Graphic Packaging Holding Company reported net income for 3Q 2016 of $57.8 million, or $0.18 per share, based upon 320.4 million weighted average diluted shares. This compares to 3Q 2015 net income of $60.2 million, as the company says in the press release received by Lesprom Network\.
3Q 2016 net income was negatively impacted by $6.2 million (net of a $2.7 million tax benefit) of business combinations and other special charges. When adjusting for these charges, Adjusted net income for the 3Q 2016 was $64 million, or $0.20 per diluted share. This compares to 3Q 2015 Adjusted net income of $66 million or $0.20 per diluted share.
Net sales increased 3.1% to $1,103.7 million in the 3Q 2016, compared to $1,070 million in the prior year period. The $33.7 million increase was driven by $51.3 million of improved volume/mix related to acquisitions.
EBITDA for 3Q 2016 was $191.2 million, or $2.1 million higher than the 3Q 2015. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA increased 1.5% to $200.1 million in the 3Q 2016 from $197.1 million in the 3Q 2015.
Graphic Packaging Holding Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage and other consumer product companies.
