The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: I just -- you gave some good color on the CCL outlook. I was just wondering if -- would you characterize -- you talked about October being okay.
Would you characterize the movements being similar to how they were in Q3 by segment in terms of ...
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: That's helpful. In the past, you've been able to quantify kind of -- when CCL was lumpy, you didn't ever to quantify what the impact has been within
the quarter. Are you able to do that for Q3?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
:
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay, okay. And then maybe just finally, you made an interesting comment on Checkpoint with respect to growth in RFID. And I know that's a
smaller business that you've always sort of driven an R&D engine with. Are you seeing more RFID adoption in the pandemic? Or do you think you'll
see more adoption coming out of the pandemic?
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Great quarter. Yes, great quarter. Impressive time to put up a record quarter. So I'd say good for you. I just want to follow up on, I guess, some of
the questions. I appreciate, again, October sounds like it was trending well. I appreciate. I guess I'm just trying to get a sense sort of real time, like
there's a lot of happening, thinking about Europe and sort of lockdowns in other economies. Is there anything to speak to? Again, I appreciate it's
only a few weeks into November. But anything sort of to speak to materially just on a ...
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Sure.
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Sure, sure. I appreciate that. Just a follow-up on to Walter's question, just on, again, the costs and the efficiencies. Is there anything to sort of speak
to in terms of structural cost renewals? Or...
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: No, okay.
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NOVEMBER 13, 2020 / 12:30PM, CCLb.TO - Q3 2020 CCL Industries Inc Earnings Call
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay, okay. Maybe just one last one. And this one, I don't know, maybe it's more difficult, but there's a lot of different moving parts to the business.
And just holistically, like would there still be sort of 20, 25-ish percent of your business sort of still down materially because of the pandemic? I'm
just sort of trying to think about next year a little bit and sort of what might come back and sort of...
Question: Mark Neville - Scotiabank Global Banking and Markets, Research Division - Analyst
: Yes, sure. Understood. And again, very impressive quarter.
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: I just had one follow-up question for you, Geoff. You talked a lot about -- you talked a little bit about M&A and how you have attractive M&A
opportunities across all the portfolios. Has the M&A backdrop changed at all? Sounds as though you're not seeing any distressed sellers, certainly
on the label side. But I'm just curious, has the ability to do M&A improved with economies opening back up, notwithstanding the second wave
that we're seeing right now?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: And I guess it would be safe to assume that until travel opens up, acquisitions would be similar to the ones that you've done more tuck-in related?
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