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Paper Recycling October 21, 2020 10:30:27 PM

Graphic Packaging Holding Company Posted Robust Q3 2020 Results

Paul Ploumis
ScrapMonster Author
The net sales were $1,697.7 million, as compared with $1,581.6 million a year before.

Graphic Packaging Holding Company Posted Robust Q3 2020 Results

SEATTLE (Scrap Monster): Graphic Packaging Holding Company reported financial results for third quarter 2020.

The company reported net income of $63.7 million, or $0.23 per diluted share in Q3 this year. This compares to $52.1 million, or $0.18 per diluted share in the prior year period. The net income was impacted by special charges of $86 million. After adjustments, the net income for the quarter was $72.3 million, or $0.26 per diluted share. It must be noted that the adjusted net income had totalled $57.9 million, or $0.20 per diluted share in Q3 2019.

ALSO READ: Graphic Packaging Holding Completes Acquisition of CPG Business from Grief, Inc.

The net sales were $1,697.7 million, as compared with $1,581.6 million a year before. The net organic sales recorded an increase of 4.2% during the quarter. For the initial none-month period of the current year, the net organic sales recorded year-on-year growth of 3.5%. The EBITDA for the quarter stood at $241.2 million.

As of 30th September, 2020, the company reported available liquidity of $1,557.1 million. The strategic investment at the Kalamazoo, Michigan facility boosted capital expenditures from $71.6 million in Q3 last year to $119.1 million in third quarter this year.

Michael Doss, President and CEO noted that its business pipeline continues to remain robust and that the company is uniquely positioned to capture growth in fiber-based packaging solutions. The company is confident of delivering excellent results in 2020, in line with the Vision 2025 goals, he added.

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