Graphic Packaging Holding Company filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 3, 2026, reporting a sharp decline in net income and rising cost pressures compared with the prior-year period.

Key Highlights

  • Net sales held nearly flat: Net sales for the three months ended September 30, 2026 were $2,192 million, compared with $2,190 million in the same period of 2025, according to the filing.
  • Net income declined sharply: Net income for the third quarter of 2026 was $22 million, down from $142 million in the third quarter of 2025.
  • Cost of sales increased: Cost of sales rose to $1,885 million for the third quarter of 2026 from $1,756 million in the third quarter of 2025.
  • Nine-month net income was $3 million: For the nine months ended September 30, 2026, the company reported net income of $3 million, compared with $373 million in the same period of 2025.
  • Interest expense increased: Interest expense, net, was $69 million for the third quarter of 2026, up from $53 million in the third quarter of 2025.
  • Shares outstanding: As of November 2, 2026, there were 296,090,044 shares of common stock outstanding, the filing stated.
  • Total assets: Total assets were $11,474 million as of September 30, 2026, compared with $11,775 million at December 31, 2025.

Graphic Packaging Q3 2026 Financial Results: Cost Increases Pressure Earnings

According to the filing, Graphic Packaging Holding Company (NYSE:GPK) reported net sales of $2,192 million for the three months ended September 30, 2026, essentially unchanged from $2,190 million in the third quarter of 2025. However, cost of sales increased to $1,885 million from $1,756 million in the same quarter a year earlier, contributing to a significant reduction in income from operations, which fell to $101 million from $234 million in the prior-year quarter.

The company disclosed net income of $22 million for the third quarter of 2026, compared with $142 million in the third quarter of 2025. Diluted net income per share was $0.07 for the quarter, down from $0.48 in the year-ago period. For the nine months ended September 30, 2026, net income was $3 million, compared with $373 million for the same period in 2025. Business combinations, exit activities and other special items, net, totaled $28 million in the third quarter of 2026 versus $22 million in the prior-year quarter, and $105 million for the nine-month period of 2026 versus $47 million in the same period of 2025, according to the filing.

On the balance sheet, the company reported total assets of $11,474 million at September 30, 2026, down from $11,775 million at December 31, 2025. Long-term debt was $4,645 million at September 30, 2026, compared with $5,022 million at year-end 2025, while short-term debt and current portion of long-term debt rose to $854 million from $549 million. Total shareholders' equity attributable to Graphic Packaging Holding Company was $3,206 million at September 30, 2026, compared with $3,336 million at December 31, 2025. The filing noted that accumulated other comprehensive loss widened to $314 million from $262 million over the same period.

What Was Disclosed

Graphic Packaging Holding Company disclosed its condensed consolidated financial results for the three and nine months ended September 30, 2026, including income statement, balance sheet, and equity figures, reflecting lower net income and higher costs relative to the comparable 2025 periods.