Reports Q3 revenue $2.35B, consensus $2.48B. Michael Doss, the company’s president and CEO said, “We made further progress toward achieving Vision 2025 goals in the quarter, operating the business at sustained, higher margin levels supported by our innovation engine and focus on consumer packaging. Our multi-year CRB system transformation continues with the 550,000-ton K2 recycled paperboard machine fully ramped and operating at or above committed efficiency and quality levels. Correspondingly, with the recent decommissioning of our longest-running CRB machine, we have removed approximately 480,000 tons of higher-cost, less-efficient production capacity since beginning the project in 2019. Paperboard quality on our state-of-the-art machine is generating significant interest and we recently sold our first packaging solution utilizing the new Pacesetter Rainier recycled paperboard. Finally, in alignment with our balanced approach to capital allocation and investments for growth, we completed the Bell Incorporated acquisition during the quarter, further expanding our portfolio of solutions into new product categories.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GPK:
- Graphic Packaging Holding Company Reports Third Quarter 2023 Financial Results
- GPK Earnings this Week: How Will it Perform?
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Graphic Packaging assumed with a Strong Buy at Raymond James
- Netflix upgraded, Foot Locker downgraded: Wall Street’s top analyst calls