** Shares of Graphic Packaging GPK.N up 8.6% at $10.39 premarket
** The consumer packaging provider posts Q1 sales of $2.16 billion — above analysts' average estimate of $2.05 billion, per LSEG data
** Q1 adjusted EPS of $0.09 beat estimate of $0.06
** GPK cut more than 500 jobs, plans to divest non-core Croatian assets
** Sales growth was driven by a 1% increase in volume and $50 million favorable foreign exchange impact, partially offset by lower pricing
** As of last close, GPK stock down 36.5% YTD
(Reporting by Tharuniyaa Lakshmi in Bengaluru)
((tharuniyaa@thomsonreuters.com))