Graphic Packaging Stock Surges Over 12% on Strong Q1 Earnings and Cost-Cutting Plan
Graphic Packaging Holdings (GPK) saw its stock rise over 12% on Tuesday after reporting better-than-expected first-quarter earnings and announcing a cost-cutting initiative. The company exceeded revenue and profit estimates, and management outlined a 90-day business review plan that includes $60 million in cost reductions and a workforce reduction of 500 employees.
Tickers: $GPK
Topics: cost-cutting earnings stock performance workforce reduction