News

Graphic Packaging Holding Reports Decline in Q3 Net Income and Sales

1 Mins read

By Rob Curran

Graphic Packaging Holding, an Atlanta-based maker of paperboard and other paper packaging materials, experienced a decrease in net income and sales in the third quarter. The drop was attributed to lower demand as customers worked through their inventory of packaging products.

Financial Performance

For the quarter ending in September, Graphic Packaging recorded earnings of $170 million, or 55 cents per share, compared to $193 million, or 62 cents per share, in the same period last year. Adjusted for certain one-time items, the company’s third-quarter profit stood at 74 cents per share, surpassing the average analyst estimate of 71 cents per share, according to FactSet data.

Sales Performance

Despite the better-than-expected adjusted profit, third-quarter sales declined by 4.2% to $2.35 billion. This figure fell short of the average Wall Street estimate of $2.47 billion.

Manufacturing Efficiency Measures

In a bid to improve manufacturing efficiency, Graphic Packaging announced its plans to close down its K3 coated recycled paperboard machine at its Kalamazoo plant in early October.


Related posts
News

Bitcoin surge triggers investment boom in Europe and America, investors flock to Mint Miner

3 Mins read
MintMiner MintMinerBest Forex Trading Robots For 2022 Get the latest news delivered to your inbox Sign up for The Manila Times newsletters…
News

Bitcoin Hits Record $113K as $575M in Shorts Get Liquidated - TokenPost

1 Mins read
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, soared to a new all-time high of $113,541 on the Bitstamp exchange at…
News

Govt enacts law to regulate VAs, plans pilot for digital currency - Daily Times

2 Mins read
The Virtual Assets Act, 2025 creates the Pakistan Virtual Asset Regulatory Authority (PVARA), a new autonomous regulator to supervise the virtual asset…

Leave a Reply

Your email address will not be published. Required fields are marked *