eCommerce Exposure Drives Polymer Group Revenue

Revenue for Intertape Polymer Group Inc. increased 10 per cent to $323 million for its third quarter ended September 30. The increase was primarily due to increased demand in products with significant eCommerce end market exposure including water-activated tape and protective packaging. Net earnings increased $14.2 million to $26.7 million primarily due to an increase in gross profit. “The pandemic has impacted businesses differently depending on the markets they serve. What is becoming clear to us, is the structural change underway in eCommerce. Increased demand in eCommerce and building and construction as well as a return to positive performance in most of our other end markets drove increased growth in both our top and bottom line results and our ability to generate cash flows,” says Greg Yull, its president and CEO. All results are compared to the same quarter in 2019.