Graphic Packaging Holding Company Comments on Operating Conditions and Updates Full-Year 2024 Outlook

Core Viewpoint - Graphic Packaging Holding Company has provided an update on its operating conditions for the third quarter and its full-year 2024 outlook, indicating a reduction in expected financial performance due to recent operational disruptions [1][2]. Group 1: Operational Challenges - Severe weather in July led to reduced production at two paperboard manufacturing facilities [2]. - An electrical substation damage in August at a third facility caused additional production disruptions and restart costs [2]. - Collectively, these events are expected to reduce Adjusted EBITDA by approximately $20 million to $25 million in the third quarter [2]. Group 2: Financial Outlook - The company now anticipates that its full-year 2024 results will fall below the midpoint of the previously announced Adjusted EBITDA guidance range of $1,730 million to $1,830 million [2]. - The Adjusted EPS guidance range has also been adjusted downward from $2.65 to $2.85 [2]. Group 3: Recovery and Service Levels - All affected facilities have resumed normal operations, and customer service levels were not impacted by the disruptions [3]. Group 4: Company Overview - Graphic Packaging is a leader in sustainable consumer packaging, focusing on designs made primarily from renewable or recycled materials [8]. - The company operates a global network of design and manufacturing facilities, serving well-known brands across various sectors including food and beverage [8].