Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Graphic Packaging Holding (NYSE: GPK) and the best and worst performers in the industrial packaging industry.

Industrial packaging companies have built competitive advantages from economies of scale that lead to advantaged purchasing and capital investments that are difficult and expensive to replicate. Recently, eco-friendly packaging and conservation are driving customers preferences and innovation. For example, plastic is not as desirable a material as it once was. Despite being integral to consumer goods ranging from beer to toothpaste to laundry detergent, these companies are still at the whim of the macro, especially consumer health and consumer willingness to spend.

The 7 industrial packaging stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.6%.

While some industrial packaging stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.6% since the latest earnings results.

Graphic Packaging Holding (NYSE: GPK)

Founded in 1991, Graphic Packaging (NYSE: GPK) is a provider of paper-based packaging solutions for a wide range of products.

Graphic Packaging Holding reported revenues of $2.19 billion, flat year on year. This print exceeded analysts’ expectations by 0.8%. Overall, it was a strong quarter for the company with a solid beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations.

"We continued to execute against our near-term strategic priorities and delivered solid second quarter performance, with Adjusted EBITDA at the top of our guidance range despite greater than anticipated inflation," said Robbert Rietbroek, President and Chief Executive Officer.

Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.7% since reporting and currently trades at $10.93.

Is now the time to buy Graphic Packaging Holding? Access our full analysis of the earnings results here, it’s free.

Best Q2: Avery Dennison (NYSE: AVY)

Founded as Kum Kleen Products, Avery Dennison (NYSE: AVY) is a manufacturer of adhesive materials, display graphics, and packaging products, serving various industries.

Avery Dennison reported revenues of $2.46 billion, up 10.9% year on year, outperforming analysts’ expectations by 7.3%. The business had a stunning quarter with a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 6.3% since reporting. It currently trades at $177.72.

Is now the time to buy Avery Dennison? Access our full analysis of the earnings results here, it’s free.

Packaging Corporation of America (NYSE: PKG)

Founded in 1959, Packaging Corporation of America (NYSE: PKG) produces containerboard and corrugated packaging products as well as displays and package protection.

Packaging Corporation of America reported revenues of $2.49 billion, up 14.7% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates and EPS guidance for next quarter missing analysts’ expectations.

Interestingly, the stock is up 9.7% since the results and currently trades at $250.36.

Read our full analysis of Packaging Corporation of America’s results here.

Crown Holdings (NYSE: CCK)

Formerly Crown Cork & Seal, Crown Holdings (NYSE: CCK) produces packaging products for consumer marketing companies, including food, beverage, household, and industrial products.

Crown Holdings reported revenues of $3.67 billion, up 16.5% year on year. This result topped analysts’ expectations by 9.3%. It was an exceptional quarter as it also logged full-year EPS guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

The stock is up 2% since reporting and currently trades at $116.82.

Read our full, actionable report on Crown Holdings here, it’s free.

International Paper (NYSE: IP)

Established in 1898, International Paper (NYSE: IP) produces containerboard, pulp, paper, and materials used in packaging and printing applications.

International Paper reported revenues of $6.00 billion, down 11.3% year on year. This print came in 3.3% below analysts’ expectations. All in all, it was a mixed quarter for the company.

International Paper had the weakest performance against analyst estimates and slowest revenue growth of the whole group. The stock is down 5.8% since reporting and currently trades at $40.17.

Read our full, actionable report on International Paper here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.