Graphic Packaging Holding Co

Latest Results (16.11.2025):

Graphic Packaging Holding Co's Q2 2025 financial results show a mixed performance with key metrics reflecting both operational challenges and strategic initiatives. The company reported net income of $104 million (or $0.34 per diluted share), down from $190 million in Q2 2024, while adjusted net income reached $128 million. Despite a 1% decline in net sales to $2,204 million and a 29% drop in EBITDA to $323 million, modest improvements in packaging volumes and robust share repurchase activity underscore the company’s focus on long‐term value creation and sustainable growth.

Key Financial Metrics

In Q2 2025, Graphic Packaging Holding Co reported a net income of $104 million and diluted EPS of $0.34 compared to $190 million and $0.62 respectively in Q2 2024. Adjusted net income was $128 million, or $0.42 per diluted share, reflecting the exclusion of special charges and gains.

Operational Performance

Net sales declined by 1% to $2,204 million, impacted by the divestiture of a manufacturing facility and reduced open market sales. However, there was a modest volume increase of 1%, supported by promotional activity and evolving customer strategies.

EBITDA and Margins

EBITDA fell 29% to $323 million, with the adjusted figure slightly higher at $336 million compared to last year. The adjusted EBITDA margin also declined from 18.0% in Q2 2024 to 15.3% in Q2 2025, driven by inflationary pressures and pricing challenges.

Capital Returns and Debt

The company repurchased approximately 5 million shares for $111 million, reducing outstanding shares by 1.6%, and returned around $177 million to stockholders in the first half of 2025. Total and net debt increased relative to the previous period, with the net leverage ratio rising to 3.7x in Q2 2025.

Strategic Investments and Guidance

Graphical Packaging highlighted its Waco, Texas recycled paperboard facility investment on track for a Q4 2025 startup, with expectations of lower capital spending in 2026. For the full year 2025, the company guided net sales of $8.4–$8.6 billion, adjusted EBITDA of $1.45–$1.55 billion, and adjusted EPS of $1.90–$2.20, amid ongoing volume and market uncertainties.