Graphic Packaging Holding Company reported net income for 3Q 2017 of $47.3 million, this compares to 3Q 2016 net income of $57.8 million. 3Q 2017 net income was negatively impacted by $7.5 million (net of a $3.8 million tax benefit) of charges associated with business combinations, shutdown and other special charges, and accelerated depreciation related to the announced shutdown of the Santa Clara, California mill.
Net sales increased 3.1% to $1,137.6 million in the 3Q 2017, compared to $1,103.7 million in the prior year period.
When comparing against the prior year quarter, net sales were positively impacted by $29.7 million of improved volume/mix related to an acquisition and modestly positive core volumes, and $7.8 million of favorable foreign exchange. These benefits were partially offset by $3.6 million of lower pricing.
EBITDA for the 3Q 2017 was $184.1 million, or $7.1 million lower than the 3Q 2016. Adjusted EBITDA decreased as expected to $188.3 million in the 3Q 2017 from $200.1 million in the 3Q 2016.
Graphic Packaging Holding Company is a leading provider of paper-based packaging solutions. The Company operates on a global basis, is one of the largest producers of folding cartons in the United States, and holds leading market positions in coated unbleached kraft paperboard and coated-recycled paperboard.
