Graphic Packaging posts worse-than-expected Q3 results, guidance

NEW YORK - Graphic Packaging (NYSE:GPK ) Holding Company (NYSE:GPK) reported third quarter earnings that fell short of analyst expectations, while also reducing its guidance for the full year 2024.

The packaging solutions provider announced third quarter adjusted earnings per share of $0.64, missing the analyst consensus of $0.67 by $0.03. Revenue for the quarter came in at $2.22 billion, below the $2.27 billion analysts had projected.

Looking ahead, Graphic Packaging (NYSE:PKG ) updated its financial guidance for 2024. The company now expects full-year Adjusted EBITDA to be between $1.68 billion and $1.73 billion. Additionally, it forecasts earnings per share for fiscal year 2024 to range from $2.49 to $2.61, below the current analyst consensus of $2.65.

"While we faced some headwinds in the third quarter, we remain focused on delivering value to our customers and shareholders," said Michael Doss, President and CEO of Graphic Packaging. "We are taking proactive steps to align our operations with current market conditions."

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Source: Investing.com