$GPK
GRAPHIC PACKAGING HOLDING CO

2023 Q2 Form 10-Q Financial Statement

#000140807523000021 Filed on May 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.392B $2.438B $2.245B
YoY Change 1.44% 8.6% 36.14%
Cost Of Revenue $1.856B $1.878B $1.858B
YoY Change -3.18% 1.08% 32.71%
Gross Profit $536.0M $560.0M $387.0M
YoY Change 21.54% 44.7% 55.42%
Gross Profit Margin 22.41% 22.97% 17.24%
Selling, General & Admin $205.0M $197.0M $181.0M
YoY Change 10.81% 8.84% 43.65%
% of Gross Profit 38.25% 35.18% 46.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $165.0M $139.0M $139.0M
YoY Change 18.71% 0.0% 18.8%
% of Gross Profit 30.78% 24.82% 35.92%
Operating Expenses $220.0M $197.0M $181.0M
YoY Change 18.92% 8.84% 43.65%
Operating Profit $316.0M $330.0M $193.0M
YoY Change 107.89% 70.98% 78.7%
Interest Expense -$60.00M $58.00M $42.00M
YoY Change -225.0% 38.1% 40.0%
% of Operating Profit -18.99% 17.58% 21.76%
Other Income/Expense, Net $0.00 -$1.000M $2.000M
YoY Change -100.0% -150.0% 0.0%
Pretax Income $207.0M $271.0M $153.0M
YoY Change 97.14% 77.12% 91.25%
Income Tax $57.00M $64.00M $46.00M
% Of Pretax Income 27.54% 23.62% 30.07%
Net Earnings $150.0M $207.0M $107.0M
YoY Change 127.27% 93.46% 98.15%
Net Earnings / Revenue 6.27% 8.49% 4.77%
Basic Earnings Per Share $0.49 $0.67 $0.35
Diluted Earnings Per Share $0.49 $0.67 $0.35
COMMON SHARES
Basic Shares Outstanding 307.1M shares 307.1M shares 308.8M shares
Diluted Shares Outstanding 309.1M shares 309.7M shares 309.7M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.0M $113.0M $111.0M
YoY Change 15.74% 1.8% -4.31%
Cash & Equivalents $125.0M $113.0M $111.0M
Short-Term Investments
Other Short-Term Assets $114.0M $84.00M $97.00M
YoY Change 22.58% -13.4% 15.48%
Inventory $1.729B $1.700B $1.504B
Prepaid Expenses
Receivables $933.0M $915.0M $945.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.901B $2.812B $2.657B
YoY Change 8.08% 5.83% 39.04%
LONG-TERM ASSETS
Property, Plant & Equipment $4.753B $4.678B $4.675B
YoY Change 3.3% 0.06% 28.75%
Goodwill $2.048B $2.053B $2.006B
YoY Change 3.75% 2.34% 35.72%
Intangibles $693.0M $710.0M $831.0M
YoY Change -12.06% -14.56% 96.45%
Long-Term Investments
YoY Change
Other Assets $344.0M $346.0M $374.0M
YoY Change -1.71% -7.49% 23.03%
Total Long-Term Assets $7.838B $7.787B $7.886B
YoY Change 1.62% -1.26% 35.13%
TOTAL ASSETS
Total Short-Term Assets $2.901B $2.812B $2.657B
Total Long-Term Assets $7.838B $7.787B $7.886B
Total Assets $10.74B $10.60B $10.54B
YoY Change 3.29% 0.53% 36.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $996.0M $1.009B $1.028B
YoY Change -1.19% -1.85% 31.63%
Accrued Expenses $678.0M $669.0M $632.0M
YoY Change -4.24% 5.85% 30.31%
Deferred Revenue
YoY Change
Short-Term Debt $18.00M $15.00M $14.00M
YoY Change -10.0% 7.14%
Long-Term Debt Due $445.0M $31.00M $263.0M
YoY Change 69.2% -88.21% 405.77%
Total Short-Term Liabilities $2.137B $1.735B $1.946B
YoY Change 6.42% -10.84% 47.65%
LONG-TERM LIABILITIES
Long-Term Debt $5.046B $5.463B $5.645B
YoY Change -8.35% -3.22% 49.06%
Other Long-Term Liabilities $398.0M $282.0M $271.0M
YoY Change 58.57% 4.06% -9.36%
Total Long-Term Liabilities $5.444B $5.745B $5.916B
YoY Change -5.44% -2.89% 44.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.137B $1.735B $1.946B
Total Long-Term Liabilities $5.444B $5.745B $5.916B
Total Liabilities $8.290B $7.480B $7.862B
YoY Change 6.76% -4.86% 45.48%
SHAREHOLDERS EQUITY
Retained Earnings $743.0M $623.0M $150.0M
YoY Change 295.21% 315.33% -1100.0%
Common Stock $2.052B $2.040B $2.038B
YoY Change 0.39% 0.1% 14.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.449B $2.308B $1.949B
YoY Change
Total Liabilities & Shareholders Equity $10.74B $10.60B $10.54B
YoY Change 3.29% 0.53% 36.09%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $150.0M $207.0M $107.0M
YoY Change 127.27% 93.46% 98.15%
Depreciation, Depletion And Amortization $165.0M $139.0M $139.0M
YoY Change 18.71% 0.0% 18.8%
Cash From Operating Activities $231.0M $60.00M $18.00M
YoY Change -14.44% 233.33% -66.04%
INVESTING ACTIVITIES
Capital Expenditures $189.0M $196.0M -$223.0M
YoY Change -236.96% -187.89% 52.74%
Acquisitions $100.0M $0.00
YoY Change
Other Investing Activities $25.00M $1.000M $1.000M
YoY Change 13.64% 0.0% -50.0%
Cash From Investing Activities -$164.0M -$273.0M -$195.0M
YoY Change 41.38% 40.0% 62.5%
FINANCING ACTIVITIES
Cash Dividend Paid $31.00M $23.00M
YoY Change 34.78% -4.17%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -46.00M $177.0M $119.0M
YoY Change -69.13% 48.74% 2280.0%
NET CHANGE
Cash From Operating Activities 231.0M $60.00M $18.00M
Cash From Investing Activities -164.0M -$273.0M -$195.0M
Cash From Financing Activities -46.00M $177.0M $119.0M
Net Change In Cash 21.00M -$35.00M -$61.00M
YoY Change 320.0% -42.62% -3.17%
FREE CASH FLOW
Cash From Operating Activities $231.0M $60.00M $18.00M
Capital Expenditures $189.0M $196.0M -$223.0M
Free Cash Flow $42.00M -$136.0M $241.0M
YoY Change -89.71% -156.43% 21.11%

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