Graphic Packaging: 2Q Earnings Snapshot
ATLANTA (AP) _ Graphic Packaging Holding Co. (GPK) on Tuesday reported second-quarter net income of $49.4 million.
On a per-share basis, the Atlanta-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The packaging company posted revenue of $1.51 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.58 billion.
Graphic Packaging shares have dropped nearly 4 percent since the beginning of the year. The stock has climbed slightly more than 8 percent in the last 12 months.