Graphic Packaging (GPK) Tops Q4 EPS by 3c
Graphic Packaging (NYSE: GPK) reported Q4 EPS of $0.19, $0.03 better than the analyst estimate of $0.16. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.04 billion.
"We delivered a very strong quarter in the face of difficult markets and foreign exchange headwinds," said President and CEO Michael Doss. "Sales increased 2.4% and we continue to gain share in many of our markets. Strong performance drove Adjusted EBITDA Margin higher by 40 basis points to 17.6%. We continued to execute on our operating improvement programs across the organization, achieving $74 million of performance improvements in 2015."
Mr. Doss continued, "We've been very busy since the end of the third quarter with the announcement of four strategic tuck-under acquisitions. Investing in high return projects and strategic acquisitions remains a core part of our profitable growth strategy. Two of the acquisitions, Virginia-based Carded Graphics and Minnesota-based Walter G. Anderson, bring state-of-the-art assets and enhance our leadership position in key North American food, beverage and consumer product markets. I am also excited about our international expansions in Mexico and Australia/New Zealand. The G-Box acquisition, completed in early January, adds two strategically located folding carton plants which strengthen our footprint in the growing Mexican food and beverage markets. While Graphic Packaging has been operating successfully in Australia for over two decades, the acquisition of market-leader Colorpak, and its three folding carton manufacturing facilities, allows us to expand in the Australia and New Zealand food, beverage and consumer product markets."
For earnings history and earnings-related data on Graphic Packaging (GPK) click here.
