BUZZ-Graphic Packaging hits more than 17-month low after reduced annual forecast, missed Q1 results

Reuters
02 May
BUZZ-Graphic Packaging hits more than 17-month low after reduced annual forecast, missed Q1 results

** Shares of Graphic Packaging GPK.N hit more than 17-month low, last down 15.1% at $21.48 after Q1 results miss

** The consumer packaging provider lowers its FY 2025 forecast for net sales and adj. EPS to reflect higher macroeconomic and consumer spending uncertainty

** Co now expects annual revenue $8.2 bln to $8.5 bln vs prior forecast of $8.7 bln to $8.9 bln

** Forecasts annual adj. EPS $1.75 to $2.25, lower than prior forecast of $2.53 to $2.78

** Co reports sales of $2.12 bln missing analysts' expectations of $2.14 bln, according to data compiled by LSEG

** Co posts adj. EPS of 51 cents, a 22% drop from a year ago

** 7 out of 12 analysts rate stock as "buy" or higher, 5 "hold"; median PT is $30.96 - LSEG data

** With current session moves, GPK down 20.9% YTD

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))

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