Graphic Packaging Holding Company reported net income for third quarter 2021 of $73 million, or $0.24 per share, based upon 309 million weighted average diluted shares. This compares to third quarter 2020 net income of $64 million, or $0.23 per share, based upon 278 million weighted average diluted shares.

Net sales increased 5% to $1,782 million in the third quarter of 2021, compared to $1,698 million in the prior year period. The $84 million increase was driven by $53 million of pricing, $20 million of improved volume/mix and $11 million of foreign exchange.

EBITDA for the third quarter of 2021 was $246 million, compared to $241 million in the prior year period.  After adjusting both periods for business combinations and other special charges, adjusted EBITDA was $284 million in the third quarter of 2021 versus $250 million in the third quarter of 2020. 

“Demand for sustainable and circular packaging solutions is accelerating globally and we are proud to be the fiber-based consumer packaging provider driving ongoing innovation and meeting the call for more sustainable packaging alternatives,” said Michael Doss, the company's president and CEO.

“We experienced strong demand trends once again during the third quarter and backlogs remain elevated. The Foodservice business continued to recover, with sales improving 11% year over year, while Food, Beverage and Consumer grew 3%,” Doss added. “Commodity input cost inflation accelerated during the quarter and, as such, we have been executing multiple price actions to offset the inflation we have encountered this year."