Packaging Corporation of America (PCA) is a U.S.-based enterprise specializing in the production and sale of containerboard and corrugated packaging materials. Its ...
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$5.25 per share
Est. EPS $2.93 · Revenue $2.61B · 7 analysts
$5.25 per share
Est. EPS $2.92
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $9.0B | +7.2% | +5.2% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $768.9M | -4.5% | +12.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +21.0% | -1.2% | +7.6% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +14.0% | +6.3% | +16.2% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +8.6% | -10.9% | +6.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $728.6M | +39.7% | +3.3% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +8.1% | +30.3% | -1.7% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 94.9% | +50.8% | -0.7% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 3.17x | -1.9% | -4.2% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $10.9B | +23.7% | +2.2% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 8.58 vs 9.93 | -13.6% | 2.15 vs 2.93 | -26.6% |
| Revenue Surprise | $9.0B vs $9.1B | -1.0% | $2.5B vs $2.6B | -4.7% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Shirley Donald R. | officer: Exec. VP | Common Stock | D | 12,000 | $250.71 |
| Aug 7, 2026 | Hassfurther Thomas A | officer: President | Common Stock | D | 7,063 | $254.00 |
| Aug 5, 2026 | Hassfurther Thomas A | officer: President | Common Stock | D | 8,797 | $257.00 |
| Aug 3, 2026 | Hassfurther Thomas A | officer: President | Common Stock | D | 12,531 | $250.00 |
| May 27, 2026 | KOWLZAN MARK W | director, officer: Chairman & CEO | Common Stock | D | 9,266 | $217.08 |
Operator: Thank you for joining Packaging Corporation of America's Second Quarter 26 Earnings Results Conference Call. Your host today will be Mark W. Kowlzan, Chairman and Chief Executive Officer of PCA. Upon conclusion of his narrative, there will be a Q&A session. I would now like to turn the floor over to Mr. Kowlzan. Please proceed when you are ready. Mark W. Kowlzan: Thanks, Jamie, and good morning, everyone, and thank you all for participating in Packaging Corporation of America's second quarter 26 Earnings Release Conference Call. Again, I am Mark W. Kowlzan, Chairman and CEO of Packaging Corporation of America. And with me on the call today is Tom Hassfurther, president and Kent A. Pflederer, our chief financial officer. I will begin the call as usual with an overview of our second quarter results and then I will be turning the call over to Tom and Kent who will provide further details. I will then wrap things up, and then we will be glad to take questions. Yesterday, we reported second quarter net income of $192 million or $2.15 per share. Excluding special items, the second quarter 26 net income was $210 million or $2.35 per share compared to the second quarter of 25's net income of $224 million or $2.48 per share. Second quarter net sales were $2.5 billion and 2026 and $2.2 billion in 2025. Total company EBITDA for the second quarter is excluding special items, $486 million in 2026, $451 million in 2025. Second quarter net income included special items expense of $0.20 per share, primarily for costs and write offs related to facilities closures, Wallula Mill restructuring charges and costs related to the acquisition and integration of the Greif containerboard business. Details of the special items for the second quarter of 26 and 2025 were included in the schedules that accompanied the press release. Excluding the special items, our earnings decreased by $0.13 per share compared to the second quarter of 25 resulting from a $0.27 decrease in legacy business earnings. Partially offset by $0.14 of earnings from the acquired Greif business. The decrease in the legacy earnings was driven primarily by higher freight costs of $0.26 higher corporate and other expenses, $0.12, lower price and mix in the packaging business, $0.11, higher labor and operating costs, $0.05, higher depreciation and amortization expenses, $0.03, higher fiber costs, $0.02, higher tax rates, $0.02, and higher interest expense. Excluding the Greif acquisition, indebtedness for $0.01. These items were partially offset by higher production and sales volume in the packaging business for $0.26, lower maintenance outage expense, $0.04, higher production and sales volume in the paper business for $0.03, and higher price and mix in the paper business, $0.02. Greif's earnings were driven by strong volumes in the corrugated business and improved operating performance in the mills and included a $0.04 benefit to depreciation expense due to measurement period adjustments to the …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Mark W. Kowlzan | Chairman of the Board & Chief Executive Officer | USD 4,717,698 | Male | 1956 | Active |
Thomas A. Hassfurther | President | USD 3,467,942 | Male | 1956 | Active |
Charles J. Carter | Executive Vice President of Mill Operations | USD 2,335,617 | Male | 1960 | Active |
Kent A. Pflederer | Executive Vice President & Chief Financial Officer | USD 1,829,366 | Male | 1971 | Active |
Donald Ray Shirley | Executive Vice President of Corrugated Products | USD 1,780,496 | Male | 1972 | Active |
Joseph W. Vaughn | Senior Vice President of Engineering & Operations Support | — | Male | 1963 | Active |
Heidi L. Patton | Senior Vice President of Containerboard Sales & Supply Chain | — | Female | 1969 | Active |
Darla J. Olivier | Senior Vice President of Tax, ESG & Government Affairs | — | Female | 1970 | Active |
Fabian C. Strauss | Principal Accounting Officer, Senior VP of Finance, Controller & Treasurer | — | Male | 1981 | Active |
Packaging Corporation of America NYSE: PKG reported lower adjusted earnings for the second quarter of 2026 compared with the prior year, even as sales and EBITDA increased, with management citing strong corrugated demand, higher freight costs and contributions from the recently acquired Greif containerboard business.
Packaging Corporation of America (PKG) Q2 2026 Earnings Call Transcript
PKG's Q2 earnings beat estimates as record corrugated shipments and the Greif acquisition boost volumes despite pricing pressure and higher costs.
Packaging Corporation of America remains a strong operator, but shares are overvalued at 20x earnings amid persistent cost headwinds. PKG's Q2 saw record shipment volumes and pricing actions, yet margin gains are offset by rising freight, electricity, and input costs. Despite a robust balance sheet and stable 2.6% dividend, PKG's premium valuation is unjustified given limited profit acceleration prospects.
Packaging Corp. (PKG) came out with quarterly earnings of $2.35 per share, beating the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $2.48 per share a year ago.
