Shares of Graphic Packaging Holding Company (NYSE:GPK) ended Tuesday session in red amid volatile trading.
The shares closed down -1.26 points or -9.16% at $12.49 with 20.33 million shares getting traded. Post opening the session at $12.92, the shares hit an intraday low of $12.43 and an intraday high of $13.15 and the price vacillated in this range throughout the day. The company has a market cap of $4.05 billion and the numbers of outstanding shares have been calculated to be 319.11 million shares.
Graphic Packaging Holding Company (GPK) reported Net Income for third quarter 2016 of $57.8 million, or $0.18 per share, based upon 320.4 million weighted average diluted shares. This compares to third quarter 2015 Net Income of $60.2 million, or $0.18 per share, based on 330.4 million weighted average diluted shares.
Third quarter 2016 Net Income was negatively impacted by $6.2 million (net of a $2.7 million tax benefit) of business combinations and other special charges. When adjusting for these charges, Adjusted Net Income for the third quarter of 2016 was $64.0 million, or $0.20 per diluted share. This compares to third quarter 2015 Adjusted Net Income of $66.0 million or $0.20 per diluted share.
“Our third quarter Adjusted EBITDA was only modestly above the prior year period as packaged food volume softened during the quarter and we incurred operating costs associated with transferring volume to lower cost converting facilities and on-boarding new business,” said President and CEO Michael Doss. “Net sales were up 3.1% driven by acquisitions, while volume in our core business was down 1.4% driven by packaged food softness. Adjusted EBITDA was $200.1 million, up 1.5% compared to the prior year period of $197.1 million.”
Shares of General Motors Company (NYSE:GM) ended Tuesday session in red amid volatile trading. The shares closed down -1.39 points or -4.21% at $31.60 with 34.07 million shares getting traded. Post opening the session at $32.85, the shares hit an intraday low of $31.39 and an intraday high of $32.85 and the price vacillated in this range throughout the day. The company has a market cap of $50.80 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
General Motors Company (GM) announced record third-quarter earnings and revenue driven by robust retail sales in the United States, strong performance in China, growth in wholesale volume and effective cost performance.
Net revenue of $42.8 billion, up 10.3 percent
ROIC-adjusted of 30.6 percent, up 4.6 points
Net Income of $2.8 billion, up 104 percent
EBIT-adjusted of $3.5 billion, up 14.4 percent
EBIT-adjusted margin of 8.3 percent
EPS diluted of $1.76, up 110 percent
EPS diluted-adjusted of $1.72, up 14.7 percent
North America EBIT-adjusted of $3.5 billion
Adjusted automotive free-cash-flow of $3.5 billion, up $2.7 billion