Graphic Packaging Holding Company reports developments tied to its paper-based consumer packaging business, which serves food, beverage, foodservice, household and other consumer-product markets. Its updates commonly address operating and financial results, cash flow, capital allocation, dividend actions and capital-structure matters.
Company news also covers governance and leadership changes, board appointments, investor communications and sustainability initiatives. Recent themes include renewable electricity agreements, greenhouse-gas reduction programs and the company's global network of design and manufacturing operations across the Americas, Europe and Asia Pacific.
Graphic Packaging Holding Company (NYSE: GPK) reported Q2 2020 net sales of $1,611.0 million, a 4% increase from the prior year. However, net income decreased to $52.1 million from $63.8 million in Q2 2019, with earnings per diluted share at $0.19. Adjusted EBITDA fell to $260.0 million, down 3% year-over-year.
Despite challenges, the company reinstated guidance for full-year 2020, forecasting adjusted EBITDA between $1.05 billion and $1.09 billion. Available global liquidity stood at $1,412.9 million.
Graphic Packaging Holding Company (NYSE: GPK) will release its second quarter 2020 financial results on July 21, 2020, before the market opens. A conference call to discuss these results will occur at 10:00 a.m. ET. Participants can join via webcast or by telephone, with dialing instructions provided in the release. Additionally, the company has scheduled October 20, 2020, for the announcement of third quarter financial results. Graphic Packaging is a leader in paper-based packaging solutions for various consumer products.