Wildpack Announces Q3 2022 Financial Results and Closing of the Previously Announced US$1M Non-Brokered Private Placement
Third Quarter 2022 Highlights:Q3 2022 Sales grew 16% to $8.17 million compared to $7.07 million in Q3 2021.Production volume for Q3 grew 76% to 43.73 million cans compared to 24.86 million cans in Q3 2021.Filling division completed upgrades to the …
Third Quarter 2022 Highlights:
- Q3 2022 Sales grew 16% to $8.17 million compared to $7.07 million in Q3 2021.
- Production volume for Q3 grew 76% to 43.73 million cans compared to 24.86 million cans in Q3 2021.
- Filling division completed upgrades to the Las Vegas Facility production line, this upgrade and the planning for a future upgrade at the Longmont Facility constrained production.
- Printing division expanded offering by adding matte & spot-matte capabilities.
- Decorating division achieved greater than 95% production yields.
- Brokerage services signed supply contract with Ball Corporation, decreasing cost and ensuring domestic can supply.
- EHPlabs contract to provide decorating, filling and brokerage services beginning in Q4 and throughout 2023. The largest full-service customer to-date.
- Wildpack announced a its largest Printed Can customer, which commenced in August 2022. The agreement spans the remainder of 2022 and 2023 with an option to extend.
- Average plant utilization of 18%.
- 2.4x increase in monthly confirmed customer orders July to September 2022.
First Nine Months of 2022 Highlights:
- Sales revenue for the nine months of 2022 grew 18% to $25.61 million, from $21.64 million in the first nine months of 2021.
- Production volume grew 136% to 139.37 million cans, from 59.04 million cans in the first nine months of 2021.
Highlights in the Period following the Third Quarter:
- Average plant utilization of 28% in the first 3-weeks of November 2022.
- 3.4x increase in monthly confirmed customer orders July 2022 to today.
VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Wildpack Beverage Inc. (TSXV:CANS)(OTCQB:WLDPF) ("Wildpack" or the "Company") a U.S. national beverage co-packer and packaging supplier focused on the aluminum can format, announces unaudited financial results for the third quarter ("Q3") ending September 30, 2022. All currencies referenced herein are US Dollars, unless otherwise indicated.
"We launched Wildpack with an aggressive expansion strategy knowing that scale would bring significant competitive advantages and would enhance our value proposition with our customers," commented Mitch Barnard, Chief Executive Officer. "In the face of unprecedented supply chain shock, the uncertainty of a pandemic, inflation and now a potential recession, I am pleased that we have been able to combine product offering, domestic can supply, a national footprint and an incredibly resilient team that has seen new customer acquisitions rise for 3 consecutive months."