Highlights

  • Second quarter 2026 net income was USD 50.3 million, or USD 0.17 per share, against a USD 26.1 million loss.
  • Six-month net loss was USD 184.7 million, or USD 0.66 per share; the Husky Transaction closed January 12, 2026.
  • GPGI recorded USD 67.1 million of earnings from its equity method investment in GPGI Holdings in the second quarter.
  • A putative securities class action filed July 14, 2026 covers Class A purchasers from November 3, 2025 to May 6.

GPGI, Inc. (NYSE: GPGI) shares closed at USD 11.34 on October 23, 2026, down 9.64%. The company completed the Husky Transaction in January, reincorporated in Nevada in June and filed its quarterly report for the period ended June 30, 2026 in August.

GPGI is headquartered in Somerset, New Jersey, and is incorporated in Nevada. Through its wholly owned subsidiary GPGI Holdings, it describes itself as a permanent capital platform that acquires, operates and scales businesses. GPGI Holdings owns CompoSecure, a maker of premium metal payment cards and secure authentication solutions founded in 2000, and Husky, an injection molding equipment, tooling and services business founded in 1953 and based in Bolton, Ontario. Resolute Holdings provides management services under separate agreements, and the company's results are reported on a calendar year.

Second Quarter Results

GPGI reported net income of USD 50.3 million for the three months ended June 30, 2026, or USD 0.17 per basic and diluted share, compared with a net loss of USD 26.1 million, or USD 0.26 per share, a year earlier. Earnings in the equity method investment were USD 67.1 million, up from USD 38.9 million. The company reported a loss before equity earnings of USD 16.8 million, against a loss of USD 65.0 million in the second quarter of 2025.

For the six months ended June 30, 2026, GPGI reported a net loss of USD 184.7 million, or USD 0.66 per share, against a net loss of USD 4.6 million, or USD 0.05 per share. The six-month figure includes a loss of USD 87.0 million from the equity method investment, compared with earnings of USD 53.7 million in the prior-year period.

The company also reports non-GAAP adjusted earnings per share. Adjusted diluted EPS was USD 0.17 for the second quarter, compared with USD 0.28 basic and USD 0.25 diluted a year earlier. These are non-GAAP measures and are reconciled to GAAP net income in the filing.

Structure and the Husky Transaction

GPGI has not consolidated GPGI Holdings since the February 2025 spin-off of Resolute Holdings. It accounts for GPGI Holdings under the equity method, so its own statements mainly show corporate costs, taxes and its share of GPGI Holdings earnings. The filing states that Husky is also not consolidated by GPGI.

The Husky Transaction closed on January 12, 2026. GPGI issued 161,034,417 shares of Class A common stock in connection with it and invested USD 2,120.4 million in GPGI Holdings during the six months. It received USD 1,962.0 million of proceeds from the share issuance.

As part of the related financing, the structure includes USD 900 million of 5.625% senior secured notes due 2033, a USD 1,200 million term loan maturing in 2033 and USD 400 million of revolving credit commitments maturing in 2031. The proceeds refinanced Husky's existing debt and paid related costs.

Dividend, Balance Sheet and Reincorporation

GPGI held USD 7.7 million of cash and cash equivalents at June 30, 2026, against USD 114.6 million at the start of the year. Stockholders' equity was USD 3,172.3 million. The company paid USD 1.5 million of dividends to Class A shareholders in the six months.

On August 6, 2026, the board declared a quarterly cash dividend of USD 0.0025 per share on the Class A common stock. On June 5, 2026, the company completed its reincorporation from Delaware to Nevada, and each share converted into one share of Nevada Class A common stock.

Legal Proceedings

On July 14, 2026, a putative securities class action, City of Warren Police and Fire Retirement System v. GPGI, Inc., et al., was filed in the United States District Court for the Southern District of New York. The complaint names the company, certain officers and directors, and Resolute Holdings.

It alleges that public statements were materially false or misleading regarding the valuation of Husky and the anticipated benefits of the acquisition. It asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 for purchasers of Class A common stock between November 3, 2025 and May 6, 2026. The company states that it believes it has meritorious defenses.