Graphic Packaging Holding, a leading manufacturer of paperboard and paper packing materials based in Atlanta, has revised its sales projection and adjusted earnings forecast for 2023. This adjustment comes after the company reported that its customers were reducing their inventories of its packaging products in the third quarter.
Adjusted Earnings per Share
Graphic Packaging now expects its adjusted earnings per share for 2023 to be in the range of $2.85 to $3, compared to the previous estimate of $2.70 to $3.10 per share.
Sales Projection
The company has also lowered its sales projection for 2023, setting it between $9.5 billion and $9.6 billion instead of the initial target of $10 billion.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
Graphic Packaging’s new target for adjusted EBITDA is between $1.875 billion and $1.925 billion, compared to the previous range of $1.8 billion to $2 billion.
Adjusted Cash Flow
The company now forecasts adjusted cash flow between $600 million and $700 million, down from the previous range of $600 million to $800 million.
These projections take into account the impact of Graphic Packaging’s recent acquisition of Bell, which was finalized in the third quarter.
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