Winpak (WPK) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was $284.8 million, up 2.9% year-over-year; net income was $34.4 million, down 3.7% from Q1 2024.

• Gross profit increased to $88.5 million, with a gross margin of 31.1% compared to 31.1% in Q1 2024.

• Cash and cash equivalents decreased to $356.5 million from $497.3 million at year-end 2024.

Financial highlights

• Operating income rose to $44.5 million from $43.2 million year-over-year.

• Basic and diluted EPS was 56 cents, compared to 55 cents in Q1 2024.

• Net cash from operating activities was $26.2 million, down from $68.0 million in Q1 2024.

• Dividends of 5 cents per share and a special dividend of $3.00 per share were paid in Q1 2025.

• 434,996 shares were repurchased for cancellation at a cost of US$13.7 million.

Outlook and guidance

• Management expects sufficient cash flows to cover operations, capital expenditures, share repurchases, and dividends over the next 12 months.

• No early adoption planned for IFRS 18 or amendments to IFRS 9/7; no significant impact expected from future accounting standards.