Graphic Packaging Stock Drops 16% On Lower Q1 Earnings

(RTTNews) - Graphic Packaging Holding Company (GPK) shares fell 16.32 percent to $20.92 after the company reported a decline in first-quarter earnings and revenue. Net income dropped to $127 million, or $0.42 per share, from $165 million, or $0.53 per share, a year ago.

The stock opened at $21.39 and has traded between $21.16 and $22.18 so far today. It previously closed at $25.31 on the New York Stock Exchange. GPK touched a new 52-week low of $21.16, with volume surging to 8.39 million shares, well above the average of 2.73 million.

Net sales fell 6 percent to $2.12 billion compared to $2.26 billion in the same quarter last year.