Graphic Packaging Holding Announced Results for Q2 This Year

SEATTLE (Scrap Monster): Atlanta-based Graphic Packaging Holding Company reported results for second quarter this year.

The net sales for the quarter stood at $1,737 million, compared with $1,611 million during the prior year quarter. The increased demand for sustainability-supported, innovative consumer packaging solutions boosted the net organic sales by 5%. The net income witnessed decline from $52 million to $38 million over the prior year quarter. The adjusted earnings per diluted share remained unchanged at $0.26. Also, adjusted EBITDA witnessed marginal decline from $260 million in Q2 last year to $248 million in Q2 2021, said the company press release.

As on June 30, 2021 the company reported available liquidity of $1,883 million. The net interest expense totalled $29 million during the quarter. Graphic Packaging Holding Company reported capital expenditures of $200 million and income tax expense of $26 million. Also, the total debt reduced by $77 million during the quarter to $3,788 million, compared with the first quarter.

The company witnessed continued strong demand across markets. It implemented swift pricing actions to offset rising commodity input costs, said Michael Doss, President and CEO.

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