The mixed Q2 results with a strong CompoSecure offset by a weak Husky are largely priced in after the Q1 guidance revision. The key catalyst is the second-half Husky recovery thesis — monitor monthly order/pipeline data and resin price trends for confirmation. The reiterated FY26 guidance provides a floor, but execution risk remains high given macro headwinds.
Price Chart
Executive Summary
GPGI reported Q2 2026 results in line with revised guidance, with record performance at CompoSecure (Adjusted Net Sales +11.7% YoY to $133.6M, Pro Forma Adjusted EBITDA +13.6% to $55.2M) offset by continued weakness at Husky (Pro Forma Adjusted Net Sales -9.2% to $339.6M, Pro Forma Adjusted EBITDA -22.6% to $64.9M) due to elevated oil/resin prices and tariff uncertainty. The company reiterated its full-year 2026 guidance for flat organic revenue growth and Pro Forma Adjusted EBITDA up 7% at the midpoint, signaling confidence in a second-half recovery at Husky. A quarterly dividend of $0.0025 per share was declared, a trivial capital return event.
Key Financial Metrics
Key Facts
- Pro Forma Adjusted Net Sales of $473.2M, down 4.1% YoY from $493.7M
- Pro Forma Adjusted EBITDA of $113.9M, down 12.5% YoY from $130.2M
- Pro Forma Adjusted EBITDA margin of 24.1%, down 230 bps YoY
- CompoSecure: Record Adjusted Net Sales of $133.6M, up 11.7% YoY; Pro Forma Adjusted EBITDA of $55.2M, up 13.6% YoY; margin expanded ~70 bps to 41.3%
- Husky: Pro Forma Adjusted Net Sales of $339.6M, down 9.2% YoY; Pro Forma Adjusted EBITDA of $64.9M, down 22.6% YoY; margin contracted ~330 bps to 19.1%
- GAAP Net Income of $50.3M vs. a GAAP Net Loss of $26.1M in Q2 2025
- Adjusted diluted EPS of $0.17 vs. $0.25 in Q2 2025
- FY26 guidance reiterated: Pro Forma Adjusted Net Sales $1.95B-$2.10B (flat YoY at midpoint), Pro Forma Adjusted EBITDA $550M-$610M (+7% YoY at midpoint)
- Quarterly cash dividend of $0.0025 per share declared, payable Sept 1, 2026
- Net debt of $2.0B; LTM Net Debt / Pro Forma Adjusted EBITDA of 3.9x
Financial Impact
Pro Forma Adjusted Net Sales declined $20.5M YoY (-4.1%); Pro Forma Adjusted EBITDA declined $16.3M YoY (-12.5%)
Risk Factors
- Husky demand recovery fails to materialize in 2H26 due to prolonged oil/resin price shock or tariff uncertainty
- Further deterioration in Middle East conflict disrupting Husky's supply chain or customer demand
- Inability to achieve planned cost savings at Husky, delaying margin expansion
- Elevated leverage (3.9x LTM Net Debt / EBITDA) limits financial flexibility if downturn persists
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-053821 |
| Document: gpgi_2q26earningspressre.htm | 0001628280-26-053821 |
| Document: cmpo-20260806.htm | 0001628280-26-053821 |
| Document: 0001628280-26-053821-index-headers.html | 0001628280-26-053821 |
| Document: 0001628280-26-053821-index.html | 0001628280-26-053821 |
| Document: 0001628280-26-053821.txt | 0001628280-26-053821 |
| 8-K Data (Synthetic) | 0001628280-26-053821 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 8w ago | Press Release | $14.35 $13.19 | ▲ +8.08% | ▲ +8.04% | $12.90 (+10.10%) |
Aug 6, 2026 8w ago | 8-K | $14.98 $12.92 | ▼ −13.75% | ▼ −14.96% | $12.90 (−13.89%) |
Jul 28, 2026 9w ago | Press Release | $13.34 $15.22 | ▼ −14.09% | ▼ −8.56% | $12.90 (+3.30%) |
Jul 15, 2026 11w ago | Press Release | $14.91 $14.07 | ▲ +5.63% | ▲ +3.96% | $12.90 (+13.48%) |
Jun 15, 2026 15w ago | Insider Buy | $14.57 $14.34 | ▼ −1.58% | ▼ −0.20% | $12.90 (−11.46%) |
Jun 12, 2026 16w ago | Institutional Cluster | $12.80 $14.42 | ▲ +12.66% | ▲ +11.98% | $12.90 (+0.78%) |
Jun 11, 2026 16w ago | Institutional Cluster | $12.16 $14.12 | ▲ +16.12% | ▲ +15.68% | $12.90 (+6.09%) |
Jun 5, 2026 16w ago | 8-K | $11.89 $14.57 | ▲ +22.54% | ▲ +20.43% | $12.90 (+8.49%) |
May 28, 2026 18w ago | DEFA14A | $12.16 $11.89 | ▲ +2.22% | ▼ −0.30% | $12.90 (−6.09%) |
May 15, 2026 19w ago | Insider Cluster | $12.04 $12.60 | ▲ +4.65% | ▲ +3.03% | $12.90 (+7.14%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access