Graphic Packaging Reports Q3 2021 Results – Covering Printing Inks, Coatings and Allied Industries

Graphic Packaging Holding Company reported third quarter 2021 net income of $ 73 million, or $ 0.24 per share, based on 309 million weighted average diluted shares. This compares to third quarter 2020 net income of $ 64 million, or $ 0.23 per share, based on 278 million weighted-average diluted shares.

Net sales increased 5% to $ 1,782 million in the third quarter of 2021, from $ 1,698 million for the previous year period. The $ 84 million increase is due to $ 53 million in pricing, $ 20 million in enhanced volume / mix, and $ 11 million in foreign exchange.

EBITDA for the third quarter of 2021 was $ 246 million, compared to $ 241 million for the prior year period. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA was $ 284 million in the third quarter of 2021 compared to $ 250 million in the third quarter of 2020.

“The demand for sustainable, circular packaging solutions is accelerating globally and we are proud to be the consumer fiber-based packaging supplier that drives continuous innovation and answers the call for more sustainable packaging alternatives, ”said Michael Doss, president and CEO of the company.

“We saw a strong trend in demand again in the third quarter and order books remain high. Foodservice business continued to recover, with sales improving 11% year-over-year, while Food, Beverages and Consumer goods grew 3%, ”Doss added. “Inflation in commodity costs accelerated during the quarter and as such we implemented several price actions to offset the inflation we encountered this year. “