Packaging manufacturers’ Q3 results
Follow what top companies are saying in quarterly earnings reports about demand, destocking and optimizing manufacturing as 2023 winds down.
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Berry’s new CEO talks organic growth, sustainability opportunities
By Maria Rachal • Nov. 17, 2023
After fiscal year 2023 saw a nearly 13% decline in net sales, CEO Kevin Kwilinski took the helm. He shared his outlook on Berry Global’s acquisition strategy, the future of the Health, Hygiene, & Specialties division and more. Read the full article ➔
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WestRock Q4 results helped by corrugated, hurt by closures
By Katie Pyzyk • Nov. 9, 2023
While the corrugated sector grew, global paper sales declined. The company did not share new details on Smurfit Kappa’s pending acquisition. Read the full article ➔
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Ball announces site closures, discusses Bud Light impacts
By Maria Rachal • Nov. 3, 2023
Amid changes in demand, Ball is shutting down sites in Virginia and Washington and stepping back from expansion projects in Nevada and North Carolina. Read the full article ➔
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O-I Glass to curtail 20% of global capacity in Q4
By Maria Rachal • Nov. 2, 2023
The company is forging ahead on a new high-tech plant in Kentucky for a mid-2024 ramp-up, but it is extending the timeline for expansion projects in South America and Europe “to better align with the market recovery.” Read the full article ➔
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Sonoco outperforms Q3 guidance, but ‘cautious’ consumers depress demand
By Katie Pyzyk • Nov. 2, 2023
The company is beginning to see returns from recent M&A and equipment conversion investments, according to executives on a Q3 earnings call. Read the full article ➔
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Amcor CEO talks ongoing customer destocking, weak consumer demand
By Maria Rachal • Nov. 1, 2023
The company reaffirmed its guidance for fiscal year 2024, saying it expects the destocking trend to abate and cost-cutting benefits to kick in during the back half of the year. Read the full article ➔
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Destocking in ‘rearview mirror,’ but ‘cautious consumer’ slows Graphic Packaging’s recovery
By Katie Pyzyk • Nov. 1, 2023
GPI’s growth could be fueled by ramen, as a partnership to transform an iconic noodle cup from foam to fiber marks the company’s most recent innovation investment. Meanwhile, GPI discontinued a project to add capacity in Texas. Read the full article ➔
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Silgan to rightsize footprint, cut costs
By Maria Rachal • Oct. 27, 2023
“I think we are as frustrated with destocking as anybody else,” said CEO Adam Greenlee on a Q3 earnings call amid impacts to its important food, beverage and pet food markets. Read the full article ➔
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International Paper plots recovery from ‘depth and duration of this downturn’
By Katie Pyzyk • Oct. 26, 2023
While the downturn is “not like anything we've seen,” demand is on the rebound, said CEO Mark Sutton. Executives also provided more details about a series of recently announced shutdowns and layoffs. Read the full article ➔
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Crown lowers 2023 outlook, citing weakness in aerosols and Asia
By Maria Rachal • Oct. 25, 2023
The can manufacturer’s executives also discussed free cash flow increases, new capacity in the U.S. and Europe, customer and consumer trends and more. Read the full article ➔
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Packaging Corp. to restart idled mill on corrugated demand uptick
By Katie Pyzyk • Oct. 24, 2023
As months of destocking woes subside, company executives expect the demand increase to continue for the remainder of 2023, after hitting “rock bottom” in Q1. Read the full article ➔
Recommended Reading
- Packaging industry trends that shaped Q2 earnings By Packaging Dive Staff • Updated Aug. 17, 2023
- How packaging manufacturers fared in Q1 By Packaging Dive Staff • Updated May 10, 2023
