Graphic Packaging Holding Company · NYSE:GPK
Graphic Packaging — Q1 2026 Earnings Presentation
16 slides from Graphic Packaging's earnings presentation, May 5, 2026
Slide 1: First Quarter 2026 Earnings & Investor Update
First Quarter 2026 Earnings & Investor Update May 5, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Any statements of the Company’s expectations in these slides, including, but not limited to, statements regarding addressable market size, inflation impact, full-year 2026 capital expenditures, Adjusted Cash Flow, 2
Slide 3: Today's Presenters
Today’s Presenters Robbert Chuck Melanie Rietbroek Lischer Skijus President and Chief SVP, Interim Chief Financial Officer Vice President of Executive Officer and Chief Accounting Officer Investor Relations 3
Slide 4: Q1 2026 Results
Q1 2026 Results Net Sales Adj. EBITDA1,2 Δ Adj. Cash Flow1 $2.2B $232M + $259M YoY improvement +2% Focused on margin ($183M) expansion YoY net sales improvement Q1’26 Adj. Cash Flow1 +1% $0.09 Use of cash consistent with YoY volume improvement Q1’26 Adj. EPS1 seasonality of business 1. Adjusted figu
Slide 5: Q1 2026 Sales by End Market
Q1 2026 Sales by End Market End Market Q1’25 Q2’25 Q3’25 Q4’25 2025 Q1’26 Food Beverage Foodservice Household Health & Beauty Total >+5% +2% to +5% -2% to +2% -2% to -5% >-5% 5 Note: Chart represents Net Sales YoY.
Slide 6: Executing Near-Term Strategic Priorities
Executing Near-Term Strategic Priorities Focus on Enhance Optimize Deliver free cash Deploy free cash disciplined profitability operations, flow growth flow to pay down organic growth through cost footprint, and commitment debt and return and exceptional initiatives, portfolio to through inventory c
Slide 7: 90-Day Review Reinforces Strong Foundation
90-Day Review Reinforces Strong Foundation Taking Decisive Actions to Drive Value Creation Business Review Key Takeaways Key Actions ❑ Reached agreement to divest non-core assets in Competitive differentiators: global scale, Croatia technical capabilities, innovation leadership, world-class assets ❑
Slide 8: Building on Strong Customer Relationships
Building on Strong Customer Relationships Collaborative Partnerships Support Achievement of Customer Goals, Drive Organic Growth Private Label Expansion Brand Enhancement Recently began producing a leading global Developed custom two-piece box set with retailer’s private label butter carton on appli
Slide 9: Innovation Expands Market Opportunity
Innovation Expands Market Opportunity ADDRESSABLE PAPERBOARD Driving development of more sustainable packaging solutions PACKAGING MARKET OPPORTUNITY $15B (~85% plastic replacement opportunities) Partnered with a health- focused emerging brand to support their transition $5.0B Trays & Bowls from pla
Slide 10: Operational Execution
Operational Execution RAMPING UP WACO Customer qualifications ahead of plan, well-positioned to serve new and existing geographies Leveraging plentiful recovered fiber sources across the Texas triangle Completing co-generation plant to strengthen power supply assurance and help to advance customer s
Slide 11: Clear Path Forward
Clear Path Forward Pay down debt, strengthen balance sheet, disciplined high-return investments, return capital to shareholders through dividend Drive disciplined and sustainable growth through proactive commercial strategy and focus on innovation Controlling the controllables by taking decisive act
Slide 12: Q1 2026 Results
Q1 2026 Results ($M excl. EPS) Q1’26 Q1’25 Δ YoY Q1’26 HIGHLIGHTS • Volume +1%, Price -2% Net Sales $2,156 $2,120 +2% • Innovation Sales Growth $42M • FX +$50M Net Income/(Loss) ($43) $127 (134%) Adj. EBITDA1 $232 $365 (36%) BUSINESS DRIVERS Adj. EBITDA Margin1 10.8% 17.2% (640 bps) • Temporary pack
Slide 13: 2026 Guidance Reaffirmed
2026 Guidance Reaffirmed1 Net Sales $8.4B - $8.6B Assumed Volume Range -1% to +1% Adj. EBITDA $1.05B - $1.25B Adj. Cash Flow $700M - $800M Adj. EPS $0.75 - $1.15 Capital Spending ~$450M 13 1. Includes current estimated F/X forecast impact.
Slide 14: N Y eng AN
AJ . : N Y eng AN
Slide 15: Supplemental Guidance Information
Supplemental Guidance Information ($M) 2026 Interest Expense $250 - $270 Effective Tax Rate ~25% Depreciation & Amortization1 $500 - $520 Year-End Net Leverage <4.2x 1. Excludes accelerated depreciation and amortization related to purchased intangibles. 15 2. Including the impact of any share repurc
Slide 16: Graphic Packaging Holding Company
Graphic Packaging Holding Company
Graphic Packaging Holding Company — Q1 2026 Earnings Presentation on 6ix