Net sales were broadly unchanged year-on-year, rising by $2m to $2.19bn. Credit: mariakray / Shutterstock.com.

Graphic Packaging has posted net income of $22m in the third quarter (Q3) of 2026, down 84.5% compared with $142m in the same quarter last year.

Results in both quarters included charges related to non-recurring and special items, as well as amortisation of purchased intangibles.

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These totalled $45m in Q3 2026, against $30m a year earlier.

Adjusted net income, excluding these items, was $67m in the latest quarter.

Net sales were broadly unchanged year-on-year, rising by $2m to $2.19bn.

A 1% increase in volume/mix, worth $19m, was partly offset by a 1% price decline of $15m and a $2m unfavourable foreign exchange and other impact.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 30% to $254m during Q3 2026, from $361m in the prior-year quarter.

Adjusted EBITDA, excluding business combinations and other non-recurring and special items, fell to $289m from $383m.

The $94m reduction in adjusted EBITDA reflected $83m of higher commodity input and operating cost inflation, a $15m unfavourable price impact, and a $3m decline in volume/mix.

Total debt, including long-term, short-term and current portion debt, was $5.5bn in Q3 2026.

The company returned approximately $98m to stockholders through regular dividends during the first nine months of 2026.

For 2026, Graphic Packaging expects net sales of approximately $8.6bn, adjusted EBITDA of $1.05bn, and adjusted EPS of $0.65.

It also maintained its outlook for adjusted cash flow of $600m-$700m and capital spending below $450m.

Graphic Packaging president and CEO Robbert Rietbroek said: “In the third quarter, we demonstrated progress on our near-term strategic priorities. We drove year-over-year revenue and volume growth and, for the second consecutive quarter, expanded adjusted EBITDA margin sequentially.

“Our strong relative performance despite elevated inflation reflects the resilience of our business and the benefits of our structural cost reduction and productivity initiatives. Importantly, these actions have created positive operating leverage and better position us to capture benefits from our commercial excellence initiatives and price improvements in the fourth quarter and into 2027.”