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Mar 31, 2024
Graphic Packaging Q1 2024 Earnings Report
Graphic Packaging's first quarter performance in 2024 saw a decrease in net sales and net income compared to the same period in 2023, while the company progressed with strategic initiatives like Vision 2030 and the sale of the Augusta facility.
Key Takeaways
Graphic Packaging Holding Company reported a decrease in net sales and net income for the first quarter of 2024 compared to the prior year period. Net sales decreased by 7% to $2,259 million, and net income decreased to $165 million. The company's Adjusted EBITDA margin was 19.6%.
Net Sales decreased to $2,259 million, compared to $2,438 million in the first quarter of 2023.
Net Income was $165 million, versus $207 million in 2023.
Adjusted EBITDA was $443 million, compared to $484 million in the prior year.
The company is on track to achieve 2% sales growth from innovation in 2024.
Forward Guidance
The Company updated 2024 financial guidance to reflect the expected contribution from the Augusta, Georgia bleached paperboard manufacturing facility and related bleached paperboard sales through the end of April. The midpoint of the guidance range has not changed except to reflect four months of Augusta contribution rather than twelve.
Positive Outlook
- Adjusted EBITDA: $1.73 billion to $1.83 billion
- Adjusted Earnings per Diluted Share: $2.65 to $2.85
Historical Earnings Impact
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Avg. Return Before/After Earnings
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