Graphic Packaging Holding Co.. (GPK) revealed earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $165 million, or $0.53 per share. This compares with $207 million, or $0.67 per share, in last year's first quarter.
Excluding items, Graphic Packaging Holding Co.. reported adjusted earnings of $203 million or $0.66 per share for the period.
Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 7.4% to $2.26 billion from $2.44 billion last year.
Graphic Packaging Holding Co.. earnings at a glance (GAAP) :
-Earnings (Q1): $165 Mln. vs. $207 Mln. last year.
-EPS (Q1): $0.53 vs. $0.67 last year.
-Revenue (Q1): $2.26 Bln vs. $2.44 Bln last year.
-Guidance:
Full year EPS guidance: $2.65-$2.85
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