Graphic Packaging (GPK) Reports In-Line Q1 EPS

Graphic Packaging (NYSE: GPK) reported Q1 EPS of $0.18, in-line with the analyst estimate of $0.18. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.05 billion.

"We delivered a very solid first quarter," said President and CEO Michael Doss. "Sales were up 2.6% driven by both acquisitions and modest volume growth in our core legacy business. Adjusted EBITDA Margin increased 70 basis points to 18.7%. The increase was driven by $16.4 million of improved operating performance across the organization, as we remain firmly committed to our culture of continuous improvement and cost reduction."

"While we remain keenly focused on day to day execution, we had a busy quarter as we closed three strategic, tuck-under acquisitions and announced a fourth, which is expected to close in the second quarter. These transactions represent a continuation of our strategy to grow in key end-markets and geographies."

For earnings history and earnings-related data on Graphic Packaging (GPK) click here.

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