GPK - Graphic Packaging Holding misses Q2 top and bottom line estimates; reaffirms FY23 outlook
2023-08-01 06:40:43 ET
- Graphic Packaging Holding press release ( NYSE: GPK ): Q2 Non-GAAP EPS of $0.66 misses by $0.09 .
- Revenue of $2.39B (+1.7% Y/Y) misses by $100M .
- Adjusted EBITDA was $453 million, an increase of 14% versus the prior year quarter.
- Full year 2023 guidance reiterated:
- Net Sales are expected to be approximately $10 billion vs. consensus of $9.96B.
- Adjusted EBITDA is expected to be between $1.8 and $2.0 billion.
- Adjusted Cash Flow is expected to be between $600 and $800 million.
- Net Leverage Ratio at year-end is expected to be at or below 2.5x Adjusted EBITDA.
- Adjusted Earnings per Diluted Share (Excluding Amortization of Purchased Intangibles) is expected to be between $2.70 and $3.10 vs. consensus of $2.98.
- Guidance excludes the pending acquisition of Bell Incorporated.
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Graphic Packaging Holding misses Q2 top and bottom line estimates; reaffirms FY23 outlook