2% acquisition-related sales growth, 4.6% organic growth, and a 1.7% foreign currency translation tailwind.
- Strong CCL Organic Growth and Profitability GainsThe CCL segment delivered very strong organic growth, including high single digits in North America and Europe, mid single digit growth in Latin America, and low single digit growth in Asia Pacific. Profitability gains were reported in health care and especially food and beverage, while the label side of home and personal care also produced solid results.
- Avery Direct-to-Consumer Growth and Back-to-School ExecutionAvery recorded strong organic growth in its direct-to-consumer product line, particularly in the United States. Direct-to-consumer growth was described as high single digit, and the North American back-to-school season was very smooth, without many of the issues and challenges faced in the third quarter of last year.
- Checkpoint and RFID ProgressCheckpoint's MAS merchandise availability business had a solid quarter despite difficult comparisons from large retailer technology rollouts in the prior year. The apparel label business improved as industry models began to modestly recover, while RFID growth continued. Inlay production increased low double digits, and the RFID business was described as up from last year.
- Innovia Sales Growth and Market-Share GainsInnovia sales increased 24%, with approximately half of the change driven by volume and the other half by price and mix. Poland continued to gain share, other label films growth was strong, performance in the Americas was very good, and internal productivity initiatives improved the profitability mix.
- Sliver Performance Tracking ExpectationsAlthough it is still early in the Sliver integration, management said the underlying financial performance was pretty much in line with expectations. The company has taken actions to cut costs in a number of areas and said it was so far pretty pleased with the results.
- Strong Shareholder ReturnsThrough September 30, 2026, the company repurchased 5.7 million shares for $508.1 million and paid $184 million in dividends, including the 12.5% increase in the 2026 annual dividend announced in February. An additional 1.3 million shares were repurchased for $128.1 million from October 1 through the day before the call, bringing total year-to-date shareholder returns to $692.1 million. The company expects more to be returned to shareholders while its automatic share repurchase plan remains active.
- Strong Liquidity and Balance-Sheet PositionManagement said the balance sheet closed the quarter in a strong position. Liquidity included US$0.7 billion of undrawn debt capacity and $1 billion of cash on hand. The company also accessed a $500 million delayed-draw syndicated term loan on October 1 to repay US$500 million of bonds that matured on that date.
- Limited Consumer Trade-Down ImpactManagement reported little impact from consumer trade-down behavior across most of the business. Home and personal care was not materially affected, and some European private-label food and beverage customers supplying retailers such as Aldi were performing well.
- Improved M&A Market ConditionsManagement said private-equity multiples for small transactions in the industry had come down as interest rates increased, with double-digit multiples relaxing. The company remains a disciplined buyer with an appetite for acquisitions and noted that the Sliver transaction was purchased at a price that would not have been possible under market conditions two or three years earlier.
- Stable Core Demand and Continued RFID Growth OutlookFor the coming quarter, orders in CCL's home and personal care, health care, and food and beverage label businesses were described as stable. RFID growth was expected to continue with good results in the Americas, and foreign currency was expected to be another positive in the coming quarter.
- Ongoing Capital InvestmentThe company spent $302 million on capital expenditures through the third quarter and expects 2027 capital expenditures to be in the neighborhood of $400 million, give or take, subject to the ongoing budget process.
MX:CCLBN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 15.80- | 13.44 | ― | ― |
| Nov 10, 2026 | 2026 (Q3) | 17.2217.75 | 15.79 | 12.40% (+1.96) | |
| Aug 12, 2026 | 2026 (Q2) | 16.2817.62 | 15.92 | 10.66% (+1.70) | |
| May 13, 2026 | 2026 (Q1) | 15.2515.66 | 15.4 | 1.69% (+0.26) | |
| Feb 25, 2026 | 2025 (Q4) | 14.1613.44 | 13.31 | 0.98% (+0.13) | |
| Nov 11, 2025 | 2025 (Q3) | 15.1415.79 | 14.22 | 11.01% (+1.57) | |
| Aug 13, 2025 | 2025 (Q2) | 14.9915.92 | 14.75 | 7.96% (+1.17) | |
| May 07, 2025 | 2025 (Q1) | 14.1815.40 | 13.96 | 10.28% (+1.44) | |
| Feb 19, 2025 | 2024 (Q4) | 12.9713.31 | 12.66 | 5.15% (+0.65) | |
| Nov 13, 2024 | 2024 (Q3) | 14.3414.22 | 12.4 | 14.74% (+1.83) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
