Graphic Packaging reports Q3 EPS 20c, consensus 19c
Reports Q3 revenue $1.58B, consensus $1.57B. Michael Doss, the company's President and CEO said, "Q3 was a solid quarter with Adjusted EBITDA of $244 million at the high-end of our expectations. Pricing improved by $34 million reflecting the benefits of our pricing initiatives. Importantly, our pricing to commodity input cost relationship was a positive $26 million for the quarter and $67 million for the first nine months of 2019. In addition, we successfully completed the previously announced and planned extensive maintenance outage at our Texarkana SBS mill on time and on budget." Doss added, "We remain focused on capturing benefits from the consumer-driven shift into our innovative paperboard solutions and continue to expect that new product wins will drive 100-200 basis points of net organic volume growth in 2020."