Packaging manufacturers share insights from Q3
Companies including Smurfit Westrock, International Paper, O-I Glass, Graphic Packaging and Amcor have detailed some notable changes during Q3 earnings calls.
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Mill divestiture ‘marks an important milestone’ for Pactiv Evergreen
By Katie Pyzyk • Nov. 12, 2024
The Pine Bluff, Arkansas, mill encountered operational challenges during its final month as a Pactiv asset. But its sale, and that of a North Carolina mill, “marks an important milestone,” according to CEO Mike King. Read the full article ➔
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Clearwater Paper details transition to paperboard focus amid sales jump
By Katie Pyzyk • Nov. 6, 2024
Despite a $5 million negative impact from Hurricane Helene in Q3, the company’s recent mill acquisition — and the sale of its tissue business — are expected to provide longer term support for the paperboard-focused company. Read the full article ➔
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Sonoco discloses pending $419M divestiture in China amid period of major change
By Cole Rosengren • Nov. 4, 2024
CEO Howard Coker said the pending purchase of Eviosys and two more possible divestitures would create a company primarily focused on metal and fiber products. It also disclosed notable hurricane effects in Florida. Read the full article ➔
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Amcor to exit longstanding closures joint venture in $122M deal
By Maria Rachal • Nov. 1, 2024
Amcor noted the deal during its first fiscal 2025 earnings call, in which new CEO Peter Konieczny also discussed the destocking trend in healthcare, plus a focus on higher-margin businesses like meat, pet care and premium coffee. Read the full article ➔
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DS Smith deal close pushed to 2025 as IP touts early results from its own turnaround plan
By Cole Rosengren • Oct. 31, 2024
CEO Andy Silvernail provided numerous updates on a company rethink that has involved site closures, a large corporate restructuring and operational changes. He also previewed the potential for new box plant investments. Read the full article ➔
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Smurfit Westrock cuts 800 positions, eyes footprint optimization and investments
By Katie Pyzyk • Oct. 30, 2024
CEO Tony Smurfit touted “excellent” results for the combined company’s first earnings report but noted a desire to further optimize assets and reduce costs. He also addressed questions about the solid bleached sulfate business. Read the full article ➔
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O-I considers cutting 7% of capacity by mid-2025
By Maria Rachal • Oct. 30, 2024
The company reported a net loss in Q3 after curtailing an estimated 18% of production amid destocking trends. It also reported the opening of a new manufacturing facility in Kentucky, its first in decades. Read the full article ➔
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Graphic Packaging to ditch third-party pricing indexes in 2025
By Katie Pyzyk • Oct. 29, 2024
The move to develop a new pricing index follows an industrywide controversy throughout 2024. Plus, GPI disclosed on its earnings call a partnership with McDonald’s on a food service packaging innovation. Read the full article ➔
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Suzano begins operating 2 US mills, talks bolt-on M&A
By Maria Rachal • Oct. 28, 2024
Suzano executives shared more details about the ramp-up in Arkansas and North Carolina, and the Brazilian company’s broader aspirations for growth in the U.S., during an earnings call on Friday. Read the full article ➔
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Beverage can trends in North America, Europe improved for Crown in Q3
By Maria Rachal • Oct. 21, 2024
However, customer promotional activity remains “lackluster,” which “may well be the new norm,” said CEO Tim Donahue. Read the full article ➔
Recommended Reading
- Packaging companies delve into Q2 results By Packaging Dive Staff • Updated Aug. 13, 2024
