Graphic Packaging Holding Company (NYSE: GPK) has reported its second quarter 2025 financial results, showing a net income of $104 million, or $0.34 per diluted share, compared to $190 million, or $0.62 per diluted share in the second quarter of 2024. Adjusted net income for the second quarter of 2025 was $128 million, or $0.42 per diluted share, compared to $183 million, or $0.60 per diluted share in the same period last year.
The second quarter 2025 net sales decreased 1% to $2,204 million, versus $2,237 million in the second quarter of 2024. Meanwhile, the second quarter 2025 EBITDA decreased 29% to $323 million. Excluding special items, adjusted EBITDA was $336 million versus $402 million in the same quarter last year.
The company's total debt was $5,859 million in the second quarter of 2025 compared to $5,209 million in the fourth quarter of 2024. Net debt was $5,739 million in the second quarter of 2025 compared to $5,052 million in the fourth quarter of 2024. Capital expenditures in the second quarter of 2025 were $228 million, versus $249 million in the same quarter last year.
For the full-year 2025, Graphic Packaging Holding Company expects net sales, adjusted EBITDA, and adjusted EPS, including foreign exchange impact, of $8.4 billion to $8.6 billion, $1.45 billion to $1.55 billion, and $1.90 to $2.20, respectively.
The company repurchased approximately 1.6%, or approximately 5.0 million shares of its common stock outstanding, for $111 million during the second quarter of 2025. Additionally, regular dividends of approximately $33 million were paid in the first and second quarter, respectively.
The company's 2025 annual guidance reflects actual first-half performance and a narrowing of, as well as a modest increase in, second-half revenue expectations. The full-year 2025 capital spending is currently expected to be approximately $850 million, reflecting higher final design and construction costs at the company's Waco, Texas recycled paperboard facility.
The company's president and CEO, Michael Doss, highlighted that with the Waco, Texas recycled paperboard investment nearing completion, the company's capital spending is expected to decline sharply in 2026, and the company anticipates generating cash well in excess of its internal needs for years to come. The market has reacted to these announcements by moving the company's shares -4.17% to a price of $22.165. If you want to know more, read the company's complete 8-K report here.
