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Consumer packaging solutions provider Graphic Packaging has reported a net income of $138m for the fourth quarter (Q4) of 2024, down from $196m in the same period last year.<\/p>\n
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The company highlighted that Q4 2024 was affected by a net charge of $41m from special items and the amortisation of purchased intangibles while the fourth quarter of 2023 saw a net charge of $34m from similar items.<\/p>\n
After adjusting for special items and the amortisation of purchased intangibles, the net income for Q4 2024 amounted to $179m, or $0.59 per diluted share, compared to $230m, or $0.75 per diluted share, in Q4 2023.<\/p>\n
For the fourth quarter ended 31 December 2024, the company reported sales of $2.09bn, down from $2.24bn in the same period last year.<\/p>\n
The company noted that the 7% decline was primarily due to a $103m negative impact from the divestiture of the Augusta, Georgia, bleached paperboard manufacturing facility.<\/p>\n
It also attributed the drop to the declines in bleached paperboard prices and volumes, as well as a $22m decrease in sales from packaging operations.<\/p>\n
Other acquisitions and divestitures resulted in a $14m adverse impact on sales for the quarter while foreign exchange fluctuations caused a $15m negative effect.<\/p>\n
EBITDA for the fourth quarter of 2024 was $376m, marking a decline of $68m compared to the fourth quarter of 2023.<\/p>\n
For full-year 2024, the company reported a net income of $658m, or $2.16 per share, based on a weighted average of 305.1 million diluted shares.<\/p>\n
In 2024, the company\u2019s sales totalled $8.80bn, down from $9.42bn in the previous year.<\/p>\n