Graphic Packaging Q1 EPS $0.67 (+91% YoY); raises FY23 EBITDA midpoint to $1.9B

GRAPHIC PACKAGING HOLDING CO

2023-Q1 EPS reported $0.67 revenue$2,438,000,000

Q1 Net Sales $2,438M (+9% YoY); Net Income $207M (+93%); Diluted EPS $0.67 (+91%).
Adjusted EBITDA $484M (+38% YoY); adjusted EPS $0.77 (+60%).
Raises FY23 Adj. EBITDA guidance to $1.9B midpoint (range $1.8-2.0B), up $100M.
Net leverage 3.1x; capital returns $59M ($31M dividends, $28M buybacks).
Launches fiber-based insulated cups with Chick-fil-A; begins construction on Waco mill.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRAPHIC PACKAGING HOLDING CO reported first quarter 2023 results: revenue $2,438 million, net income $207 million, EPS $0.67. Guidance raised.

Period: first quarter 2023
Revenue: $2,438 million
Net income: $207 million
EPS: $0.67
Guidance: raised
Result: reported results

Exact text from the filing

Graphic Packaging Holding Company Reports Strong First Quarter 2023 Financial Results Raises Full Year 2023 Adjusted EBITDA Guidance Midpoint to $1.9 Billion Q1 2023 Highlights • Net Sales were $2,438 million, an increase of 9% versus the prior year quarter. • Net Organic Sales increased 1% versus the prior year quarter. • Net Income was $207 million, an increase of 93% versus the prior year quarter. • Adjusted EBITDA was $484 million, an increase of 38% versus the prior year quarter. • Earnings per Diluted Share were $0.67, an increase of 91% versus the prior year quarter. • Adjusted Earnings per Diluted Share were $0.77, an increase of 60% versus the prior year quarter. • Net leverage was 3.1x versus 3.2x at year-end 2022. • Full-year 2023 Adjusted EBITDA guidance increased by $100 million to $1.9 billion at the midpoint of the guidance range.

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Source: SEC EDGAR

accession 0001408075-23-000017

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