Operator

Good morning, and welcome to CCL Industries 2026 First Quarter Investor Update. Please note that there will be a question-and-answer session after the call. The moderator for today is Mr. Geoff Martin, President and Chief Executive Officer; and joining him is Mr. Sean Washchuk, Senior Vice President and Chief Financial Officer. Please go ahead, gentlemen.

Sean Washchuk
Senior VP & CFO

Good morning, everyone. Thank you, Holly. Here we are on our first quarter investor update. I'll draw everyone's attention to Slide 2. If I can advance the slide here. That's our disclaimer regarding forward-looking information. I'll let everyone note that our risks and uncertainties and opportunities are under our annual MD&A and our first quarter 2026 report, particularly under the section Risks and Uncertainties. Our annual and quarterly reports can be found online at the company's website, cclind.com or on sedarplus.ca.

Moving to our summary of financial results, Slide #3. For the first quarter of 2026, sales increased 2.8% with 1.9% organic growth, 0.3% acquisition-related growth and 0.6% positive impact from foreign currency translation, resulting in sales of $1.94 billion compared to approximately $1.89 billion in the first quarter of '25. Operating income was $317.5 million for the 2026 first quarter compared to $316.9 million for the first quarter of 2025, an improvement of 0.2%. Geoff will expand on the segmented