Finance: Page 2


  • Quality inspection at an Owens-Illinois glass manufacturing facility
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    Courtesy of O-I
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    O-I blames destocking as down quarter gives way to lower 2024 projections

    O-I Glass muted sales volume estimates amid consumer weakness, and it expects customers’ excess capacity may temper typical seasonal demand. But April showed improvements over recent quarters, executives said.

    By May 2, 2024
  • Machinery inside Graphic Packaging International's Kalamazoo, Michigan, paperboard production plant.
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    Permission granted by Graphic Packaging International
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    Graphic Packaging sees volumes improve, finalizes Georgia mill sale

    Executives on Tuesday’s earnings call emphasized progress with “innovation” sales, including for the Boardio rigid fiber canisters, Nissin Cup Noodles fiber cups and Chick-fil-A fiber cold beverage cups.

    By May 2, 2024
  • Close-up view of flat, stacked corrugated boxes.
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    SafakOguz via Getty Images
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    International Paper to raise fiber product prices again, others likely to follow, analysts say

    A fresh wave of increases, reportedly occurring in June, could further rile markets following a monthslong controversy over price acceptance.

    By May 1, 2024
  • Amcor logo
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    Permission granted by Amcor
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    Destocking abates, but healthcare market still a sticking point, Amcor says

    Interim CEO Peter Konieczny also weighed in on packaging regulations advancing in the EU and the potential extension of some companies’ sustainability targets during a Tuesday earnings call.

    By May 1, 2024
  • The tops of silver tabbed beverage cans
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    LordRunar via Getty Images
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    Crown projects up to 5% volume growth in North America this year

    CEO Tim Donahue said that after notable destocking in the fourth quarter, business is bouncing back in Europe this year, where one of two new plants recently got up and running.

    By April 30, 2024
  • Two people reading a document in an industrial workplace setting.
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    Permission granted by JBM Packaging
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    Deep Dive

    Second chance hiring can bridge labor gaps, break employment barriers

    Although some companies say they initially hire formerly incarcerated individuals to overcome a labor shortage, these programs can lead to less employee churn, lower recidivism and life-changing impact, advocates say.

    By April 30, 2024
  • Ball cans and bottles.
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    Permission granted by Ball Corporation
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    Ball navigates shifting beverage markets after aerospace sale, Bud Light boycott

    Volumes and mix for Ball are shifting as the beer market resets. In the can maker’s first earnings call since completing the sale of its aerospace business, executives detailed plans for significant stock buybacks in 2024.

    By April 29, 2024
  • Flexible plastic packaging pouches
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    Romeo Gacad via Getty Images
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    Packaging manufacturers discuss Q1 trends

    Catch up on the latest earnings commentary from Berry, Sonoco, O-I, Graphic Packaging, Amcor, Crown, PCA, International Paper and Ball.

    By Packaging Dive Staff • Updated May 10, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    Fire and ice cool International Paper’s Q1 earnings

    January and February incidents resulted in notable charges. CEO Mark Sutton, during his last earnings call before retirement, discussed volume trends but didn’t comment on the announced DS Smith acquisition.

    By April 26, 2024
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    Fiber markets move toward recovery from pandemic-era imbalances

    Paper packaging and board demand is pulling up from a 3% dip last year, according to analysts from Fastmarkets RISI, Bank of America Global Research and Truist Securities. But pricing controversy remains.

    By April 24, 2024
  • Bundled stacks of flat corrugated boxes.
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    samritk via Getty Images
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    PCA’s corrugated product shipments rise as demand rebounds

    Demand in Q1 exceeded Packaging Corp. of America's expectations, said CEO Mark Kowlzan. Executives again expressed frustration with the impact of Fastmarkets RISI’s pricing index and noted the search for alternative methods.

    By April 23, 2024
  • Exterior view of DS Smith's packaging plant in Lebanon, Indiana
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    Permission granted by DS Smith
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    Acquisition of DS Smith

    International Paper-DS Smith deal faces few barriers following Mondi’s exit, analysts say

    The companies don’t expect regulator pushback thanks to their complementary geographies. Although IP outlined efforts to prevent disruption to existing employees, 400 layoffs could result from the deal.

    By April 22, 2024
  • A large roll of kraft paper, part of Mondi Group's kraft paper production in Sweden
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    Courtesy of Mondi Group Plc
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    Acquisition of DS Smith

    Mondi ends bid for DS Smith following International Paper deal

    Mondi’s announcement comes days after the boards of International Paper and DS Smith recommended that those two companies combine and days before a deadline to submit a potential counteroffer.

    By April 19, 2024
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    Acquisition of DS Smith

    International Paper announces all-share agreement to acquire DS Smith, valued at $7.2B

    The deal bests a preliminary purchase proposal from rival Mondi. It comes one week before a deadline to submit formal offers for acquiring the London-based paper packaging company.

    By April 16, 2024
  • Wide shot of a building exterior with the "Myplas" logo.
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    Permission granted by Myplas
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    Eviction threat looms as film recycler Myplas accrues $1.3M in unpaid bills

    Unexpected financial challenges occurred shortly after the company launched its highly anticipated Minnesota polyethylene film recycling operation in December, according to Peter Shippen, Myplas board chair.

    By Updated April 15, 2024
  • Rows of industrial hemp growing in a farm field.
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    AndrisTkachenko via Getty Images
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    Q&A

    Is hemp the next revolution for sustainable packaging? Startup element6 Dynamics thinks so.

    CEO Kimberly Kovacs details the company’s push to use industrial hemp for making paper and packaging, which she says is a more sustainable option than tree pulp.

    By April 8, 2024
  • O-I Glass global headquarters.
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    Courtesy of O-I Glass
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    O-I Glass names new CEO as longtime leader prepares to retire

    Gordon Hardie, a board member, will take over in mid-May as Andres Lopez plans to retire after nearly 40 years with the company.

    By April 4, 2024
  • Exterior view of DS Smith's packaging plant in Lebanon, Indiana
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    Permission granted by DS Smith
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    Acquisition of DS Smith

    DS Smith extends Mondi’s offer deadline, IP details its counterproposal

    The bidding war for DS Smith heats up as Mondi’s offer deadline is now set for the same day as International Paper’s. IP provided additional specifics about its proposal, including plans to create a second headquarters.

    By April 4, 2024
  • A wide aerial shot of ND Paper's mill in Biron, Wisconsin.
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    Retrieved from ND Paper on April 02, 2024
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    ND Paper, Opus, Jindal among March plant shutdown announcements

    More than 300 employees are expected to be affected by temporary or permanent shutdowns in Georgia, Maine, Michigan and Wisconsin.

    By April 2, 2024
  • Close-up of brown corrugated packaging
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    Lisa Beeby via Getty Images
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    Acquisition of DS Smith

    Bidding war speculation brews as International Paper proposes DS Smith acquisition

    IP’s more than $7 billion proposal comes as next week’s deadline approaches for Mondi to make a formal offer for DS Smith.

    By March 27, 2024
  • A plastic bag made with postconsumer recycled bag holding romaine hearts, featuring the Andy Boy logo.
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    Permission granted by Emerald Packaging
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    Emerald bullish on PCR as produce packaging company marks transition

    Co-owner Jim Kelly is stepping down from his EVP role as he reflects on decades of innovation in the produce market. The family business looks to forge ahead on recycled content implementation in flexible packaging.

    By March 26, 2024
  • Three people sit around a table on a Nasdaq interview show, with a table containing Verde bioplastic products
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    Retrieved from Nasdaq.
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    Bioplastics player Verde Bioresins terminates SPAC deal

    The California-based company, which sells a “PolyEarthylene” alternative to virgin plastics, sought to scale up production more quickly by going public. The deal was called off this month after multiple delays.

    By March 21, 2024
  • Amcor logo
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    Permission granted by Amcor
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    Amcor CEO retiring due to health reasons

    The company’s chief commercial officer will serve as interim CEO during the search for Ron Delia’s permanent replacement.

    By March 20, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    International Paper names Andrew Silvernail as next CEO

    Silvernail will take over in May for Mark Sutton, who is stepping down after four decades with the company.

    By Updated March 19, 2024
  • Plastic waste on a sandy beach. Pollution of the waters of the world ocean by plastic. Polluted beach in Los Angeles, USA
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    Konoplytska via Getty Images
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    As You Sow stays the course with plastic reduction resolutions despite ESG headwinds

    “I think this is a really difficult year for shareholder resolutions,” said Kelly McBee, circular economy manager at As You Sow. To date, its 2024 consumer packaging efforts target Altria, Amazon and others.

    By March 13, 2024