02.07.18
Graphic Packaging Holding Company reported net income for fourth quarter 2017 of $173.9 million, or $0.56 per share. This compares to fourth quarter 2016 net income of $34.9 million, or $0.11 per share.
For the full year 2017, net income was $300.2 million, or $0.96 per share. This compares to 2016 net income of $228.0 million, or $0.71 per share.
Net sales increased 5.0% to $1,109.9 million in the fourth quarter of 2017, compared to $1,057.2 million in the prior year period. The $52.7 million increase was driven by $36.7 million of improved volume/mix related to acquisitions and modestly positive core volume, $15.5 million of favorable foreign exchange, and $0.5 million of higher pricing.
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. The $105.6 million increase was driven by $135.6 million of improved volume/mix related to acquisitions and modestly positive core volume. The net sales increase was partially offset by $27.1 million of lower pricing and $2.9 million of unfavorable foreign exchange rates.
“Fourth quarter 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,” said Michael Doss, president and CEO.
“We announced the transformative combination with International Paper’s North America Consumer Packaging business on October 24, 2017 and closed the transaction on January 1, 2018, reflecting the significant effort of all those involved,” Doss added. “Looking ahead, we are well positioned to leverage the investments we made in 2017 and our enhanced mill and converting footprint to deliver significant value to all our stakeholders.”
EBITDA for the fourth quarter of 2017 was $179.1 million, or $17.9 million higher than the fourth quarter of 2016. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA increased 9.9% to $192.4 million in the fourth quarter of 2017 from $175.1 million in the fourth quarter of 2016.
EBITDA for the full year 2017 was $680.0 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.
Total Debt (Long-Term, Short-Term and Current Portion) decreased $1.1 million during the fourth quarter of 2017 to $2,287.0 million compared to the third quarter 2017. The company’s year-end 2017 Net Leverage Ratio was 3.12 times Adjusted EBITDA compared to 2.76 times at the end of 2016.
For the full year 2017, net income was $300.2 million, or $0.96 per share. This compares to 2016 net income of $228.0 million, or $0.71 per share.
Net sales increased 5.0% to $1,109.9 million in the fourth quarter of 2017, compared to $1,057.2 million in the prior year period. The $52.7 million increase was driven by $36.7 million of improved volume/mix related to acquisitions and modestly positive core volume, $15.5 million of favorable foreign exchange, and $0.5 million of higher pricing.
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. The $105.6 million increase was driven by $135.6 million of improved volume/mix related to acquisitions and modestly positive core volume. The net sales increase was partially offset by $27.1 million of lower pricing and $2.9 million of unfavorable foreign exchange rates.
“Fourth quarter 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,” said Michael Doss, president and CEO.
“We announced the transformative combination with International Paper’s North America Consumer Packaging business on October 24, 2017 and closed the transaction on January 1, 2018, reflecting the significant effort of all those involved,” Doss added. “Looking ahead, we are well positioned to leverage the investments we made in 2017 and our enhanced mill and converting footprint to deliver significant value to all our stakeholders.”
EBITDA for the fourth quarter of 2017 was $179.1 million, or $17.9 million higher than the fourth quarter of 2016. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA increased 9.9% to $192.4 million in the fourth quarter of 2017 from $175.1 million in the fourth quarter of 2016.
EBITDA for the full year 2017 was $680.0 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.
Total Debt (Long-Term, Short-Term and Current Portion) decreased $1.1 million during the fourth quarter of 2017 to $2,287.0 million compared to the third quarter 2017. The company’s year-end 2017 Net Leverage Ratio was 3.12 times Adjusted EBITDA compared to 2.76 times at the end of 2016.