Finance: Page 20

  • Close up view of stacked corrugated cardboard.
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    DS Smith anticipates improved box volumes following dip that dragged down financial results

    The U.K.-based packaging company is investing heavily in innovation, especially to help customers replace plastic products with fiber.

    By • June 26, 2023
  • Wide shot of Stora Enso's headquarters in Finland.
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    "Stora Enso headquarters" by I99pema is licensed under CC BY-SA 4.0
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    Stora Enso to lay off 1,150 employees amid restructuring

    The Finland-based fiber and forestry company is making changes at facilities in multiple countries to boost profitability and competitiveness after signaling financial trouble for months.

    By • June 15, 2023
  • People at work in a large warehouse full of boxes.
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    Data from CPI, Fed and cardboard box sales may signal slowing economy

    A broadening “cardboard box recession” could be a harbinger of a wider global recession. 

    By • Updated June 15, 2023
  • Close up view of stacked corrugated cardboard.
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    Destocking is out, higher-priced ‘urgent orders’ are in, Greif CEO says

    Although the company’s numbers were down year over year, executives reiterated that this Q2 was the second-strongest in company history. They also discussed initial results from recent acquisitions.

    By • June 14, 2023
  • A headshot of Deon Stander of Avery Dennison.
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    Retrieved from Avery Dennison on May 24, 2023
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    Avery Dennison announces new CEO and current leader’s retirement

    Deon Stander, currently president and chief operating officer, will take over as CEO later this year.

    By • May 24, 2023
  • Smurfit Kappa facility
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    Courtesy of Smurfit Kappa https://www.smurfitkappa.com/newsroom/2023/40-million-euro-investment-in-state-of-the-art-technology-in-poland
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    Packaging manufacturing investments and expansions in 2023

    Amid an industry theme of pullbacks in production, companies including Smurfit Kappa, PulPac and Berry Global have all recently shared expansion updates.

    By • May 16, 2023
  • A close-up of the creamy exterior of the Department of Labor building.
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    Caroline Colvin/Packaging Dive
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    US inflation again eased in April

    The plastics manufacturing workforce saw a little growth last month, while paper manufacturing’s workforce declined.

    By • May 12, 2023
  • Workers sort packages at the Amazon AGS5 facility on October 27, 2022 in Appling, Georgia.
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    Sean Rayford via Getty Images
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    Amazon, Yum Brands, Kroger face upcoming shareholder votes on circular packaging

    Yum Brands — the fast-food corporation behind KFC, Pizza Hut and Taco Bell — is set to consider a proposal Thursday on single-use packaging, with meetings at Amazon and Restaurant Brands International to follow next week.

    By • May 10, 2023
  • Plastic takeout containers with chicken sandwiches in a commercial refrigerator
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    Pactiv Evergreen gives updates on restructuring and shifting consumer spending

    CEO Michael King said the company is adapting to tighter consumer spending and gave an estimated June date for previously announced facility closures in Arkansas and North Carolina.

    By • May 10, 2023
  • A person carrying a tote bag looks at items on a grocery store shelf
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    Brandon Bell via Getty Images
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    Destocking effects linger for packaging manufacturers

    Q1 and April inventory trends — and what they might mean for the second half of the year —  were discussed by paper, glass, metal and plastic packaging executives in recent earnings calls.

    By , • May 9, 2023
  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    Berry execs talk consolidation, shifting priority sectors

    The company is “rationalizing” 15 facilities across the world — and more could be affected — to boost efficiencies and productivity.

    By • May 8, 2023
  • Ball cans and bottles.
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    Permission granted by Ball Corporation
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    Ball’s beverage can shipments decline amid weaker consumer spending

    Executives said Ball will continue to take downtime at facilities in Q2, and it’s moving forward to close a plant in Wallkill, New York. The coming summer months and new products offer some reasons for optimism, though.

    By • May 5, 2023
  • A WestRock building in Richmond, VA.
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    "@westrockcompany downtown near Tredegar and the Fed." by phil nunnally is licensed under CC BY 2.0
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    WestRock sees ‘unprecedented drop in volumes,’ will continue closing inefficient facilities

    Streamlining measures are helping to “successfully navigate this slower demand environment,” said CEO David Sewell.

    By • May 4, 2023
  • The new logo for SEE, the rebrand of Sealed Air.
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    Courtesy of SEE
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    Sealed Air rebrands as SEE, emphasizing automation and digital solutions

    The announcement came as the global packaging company reported results from a “tough quarter” but outlined 2027 growth plans on multiple fronts, including through its recently finalized Liquibox acquisition.

    By • May 4, 2023
  • Jerome Powell, testimony, U.S. House, Financial Services Committee
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    Getty Images
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    Federal Reserve hikes main rate while ‘highly attentive to inflation risks’

    It raised the main interest rate by a quarter percentage point and suggested that in the future it may pause its most aggressive monetary policy in four decades, depending on incoming data on inflation and other factors.

    By Jim Tyson • May 4, 2023
  • Amcor logo
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    Permission granted by Amcor
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    Amcor plans further labor cuts as weak demand and destocking persist

    The company lacks optimism that market challenges will abate in the near term. Executives foresee volume weakness during what is typically the seasonally strongest quarter for the North American beverage business.

    By • May 3, 2023
  • A Graphic Packaging International building and parking lot.
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    Jordiferrer, CC BY-SA 3.0, via Wikimedia Commons

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    Graphic Packaging touts diverse end market portfolio, launches Chick-fil-A insulated fiber cups

    Executives lauded gains in the face of challenging Q1 fiber demand, while announcing a new partnership for insulated, double-walled fiber cups to displace plastic foam.

    By • May 2, 2023
  • Rows of aerosol cans.
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    Getty Images
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    Sonoco reports food packaging sales helped balance weak quarter for aerosols

    “We are cautiously optimistic about the remainder of the year,” CFO Rob Dillard said on a Tuesday earnings call, as the company raised aspects of its full-year guidance.

    By • May 2, 2023
  • Green glass bottles.
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    How packaging manufacturers fared in Q1

    Follow what top companies said in quarterly earnings reports about consolidation efforts, consumer demand and projections for the rest of 2023.

    By Packaging Dive Staff • Updated May 10, 2023
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    International Paper earnings down as March brought ‘surprise’ demand dropoff

    The longer and deeper period of inventory destocking has taken a toll, but April has shown a notable uptick in box sales.

    By • April 28, 2023
  • Consumer shops for milk
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    Consumer confidence sinks, implying downturn to come

    Weakening optimism among consumers, as measured by the Conference Board, coincides with a decline in credit.

    By Jim Tyson • April 27, 2023
  • O-I Glass worker inspects glass bottles
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    Courtesy of O-I Glass
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    O-I Glass sees lower volumes in Q1 but raises 2023 earnings guidance

    Higher selling prices helped overcome year-over-year sales volume declines, which O-I attributed in part to disruptive events, customer destocking and softer consumer demand in some areas.

    By • April 27, 2023
  • Can manufacturing line
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    Crown reports sales growth in Americas Beverage, hopes for carbonated soft drinks uptick

    Can volumes were down 2.5% amid inflation’s impact on consumers and economic slowdowns in some international markets, said CEO Tim Donahue. The company anticipates summer trends could boost drink sales soon.

    By • April 26, 2023
  • A sign outside a building says Packaging Corporation of America.
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    PCA misses earnings targets due to box demand ‘well below our expectations’

    Despite indicators becoming “more negative as the months went on” related to containerboard demand, executives from Packaging Corporation of America said they’ve seen volumes turn around in April.

    By • April 25, 2023
  • Puzzle pieces with packaging
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    Photo illustration: Shaun Lucas/Industry Dive; Getty Images

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    Tracking packaging mergers and acquisitions in 2026

    CCL plans to acquire Sleever, SupplyOne is expanding in food packaging in New England, ProMach is growing flexible packaging capabilities in Ohio, and Imperial Dade and BradyPlus have combined.

    By , , • Updated 9 hours ago