Intertape Polymer Group Has Strong Organic Growth

Intertape Polymer Group Inc. had revenue of $367.7 million for the second quarter of 2021, an increase of 40.7 per cent compared to revenue in the second quarter of 2020. The increase was primarily due to organic growth in certain film, woven, and tape products, including strength in products with significant eCommerce end-market exposure such as water-activated tape and dispensing machines. Gross margin for the quarter increased to 23.7 per cent from 21.3 per cent in the year-ago quarter. Net earnings were $14.3 million, down $100,000 from the year-ago period, while adjusted net earnings increased $20.9 million to $33.7 million. Adjusted earnings before taxes were $65.7 million for the second quarter, up 60 per cent over $41 million in the year-ago period.