Connect with us

Technology

Graphic Packaging Holding Company Comments on Operating Conditions and Updates Full-Year 2024 Outlook

Published

on

ATLANTA, Sept. 3, 2024 /PRNewswire/ — Graphic Packaging Holding Company (NYSE: GPK), (“Graphic Packaging”, the “Company”), a global leader in sustainable consumer packaging, today provided an update on operating conditions in the third quarter and on its full-year 2024 outlook.

During July, severe weather conditions led to modestly reduced production at two paperboard manufacturing facilities. In August, an electrical substation was damaged at a third facility, resulting in additional disruption, lost production, and restart costs. While not material individually, as a group these events and added costs are expected to reduce Adjusted EBITDA by approximately $20 million to $25 million in the third quarter. As a result, the Company now expects full-year 2024 results will fall below the midpoint of the previously announced $1,730 million to $1,830 million Adjusted EBITDA guidance range and the $2.65 to $2.85 Adjusted EPS guidance range.

Each of the affected facilities resumed normal operations, and customer service levels were not affected.

Forward Looking Statements
Any statements of the Company’s expectations in this press release, including 2024 Adjusted EBITDA and Adjusted Earning per Diluted Share guidance, constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s present expectations. These risks and uncertainties include, but are not limited to, inflation of and volatility in raw material and energy costs, continuing pressure for lower cost products, the Company’s ability to implement its business strategies, including productivity initiatives, cost reduction plans, as well as the Company’s debt level, currency movements and other risks of conducting business internationally and the impact of regulatory and litigation matters, including the continued availability of the Company’s U.S. federal income tax attributes to offset U.S. federal income taxes and the timing related to the Company’s future U.S. federal income tax payments. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements, except as required by law. Additional information regarding these and other risks is contained in the Company’s periodic filings with the SEC.

Non-GAAP Financial Measures and Reconciliations
Adjusted EBITDA and Adjusted Earnings Per Share exclude gains or charges associated with: the Company’s business combinations, facility shutdowns, and other special items. The Company’s management believes that the presentation of Adjusted EBITDA and Adjusted Earnings Per Share provides useful information to investors because these measures are regularly used by management in assessing the Company’s performance. Adjusted EBITDA and Adjusted Earnings Per Share are financial measures not calculated in accordance with generally accepted accounting principles in the United States (“GAAP”), and are not measures of net income, operating income, operating performance, or liquidity presented in accordance with GAAP.

Adjusted EBITDA and Adjusted Earnings Per Share should be considered in addition to results prepared in accordance with GAAP, but should not be considered substitutes for or superior to GAAP results. In addition, our Adjusted EBITDA and Adjusted Earnings Per Share, may not be comparable to Adjusted EBITDA or similarly titled measures utilized by other companies since such other companies may not calculate such measures in the same manner as we do.

A reconciliation of Adjusted EBITDA and Adjusted Earnings Per Share to their respective comparable GAAP measures for the second quarter of 2024 can be found in the Earnings Release for second quarter 2024, which is attached as Exhibit 99.1 to the Current Report on Form 8-K filed by the Company on July 30, 2024.

About Graphic Packaging Holding Company
Graphic Packaging designs and produces consumer packaging made primarily from renewable or recycled materials. An industry leader in innovation, the Company is committed to reducing the environmental footprint of consumer packaging. Graphic Packaging operates a global network of design and manufacturing facilities serving the world’s most widely recognized brands in food, beverage, foodservice, household, and other consumer products. Learn more at www.graphicpkg.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/graphic-packaging-holding-company-comments-on-operating-conditions-and-updates-full-year-2024-outlook-302237150.html

SOURCE Graphic Packaging Holding Company

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Gaotu Techedu to Report Fourth Quarter and Fiscal Year 2024 Financial Results on February 26, 2025

Published

on

By

BEIJING, Feb. 13, 2025 /PRNewswire/ — Gaotu Techedu Inc. (“Gaotu” or the “Company”) (NYSE: GOTU), a technology-driven education company and online large-class tutoring service provider in China, today announced that it will report its financial results for the fourth quarter and fiscal year 2024 ended December 31, 2024, before U.S. markets open on Wednesday, February 26, 2025.

Gaotu’s management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Wednesday, February 26, 2025 (9:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-317-6061

United States:

+1-888-317-6003

Hong Kong:

800-963-976

Mainland China:

400-120-6115

Passcode:

2778362

A telephone replay will be available two hours after the conclusion of the conference call through March 5, 2025. The dial-in details are as follows:

International:

+1-412-317-0088

United States:  

+1-877-344-7529

Passcode:

4036127

Additionally, a live and archived webcast of this conference call will be available at https://ir.gaotu.cn/home.

About Gaotu Techedu Inc.   

Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational contents & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn

Christensen

In China
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: gotu@christensencomms.com 

In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004 
E-mail: linda.bergkamp@christensencomms.com 

View original content:https://www.prnewswire.com/news-releases/gaotu-techedu-to-report-fourth-quarter-and-fiscal-year-2024-financial-results-on-february-26-2025-302375811.html

SOURCE Gaotu Techedu Inc.

Continue Reading

Technology

Agoda: Thai Couples Lead Asia in Domestic Travel for Valentine’s Day

Published

on

By

BANGKOK, Feb. 13, 2025 /PRNewswire/ — Agoda reveals Thai couples to be leading in domestic travel compared to couples from other Asian markets this Valentine’s Day. Thai couples are followed by those from Japan and the Philippines, following in second and third place, respectively.

This year, Valentine’s Day falls on a Friday, providing a great opportunity for a weekend getaway. The most popular domestic destinations are Bangkok, Pattaya, Chiang Mai, Khao Yai (a newcomer in the rank), and Hua Hin. In 2024, Bangkok, Pattaya, and Chiang Mai also held the top three positions, but were then followed by Hua Hin and Phuket, respectively.

For international travel, the top destinations for Thai couples this year are Tokyo, Hong Kong, Singapore, Taipei, and Osaka. Tokyo maintains its number one spot.

Pierre Honne, Country Director Thailand at Agoda, shared: “Valentine’s Day may not be a public holiday, but it’s a special time for couples to celebrate with loved ones. Whether through a romantic dinner or a weekend getaway, it is a great reason to travel. This year especially since Valentine’s Day falls on a Friday. Agoda offers great value deals for flights, accommodations, and various travel activities to help couples celebrate the day of love with joy and memorable experiences.”

For couples planning Valentine’s Day travel, Agoda provides access to over 5 million accommodations, more than 130,000 flight routes, and over 300,000 activities, all available on the platform. Download the Agoda app for the latest special deals or visit www.agoda.com/deals.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/agoda-thai-couples-lead-asia-in-domestic-travel-for-valentines-day-302375821.html

SOURCE Agoda

Continue Reading

Technology

ACKO Unveils New Brand Identity: What it Means for Policyholders

Published

on

By

BANGALORE, India, Feb. 13, 2025 /PRNewswire/ — ACKO, India’s leading digital insurer, has unveiled a bold new brand identity and visual system to reflect its commitment to providing innovative and seamless insurance solutions to Indians. As part of the rebranding, ACKO has introduced a new vibrant logo and visual assets, conveying the company’s core values of trust, transparency, and reliability.

ACKO was founded in 2016 with the vision to leverage technology and data to make insurance simple, affordable, and accessible to all Indians. Over the years, the company has disrupted the traditional insurance sector by introducing many industry-first innovations like bite-sized auto insurance products, usage-based insurance, and real-time claim settlement. The rebranding aims to reinforce ACKO’s position as a new-age insurer that is disrupting traditional models and norms.

The company’s new logo features a bold and minimalistic wordmark with clean lines and vibrant gradient colours. The visual assets and imagery showcase human stories that are positive, energetic, and relatable. ACKO aims to build authentic connections and trust with the fast-growing digital consumer base in India through this rebranding.

Speaking about the change, ACKO believes that its new brand identity is modern, human, and reflective of its values. The vibrant purple colours represent the energy and innovation that ACKO as a brand exudes. The imagery tells compelling human stories that its audience can relate to.

As ACKO continues to scale exponentially, its rebranding signifies the next phase in its growth journey. They aim to drive deeper brand love and recall as they move forward in their mission to make insurance accessible to all Indians.

Key Highlights of ACKO’s Rebranding:

New Logo:

The new ACKO logo features a minimalistic wordmark, doing away with the quirky logo. The sharp and bold ACKO typography with clean lines represents the company’s tech-driven approach. The gradient purplish colour infuses vibrancy and human warmth. The logo shape can morph and extend into different geometrical shapes and layouts for adaptability across platforms.

Visual System:

The new visual system is bright, and energetic and uses vibrant shades of purple, white, and pink—moving away from the traditional bike and car insurance palette. The imagery focuses on human stories and emotions that consumers can relate to. ACKO aims to build authenticity and trust through this vibrant, warm, and energetic identity.

Advertising Campaign:

In tandem with the rebranding, ACKO also rolled out a new brand campaign, with actors like Sanjay Dutt and Arshad Warsi, to promote its revamped identity. The campaign reinforces ACKO’s core proposition of making car and bike insurance effortless and straightforward for consumers. It features quirky scripts to underscore how ACKO Insurance makes life easier amidst complex daily situations.

Easy Interfaces:

ACKO has refreshed its user interfaces across websites and apps to reflect the new brand identity. The interfaces are now more vibrant, inviting, and intuitive, which delivers a smooth experience. Illustrations and minimalistic iconography are used extensively to enhance engagement.

Their new brand identity is contemporary, relatable, and distinctive. It symbolises ACKO’s promise of using technology in innovative ways to make insurance joyful. This is an important milestone in their journey towards democratising insurance coverage for Indians.

ACKO currently serves over 8 crore users across motor, health and travel insurance. It aims to further accelerate growth and achieve greater brand salience powered by this rebranding.

About ACKO

ACKO Technology and Services Pvt Ltd. is a new-age insurance company that leverages technology, data, and innovation to make insurance simple, convenient, and transparent for consumers. Founded in 2016 by Varun Dua, ACKO is India’s first digital insurer with a 100% paperless onboarding process. ACKO provides motor, health, and travel insurance to over 8 crore customers across the country. With its direct-to-consumer model and omnichannel presence, ACKO aims to deliver delightful customer experiences end-to-end. ACKO is backed by marquee investors. The company is headquartered in Bangalore. For more information, visit www.acko.com.

 

View original content:https://www.prnewswire.com/in/news-releases/acko-unveils-new-brand-identity-what-it-means-for-policyholders-302375827.html

Continue Reading

Trending