Graphic Packaging Holding Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Graphic Packaging Holding Co. (GPK) filed its 10-Q for the quarter ending March 31, 2024, detailing its financial performance and operations.</b>

AI Summary

GRAPHIC PACKAGING HOLDING CO (GPK) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. The filing covers the quarterly period ending March 31, 2024. Graphic Packaging Holding Co. is incorporated in Delaware. The company's principal business address is in Atlanta, Georgia. The SIC code for the company is 2650 (Paperboard Containers & Boxes). The filing was submitted on April 30, 2024.

Why It Matters

For investors and stakeholders tracking GRAPHIC PACKAGING HOLDING CO, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Graphic Packaging Holding Co., crucial for understanding its current performance and future outlook. The filing details operational activities, including facility closings and disposals, which can impact future revenue and cost structures.

Risk Assessment

Risk Level: low — GRAPHIC PACKAGING HOLDING CO shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess the company's performance trends and strategic initiatives.

Key Numbers

• 20240331 — Period of Report (CONFORMED PERIOD OF REPORT)
• 20240430 — Filed As Of Date (FILED AS OF DATE)
• 2024 Q1 — Filing Quarter (2024 Q1)
• 12/31 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• GRAPHIC PACKAGING HOLDING CO (company) — FILER
• 2650 (dollar_amount) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• ATLANTA (company) — CITY
• GA (company) — STATE
• 30328 (dollar_amount) — ZIP
• New Giant CORP (company) — FORMER COMPANY
• 20070726 (dollar_amount) — DATE OF NAME CHANGE

FAQ

Risk Factors

• Facility Closing [medium — operational]: The company reported facility closings during the period from January 1, 2024, to March 31, 2024.
• Discontinued Operations [medium — operational]: The Augusta, Georgia Paperboard Manufacturing Facility was disposed of by sale on February 19, 2024.

Industry Context

Graphic Packaging Holding Co. operates in the paperboard containers and boxes industry, a sector focused on packaging solutions for various consumer and industrial goods.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow trends.
2. Examine the notes to the financial statements for details on debt, equity, and other financial instruments.
3. Review the 'Risk Factors' section for any new or evolving risks that could impact the company.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter.
• 2024-04-30: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2024-02-19: Sale of Augusta Facility — Date of disposal of the Augusta, Georgia Paperboard Manufacturing Facility.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly financial data for the year.

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 par value per share GPK New York Stock

Filing Documents

• gpk-20240331.htm (10-Q) — 960KB
• q12024exhibit101.htm (EX-10.1) — 12KB
• q12024ex102-incrementalfac.htm (EX-10.2) — 96KB
• gpk03312024ex311.htm (EX-31.1) — 9KB
• gpk03312024ex312.htm (EX-31.2) — 9KB
• gpk03312024ex321.htm (EX-32.1) — 4KB
• gpk03312024ex322.htm (EX-32.2) — 4KB
• 0001408075-24-000020.txt (&nbsp;) — 7125KB
• gpk-20240331.xsd (EX-101.SCH) — 52KB
• gpk-20240331_cal.xml (EX-101.CAL) — 98KB
• gpk-20240331_def.xml (EX-101.DEF) — 301KB
• gpk-20240331_lab.xml (EX-101.LAB) — 697KB
• gpk-20240331_pre.xml (EX-101.PRE) — 512KB
• gpk-20240331_htm.xml (XML) — 847KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS (Unaudited)

ITEM 1. FINANCIAL STATEMENTS (Unaudited) 4

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 33

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 33

— OTHER INFORMATION

PART II — OTHER INFORMATION 34

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 34

RISK FACTORS

ITEM 1A. RISK FACTORS 34

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 34

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 34

EXHIBITS

ITEM 6. EXHIBITS 35

SIGNATURES

SIGNATURES 36 EX-31.1 EX-31.2 EX-32.1 EX-32.2 XBRL Content 3 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GRAPHIC PACKAGING HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, In millions, except per share amounts 2024 2023 Net Sales $ 2,259 $ 2,438 Cost of Sales 1,733 1,878 Selling, General and Administrative 215 197 Other Expense, Net 16 18 Business Combinations, Exit Activities and Other Special Charges, Net 17 15 Income from Operations 278 330 Nonoperating Pension and Postretirement Benefit Expense ( 1 ) ( 1 ) Interest Expense, Net ( 59 ) ( 58 ) Income before Income Taxes 218 271 Income Tax Expense ( 53 ) ( 64 ) Net Income $ 165 $ 207 Net Income Per Share - Basic $ 0.54 $ 0.67 Net Income Per Share - Diluted $ 0.53 $ 0.67 The accompanying notes are an integral part of the Condensed Consolidated Financial Statements. 4 Table of Contents GRAPHIC PACKAGING HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended March 31, 2024 In millions Graphic Packaging Holding Company Noncontrolling Interest Total Net Income $ 165 $ — $ 165 Other Comprehensive Loss, Net of Tax: Derivative Instruments ( 1 ) — ( 1 ) Currency Translation Adjustment ( 57 ) — ( 57 ) Total Other Comprehensive Loss, Net of Tax ( 58 ) — ( 58 ) Total Comprehensive Income $ 107 $ — $ 107 Three Months Ended March 31, 2023 In millions Graphic Packaging Holding Company Noncontrolling Interest Total Net Income $ 207 $ — $ 207 Other Comprehensive (Loss) Income, Net of Tax: Derivative Instruments ( 5 ) — ( 5 ) Currency Translation Adjustment 24 1 25 Total Other Comprehensive Income, Net of Tax 19 1 20 Total Comprehensive Income $ 226 $ 1 $ 227 The accompanying notes are an integral part of the Condensed Consolidated Financial Statements. 5 Table of Contents GRAPHIC PACKAGING HOLDING COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) In millions, except share and per share amounts March 31, 2024 December 31, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR