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Mar 31, 2020
Graphic Packaging Q1 2020 Earnings Report
Reported first quarter 2020 results, actively kept employees safe, served customers in current COVID-19 environment, and accelerated strategic actions.
Key Takeaways
Graphic Packaging Holding Company reported a strong start to 2020 with a 6.2% increase in net sales to $1,599.1 million and positive net organic volume growth of 5%. Net income was ($12.7) million, impacted by a net $103.9 million of special charges. The company is suspending annual Adjusted EBITDA and cash flow guidance due to the COVID-19 crisis.
Net Sales were $1,599.1 million versus $1,505.9 million in the prior year period.
Net Income was ($12.7) million versus $57.9 million in the prior year period, including a net $89.7 million non-cash charge related to the settlement of a U.S. pension plan.
Adjusted Earnings per Diluted Share were $0.31 versus $0.21 in the prior year period.
Adjusted EBITDA was $294.8 million versus $259.7 million in the prior year period, driven by positive net organic volume growth of 5% and solid productivity.
Forward Guidance
The company has decided to suspend their annual Adjusted EBITDA and cash flow guidance to allow time to assess potential shifts in consumer behavior and spending patterns related to the COVID-19 crisis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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