Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Graphic Packaging (GPK) , which belongs to the Zacks Containers - Paper and Packaging industry, could be a great candidate to consider.This packaging company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 5.74%.For the last reported quarter, G ...

Graphic Packaging (GPK) ended the recent trading session at $28.67, demonstrating a -1.75% swing from the preceding day's closing price. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.Prior to today's trading, shares of the packaging company had gained 14.52% over the past month. This has outpaced the Industrial Products sector's gain of 6.47% and the S&P 500's gain of 3.32% in that time.Marke ...

Graphic Packaging (GPK) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this packaging company have returned +14.5%, compared to the Zacks S&P 500 composite's +3.3% change. During this period, the Zacks Containers - Paper and Packaging industry, which Graphic Packaging falls in, has gained 5.7%. The key question now is: What could be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or Atlanta, Georgia 30328 (Address of principal executive of ices) (Zip Code) (770) 240-7200 Registrant's telephone number, including area code: Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered ☐ TRANSITION R ...

[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) The company demonstrated strong profitability growth and balance sheet improvement in 2023, despite sales challenges, and provided a positive outlook for 2024 [Fourth Quarter and Full Year 2023 Highlights](index=1&type=section&id=Fourth%20Quarter%20and%20Full%20Year%202023%20Highlights) The company achieved strong profitability growth in Q4 and FY2023, with increased Net Income and Adjusted EPS, improved leverage, and anticipates positive organic sales growth in 2024 Q4 & Full Year 2023 Earnings Summary | Metric | Q4 2023 | Q4 2022 | Full Year 2023 | Full Year 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $196 million | $156 million | $723 million | $522 million | | **Diluted EPS** | $0.64 | $0.50 | $2.34 | $1.69 | | **Adjusted Net Income** | $230 million | $181 million | $899 million | $722 million | | **Adjusted Diluted EPS** | $0.75 | $0.59 | $2.91 | $2.33 | Full Year 2023 Key Financial Metrics | Metric | 2023 Value | YoY Change | | :--- | :--- | :--- | | Net Sales | $9,428 million | Flat | | Net Income | $723 million | +39% | | Adjusted EBITDA | $1,876 million | +17% | | Earnings per Diluted Share | $2.34 | +38% | | Adjusted EPS | $2.91 | +25% | | Year-end Net Leverage | 2.8x | from 3.2x | - CEO Michael Doss highlighted that despite a **4% negative organic sales growth** due to inventory normalization, the company executed well, expanded profitability, and achieved over **$200 million in innovation sales**. The company is positioned for a **return to positive organic sales growth in 2024**[6](index=6&type=chunk) [Operating Results](index=2&type=section&id=Operating%20Results) Full year 2023 Net Sales remained flat due to pricing offsetting volume declines, while Adjusted EBITDA significantly increased to $1.876 billion, driven by strong pricing and favorable net performance despite lower volumes - Q4 2023 Net Sales decreased **6%** to **$2,249 million**, driven by a **$198 million** unfavorable volume/mix impact, partially offset by **$40 million** in positive pricing[8](index=8&type=chunk) - Full year 2023 Net Sales were **flat** at **$9.428 billion**, as **$556 million** in positive pricing was offset by **$580 million** in unfavorable volume/mix[9](index=9&type=chunk) - Q4 2023 Adjusted EBITDA rose to **$457 million** from **$413 million** in Q4 2022. The increase was primarily due to positive pricing ($40 million) and favorable net performance ($90 million), which offset unfavorable volume/mix ($64 million) and inflation ($38 million)[10](index=10&type=chunk) - Full year 2023 Adjusted EBITDA increased to **$1.876 billion** from **$1.600 billion** in 2022. The growth was driven by positive pricing ($556 million) and favorable net performance ($75 million), partially offset by unfavorable volume/mix ($171 million) and inflation ($169 million)[11](index=11&type=chunk) [Financial Position and Other Results](index=2&type=section&id=Financial%20Position%20and%20Other%20Results) The company strengthened its balance sheet in 2023 by reducing net debt and improving its leverage ratio to 2.8x, while increasing capital expenditures to $804 million and maintaining strong liquidity of $1.43 billion - Total Net Debt decreased by **$228 million** during Q4 2023 to **$5.234 billion**, and the **Net Leverage Ratio improved to 2.8x** Adjusted EBITDA from **3.0x** at the end of Q3 2023[12](index=12&type=chunk) - The company returned **$48 million** to stockholders in Q4 2023, comprising **$31 million** in dividends and **$17 million** in share repurchases[12](index=12&type=chunk) - Full year 2023 capital expenditures increased to **$804 million** from **$549 million** in 2022, largely due to the Waco, Texas recycled paperboard manufacturing facility project[14](index=14&type=chunk) - As of December 31, 2023, the company had available liquidity of approximately **$1.433 billion**[13](index=13&type=chunk) [Full Year 2024 Guidance](index=2&type=section&id=Full%20Year%202024%20Guidance) Graphic Packaging projects full year 2024 Adjusted EBITDA between $1.75 billion and $1.95 billion and Adjusted EPS between $2.50 and $3.00, excluding the impact of the Augusta facility sale Full Year 2024 Guidance | Metric | Guidance Range | | :--- | :--- | | Adjusted EBITDA | $1.750 billion to $1.950 billion | | Adjusted Earnings per Diluted Share | $2.50 to $3.00 | - The provided 2024 guidance excludes the potential impact of the announced sale of the Augusta paperboard manufacturing facility[16](index=16&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's detailed consolidated financial statements, including the statements of operations, balance sheets, and cash flows for the reported periods [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the full year 2023, Net Sales remained stable at $9.43 billion, while Income from Operations grew to $1.17 billion and Net Income increased by 39% to $723 million due to cost controls Full Year Statement of Operations Summary (in millions) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Net Sales | $9,428 | $9,440 | | Cost of Sales | $7,311 | $7,610 | | Income from Operations | $1,174 | $906 | | Net Income | $723 | $522 | | Net Income Per Share - Diluted | $2.34 | $1.69 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of December 31, 2023, Total Assets increased to $11.18 billion, primarily from property, plant, and equipment, while Total Shareholders' Equity grew over 29% to $2.78 billion Year-End Balance Sheet Summary (in millions) | Line Item | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total Current Assets | $2,845 | $2,706 | | Property, Plant and Equipment, Net | $4,992 | $4,579 | | **Total Assets** | **$11,175** | **$10,328** | | Total Current Liabilities | $2,589 | $1,933 | | Long-Term Debt | $4,609 | $5,200 | | **Total Liabilities** | **$8,393** | **$8,178** | | **Total Equity** | **$2,782** | **$2,150** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the full year 2023, Net Cash Provided by Operating Activities was $1.14 billion, while Net Cash Used in Investing Activities more than doubled to $1.03 billion due to increased capital spending Full Year Statement of Cash Flows Summary (in millions) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $1,144 | $1,090 | | Net Cash Used in Investing Activities | $(1,025) | $(435) | | Net Cash Used in Financing Activities | $(106) | $(666) | | Net Increase (Decrease) in Cash | $12 | $(22) | [Reconciliation of Non-GAAP Financial Measures](index=8&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section provides reconciliations of non-GAAP financial measures, including Adjusted EBITDA, Net Debt, Adjusted Cash Flow, and Net Organic Sales Growth, to their most directly comparable GAAP measures [Reconciliation of EBITDA and Adjusted EBITDA](index=8&type=section&id=Reconciliation%20of%20EBITDA%20and%20Adjusted%20EBITDA) For full year 2023, Net Income of $723 million was reconciled to an Adjusted EBITDA of $1.88 billion, with the Adjusted EBITDA margin significantly expanding to 19.9% from 16.9% in 2022 Full Year Reconciliation of Net Income to Adjusted EBITDA (in millions) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Net Income | $723 | $522 | | Interest, Taxes, D&A, etc. | +$1,072 | +$947 | | **EBITDA** | **$1,795** | **$1,469** | | Special Charges | +$81 | +$131 | | **Adjusted EBITDA** | **$1,876** | **$1,600** | | **Adjusted EBITDA Margin** | **19.9%** | **16.9%** | [Reconciliation of Net Debt and Leverage Ratio](index=9&type=section&id=Reconciliation%20of%20Net%20Debt%20and%20Leverage%20Ratio) The company's Net Leverage Ratio significantly improved to 2.79x at year-end 2023 from 3.21x in 2022, driven by a 17% increase in Adjusted EBITDA despite a slight rise in Total Net Debt Net Leverage Ratio Calculation | Metric | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total Net Debt | $5,234 million | $5,133 million | | Adjusted EBITDA (LTM) | $1,876 million | $1,600 million | | **Net Leverage Ratio** | **2.79x** | **3.21x** | [Reconciliation of Cash Flow](index=9&type=section&id=Reconciliation%20of%20Cash%20Flow) Adjusted Net Cash Provided by Operating Activities increased to $1.297 billion in 2023, but Adjusted Cash Flow decreased to $493 million due to significantly higher capital spending Adjusted Cash Flow Calculation (in millions) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $1,144 | $1,090 | | Adjustments | +$153 | +$159 | | **Adjusted Net Cash Provided by Operating Activities** | **$1,297** | **$1,249** | | Capital Spending | $(804) | $(549) | | **Adjusted Cash Flow** | **$493** | **$700** | [Calculation of Net Organic Sales Growth](index=10&type=section&id=Calculation%20of%20Net%20Organic%20Sales%20Growth) The company reported a negative 3.9% Net Organic Sales Growth for full year 2023, a non-GAAP metric adjusted for various factors to reflect underlying business performance Full Year 2023 Net Organic Sales Growth Calculation (in millions) | Line Item | Amount | | :--- | :--- | | Net Sales | $9,428 | | Less: Open Market Paperboard Sales | $(1,022) | | Less: Impact of Acquisitions | $(53) | | Less: Impact of Pricing | $(514) | | Less: Impact of Foreign Exchange | $(13) | | **Net Organic Sales** | **$7,826** | | Prior Year Net Organic Sales | $8,140 | | **Net Organic Sales Growth** | **(3.9)%** |

Financial Performance - Net Sales for Q3 2023 decreased by $102 million or 4% to $2,349 million compared to $2,451 million in Q3 2022, attributed to lower organic sales and open market volumes, partially offset by higher pricing and favorable foreign exchange [144]. - Income from Operations for Q3 2023 decreased by $6 million or 2% to $287 million from $293 million in Q3 2022, impacted by accelerated depreciation and inflation-related costs [144]. - Net Sales for the first nine months of 2023 increased by $125 million or 2% to $7,179 million from $7,054 million in the same period of 2022, attributed to higher pricing and new product introductions [156]. - Income from Operations for the first nine months of 2023 increased by $246 million or 39% to $884 million from $638 million in the same period of 2022, due to higher pricing and cost savings [157]. - Net Sales for the Paperboard Mills segment in Q3 2023 decreased to $236 million from $345 million in Q3 2022, primarily due to lower open market volume [167]. - The Americas Paperboard Packaging segment's Net Sales for Q3 2023 were $1,569 million, slightly down from $1,577 million in Q3 2022, with lower organic sales offset by higher pricing [167]. - Net Sales for the first nine months of 2023 amounted to $5,446 million, with Income from Operations at $799 million and Net Income at $482 million [187]. Acquisitions and Investments - The Company completed the acquisition of Bell Incorporated for $264 million in September 2023, adding three packaging facilities [148]. - The Company acquired Bell Incorporated in September 2023, contributing to new product introductions in the Americas Paperboard Packaging segment [171]. - Net Cash Used in Investing Activities for the first nine months of 2023 was $875 million, compared to $367 million in 2022, including acquisitions of Tama and Bell Incorporated [183]. - The Company completed the acquisition of Bell Incorporated for $264 million, enhancing its packaging capabilities [177][183]. - The Company's capital investments for the first nine months of 2023 were $587 million, up from $313 million in the same period of 2022, primarily due to the construction of a new CRB mill in Waco, Texas [201]. - Total capital investment for 2023 is expected to be approximately $800 million [210]. Debt and Financial Flexibility - The Company reported a total outstanding debt of $5,608 million as of September 30, 2023, which may restrict its financial flexibility and ability to respond to market changes [142]. - The Company reported a maximum Consolidated Total Leverage Ratio of 2.74 to 1.00 as of September 30, 2023, compliant with the covenant requirement of less than 4.25 to 1.00 [199]. - The Company expects sufficient liquidity from cash flows and revolving credit facilities to meet ongoing cash requirements for at least the next twelve months [189]. - The Company has active interest rate swap agreements with a notional amount of $750 million expiring on April 1, 2024, to manage interest rate risks [214]. Cost and Inflation - The Company experienced a cost increase of $149 million for the nine months ended September 30, 2023, primarily due to higher labor and benefits costs [136]. - Inflation for Q3 2023 increased by $11 million compared to Q3 2022, driven by higher labor and benefits costs of $22 million, offset by commodity deflation of $32 million [151]. - Income from Operations decreased due to commodity inflation, lower organic sales, and increased impairment charges related to the divestiture of Russian operations [174][176]. Operational Changes - The Company announced the closure of three packaging facilities by the end of 2023, consolidating production into other plants [148]. - The Company has implemented strategies to reduce costs and improve productivity through continuous improvement initiatives and Lean Sigma principles [138]. - The Company’s core packaging volumes were lower in several categories, including beverage and dairy, while foodservice volumes increased [149]. Tax and Impairment - Income Tax Expense for Q3 2023 was $54 million on Income before Income Taxes of $224 million, with an effective tax rate impacted by charges related to the divestiture of Russian operations [153]. - The Company recorded a $12 million non-cash impairment charge related to its packaging plants in Russia, reducing the carrying value of goodwill for these facilities to zero [208]. - The Company expects its U.S. federal cash tax liability in 2023 to be reduced by approximately $112 million due to remaining net operating loss carryforwards [155]. Cash Flow and Expenses - Net Cash Provided by Operating Activities for the first nine months of 2023 totaled $702 million, an increase from $620 million in the same period of 2022 [182]. - Capital spending increased to $592 million in 2023 from $445 million in 2022, driven by the construction of a new CRB mill in Waco, Texas [183]. - Capitalized interest costs incurred during the first nine months of 2023 were $3 million, compared to $4 million in the same period of 2022 [202]. - Depreciation and amortization expense is projected to be between $615 million and $625 million for 2023 [212]. Credit Rating - The Company’s credit rating is BB+ by Standard & Poor's and Ba1 by Moody's, both with a stable outlook [200].

Graphic Packaging Holding Company (NYSE:GPK) Q2 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Melanie Skijus - Vice President, Investor Relations Mike Doss - President and Chief Executive Officer Steve Scherger - Executive Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Mark Weintraub - Seaport Research Partners George Staphos - Bank of America Mike Roxland - Truist Securities Adam Samuelson - Goldman Sachs Cleve Rueckert - UBS ...

August 1, 2023 FORWARD LOOKING STATEMENTS • This presentation includes certain historic financial measures that exclude or adjust for charges or income associated with business combinations, facility shutdowns, extended mill outages, sales of assets and other special charges or income ("Non-GAAP Financial Measures"). The Company's management believes that the presentation of these Non-GAAP Financial Measures provides useful information to investors because these measures are regularly used by management in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Table of Contents FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 001-33988 Graphic Packaging Holding Company (Exact name of registrant as specified in its charter) Delaware 26-0405422 (State ...

Graphic Packaging Holding Company (NYSE:GPK) Q1 2023 Earnings Conference Call May 2, 2023 10:00 AM ET Company Participants Melanie Skijus - Vice President of Investor Relations Michael Doss - President and Chief Executive Officer Stephen Scherger - Executive Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Cleveland Rueckert - UBS George Staphos - Bank of America Kieran de Brun - Mizuho Mark Weintraub - Seaport Research Mike Roxland - Truist Securities Adam Sa ...