By Elias Schisgall
Shares of Graphic Packaging slipped after the consumer-packaging company trimmed its outlook for the year amid cost-cutting efforts.
The stock was down 7%, to $14.49, midday Tuesday and has fallen 47% in the past year.
Graphic Packaging on Monday cut its full-year outlook for adjusted earnings per share to between $1.75 and $1.95 a share, down from a range of $1.80 to $2.00 a share. The company didn't change its projections for sales and free cash flow.
The company said it would incur about $20 million in charges relating to severance costs and other one-time charges as it looks to cut expenses. It said it expects $60 million in savings in 2026 as a result of the measures.
Graphic Packing also said that it would likely see an additional $15 million decline in operating results for the current fourth quarter as a result of an acceleration in inventory-reduction efforts, on top of an initial $15 million dip announced during the third-quarter earnings call.
The Atlanta company named Robbert Rietbroek as its next president and chief executive officer beginning in January, succeeding Michael Doss, who mutually agreed with the board of directors to step down at year-end.
Rietbroek most recently served as CEO of Primo Brands.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
December 09, 2025 12:41 ET (17:41 GMT)
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