Graphic Packaging Announced Significant Progress Toward Vision 2025 Goals

SEATTLE (Scrap Monster): Graphic Packaging Holding Company reported second quarter 2022 results. The company reported significant progress toward its previously announced Vision 2025 goals.

ALSO READ: Graphic Packaging Announced Robust Q1 2022 Results

According to company press release, the net income surged higher from $38 million in the prior year quarter to $66 million. The adjusted EBITDA was $396 million, compared to $248 million in Q2 2021. The earnings per diluted share increased from $0.13 to $0.21 over the prior year quarter. The adjusted earnings per share too were up from $0.29 to $0.60. Also, the net sales recorded notable surge year-on-year from $1,737 million to $2,358 million.

The total debt of the company decreased $136 million from the prior quarter during the second quarter of 2022 to $5,831 million. Also, the total net debt reduced by $133 million during the quarter to $5,723 million compared to Q1 2022. As at end June this year, Graphic Packaging Holding reported available liquidity of $1,194 million.

Commenting on the results, Michael Doss, President and CEO noted that the strong growth in net organic sales indicates the ongoing transition of its customers to more recyclable and circular fiber-based packaging solutions. The recent strategic investments by the company have helped it to expand into new market segments and deliver cos-effective industry leading solutions.