Cascades to Release Second Quarter 2025 Financial Results on August 7, 2025 Français
About Cascades
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The company employs approximately 9,600 women and men across a network of 66 operating facilities, including 17 Recovery and Recycling facilities which are part of Corporate Activities and joint ventures managed by the Corporation, in North America. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
SOURCE Cascades Inc.
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Boyd's management uses certain non-GAAP financial measures to evaluate the performance of the business and to reward employees. These non-GAAP financial measures are not defined in International Financial Reporting Standards ("IFRS") and should not be considered an alternative to net earnings or sales in measuring the performance of BGSI. The following is a reconciliation of BGSI's non-GAAP financial measures and ratios: ADJUSTED EBITDA Standardized EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are measures commonly reported and widely used by investors and lending institutions as an indicator of a company's operating performance and ability to incur and service debt, and as a valuation metric. They are also key measures that management uses to evaluate performance of the business and to reward its employees. While EBITDA is used to assist in evaluating the operating performance and debt servicing ability of BGSI, investors are cautioned that EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as reported by BGSI may not be comparable in all instances to EBITDA as reported by other companies. Three months ended June 30, Six months ended June 30, (thousands of U.S. dollars) 2025 2024 2025 2024 Net earnings $ 5,422 $ 10,826 $ 2,785 $ 19,207 Add: Finance costs 18,023 17,210 35,855 33,332 Income tax expense 2,851 4,215 2,561 7,362 Depreciation of property, plant and equipment 21,547 17,902 42,394 34,302 Depreciation of right of use assets 31,799 31,098 63,414 60,757 Amortization of intangible assets 6,868 6,824 13,548 13,383 Standardized EBITDA $ 86,510 $ 88,075 $ 160,557 $ 168,343 Add (deduct): Fair value adjustments — — 1 (7) Acquisition and transformational cost initiatives 7,276 1,501 13,773 2,947 Adjusted EBITDA $ 93,786 $ 89,576 $ 174,331 $ 171,283 Sales $ 780,407 $ 779,163 $ 1,558,730 $ 1,565,710 Adjusted EBITDA margin (%) 12.0 % 11.5 % 11.2 % 10.9 % ADJUSTED NET EARNINGS BGSI believes that certain users of financial statements are interested in understanding net earnings excluding certain fair value adjustments and other items of an unusual or infrequent nature that do not reflect normal or ongoing operations of the Company. This can assist these users in comparing current results to historical results that did not include such items. (thousands of U.S. dollars, except share and per share amounts) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net earnings $ 5,422 $ 10,826 $ 2,785 $ 19,207 Add (deduct): Fair value adjustments (non-taxable) — — 1 (7) Acquisition and transformational cost initiatives (net of tax) 5,384 1,111 10,192 2,181 Adjusted net earnings $ 10,806 $ 11,937 $ 12,978 $ 21,381 Weighted average number of shares 21,467,807 21,472,288 21,467,695 21,472,241 Adjusted net earnings per share $ 0.50 $ 0.56 $ 0.60 $ 1.00 SAME-STORE SALES Same-store sales is a non-GAAP measure that includes only those locations in operation for the full comparative period. Same-store sales is presented excluding the impact of foreign exchange fluctuation on the current period. Caution concerning forward-looking statements Statements made in this press release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like "may", "will", "anticipate", "estimate", "expect", "intend", or "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: decline in number of insurance claims; employee relations and staffing; acquisition and new location risk; operational performance; brand management and reputation; market environment change; reliance on technology; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; corporate governance; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; low capture rates; and energy costs and BGSI's success in anticipating and managing the foregoing risks. We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Risk Factors" section of BGSI's Annual Information Form, the "Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings. SOURCE Boyd Group Services Inc.
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