Graphic Packaging Holding Co. Q3 2025 Financial Results – Decline in Packaging Volumes & Earnings

By Philip Seaworth • Tuesday, November 04 15:35 • Permanent Link

Graphic Packaging Holding Company (NYSE: GPK) reported its financial results for the third quarter of 2025. Here are the key highlights and changes compared to the same period last year:

Packaging volumes were down 2% year-over-year.
Net income for the third quarter of 2025 was $142 million, or $0.48 per diluted share, compared to $165 million, or $0.55 per diluted share in the third quarter of 2024.
Adjusted net income for the third quarter of 2025 was $172 million, or $0.58 per diluted share, down from $194 million, or $0.64 per diluted share in the third quarter of 2024.
Third quarter 2025 net sales decreased 1% to $2,190 million, compared to $2,216 million in the same quarter last year.
EBITDA for the third quarter of 2025 decreased 13% to $361 million, with adjusted EBITDA at $383 million compared to $433 million in the same quarter last year.
Total debt was $5,941 million in the third quarter of 2025, compared to $5,209 million in the fourth quarter of 2024.
Net debt was $5,821 million in the third quarter of 2025, compared to $5,052 million in the fourth quarter of 2024. The net leverage ratio was 3.9x in the third quarter of 2025, compared to 3.0x in the fourth quarter of 2024.
Capital expenditures in the third quarter of 2025 were $267 million, down from $313 million in the same quarter last year.
The company returned approximately $248 million to stockholders during the first nine months of 2025 through regular dividends and share repurchases.
During the third quarter of 2025, the company repurchased approximately 1.8 million shares of its common stock for $39 million.
Year to date, the company has repurchased approximately 6.8 million shares of common stock for $150 million, and has reduced net shares outstanding by approximately 2.3%.
The company currently expects full-year 2025 net sales, adjusted EBITDA, and adjusted EPS, including foreign exchange impact, of $8.4 billion to $8.6 billion, $1.40 billion to $1.45 billion, and $1.80 to $2.00, respectively.

The company also highlighted its innovation sales growth, which continues to open new markets for paperboard packaging, and its focus on returning cash to stockholders. Following these announcements, the company's shares moved 7.25%, and are now trading at a price of $16.795. Check out the company's full 8-K submission here.

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