- Graphic Packaging Holding (NYSE:GPK) trades weak after missing on both lines of its Q3 report.
- On the bright side, the company's adjusted EBITDA increased 36% during the quarter to $256.3M (NYSE:MMM) despite higher commodity input costs and some labor inflation.
- GPK on pricing: "We successfully implemented a second open market price increase this year for our CUK and SBS paperboard during the quarter. We expect the successful open market paperboard price increases we achieved across our CRB, CUK, and SBS paperboard grades over the course of 2018 will drive strong pricing momentum as we turn to 2019. Despite the difficult commodity inflation environment, we are well positioned to generate continued profitability improvement driven by our pricing, new product development, and productivity initiatives."
- Shares of Graphic Packaging are down 2.60% premarket after a 3.1% decline yesterday in front of the earnings report.
- Previously: Graphic Packaging Holding misses by $0.02, misses on revenue (Oct. 23)
- Now read: New Oriental Education -11% after soft guidance
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