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Graphic Packaging profit beats expectations
July 26, 2012 / 1:29 PM / 5 years ago

Graphic Packaging profit beats expectations

* Q2 EPS $0.11 vs est $0.09

* Q2 sales up 3 pct to $1.11 bln

July 26 (Reuters) - Graphic Packaging Holding Company’s quarterly profit beat Wall Street expectations, helped by better volumes and higher pricing.

Net income rose to $42.4 million, or 11 cents per share, for the April-June quarter, from $32.1 million, or 8 cents per share, a year earlier.

Sales at the company, which makes paperboard packaging for food and consumer products, rose 3 percent to $1.11 billion.

Paperboard packaging unit sales, which account for 83.5 percent of total revenue, were almost flat year-over-year. Flexible packaging segment sales rose 19 percent.

Analysts had expected earnings of 9 cents a share on sales of $1.13 billion, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $5.24 on Wednesday on the New York Stock Exchange.

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