After more than 100 years in business, MIDLAND has grown from a single Midwest location to one of the largest independent paper and packaging distributors in the United States. Headquartered in Wheeling, Illinois, MIDLAND provides value added solutions for the efficient distribution of printing and publication papers, packaging supplies and equipment, and facility supplies. Through experienced recommendations and intimate knowledge of these industries, the company helps clients find the best solution for their needs at the most competitive pricing in today’s ever-changing marketplace. MIDLAND focuses its attention on adding value to paper and packaging programs by using its strong mill relationships and expertise in paper, packaging, design, printing and mailing to help clients exceed their marketing and financial objectives. And when it comes to sustainability, MIDLAND’s commitment is evident in both principle and practice. “More and more, we see the current business climate driving our print and packaging customers to assess their impact on the planet,” says MIDLAND National President David Goldschmidt. “Companies turn to MIDLAND because they want a responsible supplier who conducts business ethically and can help them achieve their corporate sustainability goals.
- Reported revenue increased 8%; Adjusted revenue, excluding Engineering Solutions (ES), increased 11%.
- GAAP diluted EPS increased 27%, and adjusted diluted EPS increased 10% year over year.
- Revenue from Sustainability and Energy Transition products accelerated to 36% year-over-year growth excluding ES. Vitality revenue, which is revenue from new or enhanced products, increased 22% (ex-ES) and contributed 12% of reported revenue in Q3.
- Guidance raised for both GAAP diluted EPS and adjusted diluted EPS to reflect better-thanexpected performance year to date.
- Previously announced $500 million ASR has been completed and an additional $1.3 billion ASR to be launched in the coming weeks.
“Our third-quarter results clearly demonstrate our ability to adapt to rapidly evolving market conditions and consistently deliver excellent results. Revenue growth accelerated in every division. We continue to invest in innovation, as evidenced by the multiple product launches in the third quarter, and we continue to demonstrate the disciplined execution on expenses that our shareholders have come to expect. We are very pleased with the results this quarter, and look forward to a strong finish to 2023.” Douglas Peterson President and CEO
details at: https://s29.q4cdn.com/690959130/files/doc_financials/2023/q3/11/S-P-Global-3Q-2023-Earnings-Release-Exhibits-11-2-2023.pdf