Graphic Packaging Holding Company reported net income for 4Q 2017 of $173.9 million, or $0.56 per share, based upon 311.2 million weighted average diluted shares.This compares to 4Q 2016 net income of $34.9 million, or $0.11 per share, based on 317.9 million weighted average diluted shares.
For the full year 2017, net income was $300.2 million, or $0.96 per share, based upon 311.9 million weighted average diluted shares. This compares to 2016 net income of $228 million, or $0.71 per share, based on 321.5 million weighted average diluted shares.
"4Q Adjusted EBITDA met our expectations at $192 million compared to $175 million in the prior year period. Net tons sold were up 1.9%, driven by acquisitions and the continuation of modestly positive core volume. The business operated well in the quarter reflecting a continued emphasis on production efficiencies and cost reductions generating $24 million in performance improvements," said President and CEO Michael Doss. "While recycled fiber input costs moderated significantly during the quarter, we incurred escalating logistics and chemicals input costs. We remain focused on offsetting our commodity input cost inflation with pricing initiatives, consistent with our long term track record."
Net sales increased 5% to $1,109.9 million in the 4Q 2017, compared to $1,057.2 million in the prior year period.
Net Sales increased 2.5% to $4,403.7 million for the full year 2017, compared to $4,298.1 million in the prior year.
EBITDA for the 4Q 2017 was $179.1 million, or $17.9 million higher than the 4Q 2016.
EBITDA for the full year 2017 was $680 million, or $43.4 million lower than the full year 2016. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA decreased 6.8% to $712.2 million in the full year 2017 from $763.8 million in the full year 2016.
Source: Lesprom Network
