Graphic Packaging (GPK) Misses Q4 EPS by 2c, Revenues In-Line

Graphic Packaging (NYSE: GPK) reported Q4 EPS of $0.17, $0.02 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.11 billion.

• Fourth quarter 2017 Net Income was negatively impacted by $14.9 million (net of a $7.6 million tax benefit) of business combinations and other special charges and accelerated depreciation related to the shutdown of the Santa Clara, California mill, and positively impacted by a $136.0 million benefit related to the Tax Cuts and Jobs Act of 2017.
• When adjusting for these charges, Adjusted Net Income for the fourth quarter of 2017 was $52.8 million, or $0.17 per diluted share. This compares to fourth quarter 2016 Adjusted Net Income of $44.7 million or $0.14 per diluted share.
• Net Sales increased 5.0% to $1,109.9 million in the fourth quarter of 2017, compared to $1,057.2 million in the prior year period. The $52.7 million increase was driven by $36.7 million of improved volume/mix related to acquisitions and modestly positive core volume, $15.5 million of favorable foreign exchange, and $0.5 million of higher pricing.

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

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