Graphic Packaging Holding Co.. Q1 Profit Decreases, but beats estimates

(RTTNews) - 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