IPG has revised its expectations for fiscal 2021 due to strong demand and the order backlog experienced to date.
Intertape Polymer Group Inc. (IPG) recently released results for its second quarter ended June 30, 2021. The company’s revenue for the quarter increased 40.7% compared to the 2020 second quarter, reaching $376.7 million. According to IPG, results were primarily due to organic growth in certain film, woven, and tape products, including continued strength in products with significant ecommerce end-market exposure such as water-activated tape and dispensing machines.
“It was another outstanding quarter with demand driving robust growth in revenue, adjusted net earnings and adjusted EBITDA,” said Greg Yull, president and CEO. “We continue to experience strong organic growth into August led by the categories where we have made investments in capex and acquisitions, like water-activated tape, protective packaging, wovens and carton sealing tapes. While the supply chain environment remains volatile in terms of pricing and consistency of supply, we continue to effectively cover the dollar contribution spread between selling price and raw materials plus freight.”