Graphic Packaging Q1 2023 Earnings Report
Key Takeaways
Graphic Packaging Holding Company reported a strong first quarter in 2023, with net sales increasing by 9% to $2,438 million and net income increasing by 93% to $207 million. Adjusted EBITDA increased by 38% to $484 million, and the company raised its full-year 2023 Adjusted EBITDA guidance to $1.9 billion at the midpoint.
Net Sales increased 9% versus the prior year quarter to $2,438 million.
Net Income increased 93% versus the prior year quarter to $207 million.
Adjusted EBITDA increased 38% versus the prior year quarter to $484 million.
Full-year 2023 Adjusted EBITDA guidance increased by $100 million to $1.9 billion at the midpoint of the guidance range.
Graphic Packaging
Graphic Packaging
Forward Guidance
The Company is raising its Adjusted EBITDA guidance by $100 million, to $1.9 billion at the midpoint of the range, and updating other guidance metrics as a result.
Positive Outlook
- Net Sales are expected to be approximately $10 billion.
- Adjusted EBITDA is expected to be between $1.8 and $2.0 billion.
- Adjusted Cash Flow is expected to be between $600 and $800 million.
- Net Leverage Ratio at year-end is expected to be at or below 2.5x Adjusted EBITDA.
- Adjusted Earnings per Diluted Share (Excluding Amortization of Purchased Intangibles) is expected to be between $2.70 and $3.10.