Packaging companies delve into Q2 results
Catch up on insights from executives at SEE, Berry Global, Pactiv Evergreen, Sonoco and more.
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Cascades’ new CEO details sales gains, production hit in Q2
By Katie Pyzyk • Aug. 13, 2024
Maintenance at facilities in New York and Virginia reduced production capacity by about 8,000 tons in Q2, but CEO Hugues Simon was optimistic about future growth at the company. Read the full article ➔
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SEE’s Q2 food gains offset by protective packaging weakness
By Katie Pyzyk • Aug. 9, 2024
One month into his new role, CEO Patrick Kivits detailed progress on SEE’s optimization plan. Executives anticipate volume weakness will persist into 2025. Read the full article ➔
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Consumers’ curtailed fast food consumption in Q2 hit packaging earnings
By Katie Pyzyk • Aug. 8, 2024
From McDonald’s to KFC, quick-service restaurants’ Q2 results generally haven’t been finger lickin’ good. Their packaging suppliers hope promotions will lure back inflation-weary consumers. Read the full article ➔
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Berry eyes $2B from ‘strategic divestitures’ within next year
By Maria Rachal • Aug. 5, 2024
The company continues to hone its focus on consumer products as the deal to spin off its health, hygiene and specialties segment remains on track. Read the full article ➔
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Pactiv Evergreen plans more cuts after Q2 ‘fell short of our expectations’
By Katie Pyzyk • Aug. 2, 2024
CEO Mike King detailed upcoming cost-cutting measures — including layoffs — following weaker-than-expected quarterly performance, due in large part to consumer spending dips and unanticipated plant downtime. Read the full article ➔
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Can-makers share perspective on energy drink, beer market trends
By Maria Rachal • Aug. 2, 2024
Coca-Cola and Anheuser-Busch InBev are among the beverage brand owners that reported Q2 results recently. CEOs at Ball, Crown and Ardagh spoke on beverage markets during earnings calls. Read the full article ➔
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Sonoco plans more divestitures under portfolio simplification strategy
By Katie Pyzyk • Aug. 1, 2024
While second-quarter volume levels increased over last year’s depressed state, “it's certainly not a robust recovery,” said CFO Rob Dillard. Read the full article ➔
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O-I’s new CEO is promising change. Analysts are skeptical.
By Maria Rachal • July 31, 2024
Gordon Hardie previewed upcoming furnace closures and plans to decentralize the glass packaging company’s business model. O-I is also doubling its rate of capacity curtailment in 2024 to 15%. Read the full article ➔
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Smurfit Westrock executives detail which legacy business segments are under evaluation
By Katie Pyzyk • July 31, 2024
The integration will take time. Executives from the legacy business of Ireland-based Smurfit Kappa “can't just come over and sprinkle some dust ... and everybody is going to change their way,” said Smurfit Westrock CFO Ken Bowles. Read the full article ➔
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Graphic Packaging expects impact from McDonald’s extending value meal offers
By Katie Pyzyk • July 30, 2024
The company foresees a “quite unusual” level of growth in the second half of the year. GPI also detailed expected impacts from two upcoming facility closures during a second-quarter earnings call on Tuesday. Read the full article ➔
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PCA to build new box plant in Phoenix area
By Katie Pyzyk • July 25, 2024
Packaging Corporation of America’s expansion comes as the company nearly set a Q2 record for corrugated shipments per day. Read the full article ➔
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New International Paper CEO details recovery plan after ‘totally unacceptable’ results
By Katie Pyzyk • July 24, 2024
CEO Andrew Silvernail came into the ring punching during his first earnings call since taking the role in May. The team is “tired of getting their butt kicked” due to historic underinvestment in capital expenditures and maintenance, he said. Read the full article ➔
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Crown expects $300M in proceeds from Eviosys deal
By Maria Rachal • July 23, 2024
Crown Holdings CEO Tim Donahue detailed how the canmaker intends to spend it. Read the full article ➔
Recommended Reading
- Packaging manufacturers discuss Q1 trends By Packaging Dive Staff • Updated May 10, 2024
