Graphic Packaging(US:GPK)2026-02-03 13:15Financial Performance - 2025 net sales were $8.6 billion, a decrease of 2% from $8.8 billion in 2024[1] - 2025 net income was $444 million, down from $658 million in 2024, representing a decline of 32.5%[3] - Fourth quarter 2025 net sales were $2.1 billion, essentially flat compared to $2.1 billion in the same quarter last year[5] - Fourth quarter 2025 adjusted net income was $85 million, or $0.29 per diluted share, compared to $179 million, or $0.59 per diluted share in the same quarter of 2024[2] - Full-year 2025 adjusted EBITDA was $1.395 billion, down 17% from $1.682 billion in 2024[8] - Adjusted EBITDA for the twelve months ended December 31, 2025, was $1,395 million, down 17.1% from $1,682 million in 2024[28] - The company reported a decrease in EBITDA to $1,342 million in 2025 from $1,677 million in 2024, reflecting a decline of 19.9%[28] - The adjusted earnings per share (diluted) for 2025 was $1.80, down from $2.49 in 2024[28] Future Guidance - The company expects 2026 net sales to be between $8.4 billion and $8.6 billion, with adjusted EBITDA guidance of $1.05 billion to $1.25 billion[13] Capital Expenditures - Capital expenditures for full-year 2025 were $935 million, a decrease from $1.203 billion in the prior year[11] - Capital spending for 2025 was $935 million, a reduction of 22.2% from $1,203 million in 2024[30] Shareholder Returns - The company returned approximately $281 million to shareholders in 2025 through dividends and share repurchases[12] Debt and Leverage - Total debt for full-year 2025 was $5.592 billion, an increase from $5.209 billion in 2024[9] - The net leverage ratio increased to 3.8 in 2025 from 3.0 in 2024, indicating a higher level of debt relative to adjusted EBITDA[30] - The company reported a net debt of $5,331 million in 2025, an increase from $5,052 million in 2024[30] Cash Flow - Net cash provided by operating activities increased to $854 million in 2025, compared to $840 million in 2024[30] - Adjusted net cash provided by operating activities was $1,104 million in 2025, compared to $1,176 million in 2024[30] - The company had a net cash increase of $104 million in 2025, compared to a decrease of $5 million in 2024[24] Project Updates - The Waco, Texas greenfield recycled paperboard manufacturing facility project is substantially complete, with total projected costs of approximately $1.67 billion[11]