Transcontinental Announces Financial Results for Second Quarter of Fiscal 2017

Transcontinental (TSX:TCLA) has announced its financial results for the second quarter of fiscal 2017.
As quoted in the press release:

“We had a very satisfying quarter that reflects once again the soundness of our strategy, and we diligently continue the transformation of the Corporation”, said François Olivier, President and Chief Executive Officer of TC Transcontinental.
“In the printing division, the results of our retailer-related services were solid, and we began to provide the new services under the terms of the expanded agreement with Lowe’s Canada. Within our packaging activities, we continued to generate organic growth and develop our North American sales force. In addition, we successfully completed the integration of Flexstar Packaging. As for the Media Sector, the announcement of a process to sell our local newspapers is a turning point in our transformation. This ongoing process generates considerable interest in all the markets where we are present.”
“With our excellent financial position and our significant cash flows, we are continuing to focus on our transformation. We are well positioned to ensure our growth and remain very active in our acquisition-based approach to building our North American flexible packaging platform.”

Financial Highlights
(in millions of dollars, except per share amounts)	Q2-2017		Q2-2016		Variation in %	SIX MONTHS 2017		SIX MONTHS 2016		Variation in %
Revenues	$	498.7	$	497.2	0.3	%	$	1,002.3	$	996.1	0.6	%
Operating earnings before depreciation and amortization (EBITDA)	94.2	43.2	N.M.	183.2	121.6	50.7
Adjusted operating earnings before depreciation and amortization(Adjusted EBITDA)(1)	90.1	83.1	8.4	178.0	167.0	6.6
Operating earnings (EBIT)	67.8	16.3	N.M.	130.2	67.9	91.8
Adjusted operating earnings (Adjusted EBIT)(1)	63.7	56.2	13.3	125.0	113.3	10.3
Net earnings	46.4	5.4	N.M.	89.1	42.7	N.M.
Net earnings per share	0.60	0.07	N.M.	1.15	0.55	N.M.
Adjusted net earnings(1)	42.5	34.2	24.3	83.8	75.6	10.8
Adjusted net earnings per share(1)	0.55	0.44	25.0	1.08	0.97	11.3

Click here to read the full press release.