Graphic Packaging Holding Co. Comments On Operating Conditions And Updates FY024 Outlook; Says "Severe Weather And An Electrical Substation Damage At Paperboard Manufacturing Facilities Led To Disruptions, Reducing Q3 Adj EBITDA By $20M-$25M And Causing FY24 Results To Fall Below The Midpoint Of Previously Announced Adj EBITDA And EPS Guidance Range Of $2.65-$2.85
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Graphic Packaging Holding Co. (NYSE: GPK) announced disruptions in Q3 due to severe weather and electrical substation damage, reducing Adjusted EBITDA by $20M-$25M. FY24 results are expected to fall below the midpoint of previous guidance. Operations have resumed, with no impact on customer service.
September 03, 2024 | 8:36 pm
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Graphic Packaging Holding Co. faced operational disruptions in Q3 due to severe weather and electrical issues, impacting Adjusted EBITDA by $20M-$25M. FY24 results are expected to fall below the midpoint of guidance.
The disruptions caused by severe weather and electrical issues have led to a significant reduction in Q3 Adjusted EBITDA, impacting the company's financial performance. This has resulted in a downward revision of the FY24 outlook, which is likely to negatively affect the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100