Earnings Releases·Nov 3, 2026, 8:10 AM ET

Graphic Packaging Holding Company — Third Quarter 2026 Earnings Summary

Q3 2026 net sales rose 1% year-over-year to $2.192 billion, while net income and adjusted net income declined significantly to $22 million ($0.07/share) and $67 million ($0.23/share) respectively, compared to $142 million ($0.48/share) and $172 million ($0.58/share) in the prior year period.
Adjusted EBITDA fell 24% year-over-year to $289 million (down from $383 million), with the margin contracting to 13.2% from 17.5%, though sequential margin expansion occurred for the second consecutive quarter.
Full-year 2026 guidance remains unchanged at approximately $8.6 billion in net sales, $1.05 billion in adjusted EBITDA, and $0.65 in adjusted EPS, with adjusted cash flow reaffirmed at $600–$700 million.
Management anticipates margin improvement and a return to EBITDA growth in 2027, driven by commercial excellence initiatives and price improvements expected in Q4 2026.
Capital returns included approximately $98 million in dividends over the first nine months of 2026, while the company retired $400 million of long-term debt and reported no share repurchases during the period.