Packaging Corporation of America Reports Fourth Quarter and Full Year 2024 Results
Diluted earnings per share attributable to Packaging Corporation of America shareholders |
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Three Months Ended |
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Full Year Ended |
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December 31 |
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December 31 |
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2024 |
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2023 |
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Change |
|
2024 |
|
2023 |
|
Change |
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Reported Diluted EPS |
$ |
2.45 |
|
|
$ |
2.10 |
|
|
$ |
0.35 |
|
|
$ |
8.93 |
|
|
$ |
8.48 |
|
|
$ |
0.45 |
|
Special Items Expense (1) |
0.02 |
|
|
0.03 |
|
|
(0.01 |
) |
|
0.11 |
|
|
0.21 |
|
|
(0.10 |
) |
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Diluted EPS excluding Special Items (2) (3) |
$ |
2.47 |
|
$ |
2.13 |
|
$ |
0.34 |
|
$ |
9.04 |
|
$ |
8.70 |
|
$ |
0.34 |
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(1) For descriptions and amounts of our special items, see the schedules with this release. |
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(2) Amounts may not foot or crossfoot due to rounding. |
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(3) Diluted EPS excluding Special Items is a non-GAAP financial measure. For information regarding our use of non-GAAP financial measures and descriptions and amounts of our special items, see the schedules with this release. |
Reported earnings in the fourth quarter include special items for closure and other costs related to corrugated products facilities. Reported earnings for the full year 2024 include special items primarily for closure and other costs related to corrugated products facilities and design centers and certain costs at the
Excluding special items, the
Financial information by segment is summarized below and in the schedules with this release.
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(dollars in millions) |
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Three Months Ended |
|
Full Year Ended |
||||||||||||
|
December 31 |
|
December 31 |
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Segment operating income (loss) |
|
|
|
|
|
|
|
||||||||
Packaging |
$ |
297.2 |
|
|
$ |
263.8 |
|
|
$ |
1,101.5 |
|
|
$ |
1,074.3 |
|
Paper |
|
34.8 |
|
|
28.1 |
|
|
129.7 |
|
|
118.9 |
|
|||
Corporate and Other |
|
(29.8 |
) |
|
(30.4 |
) |
|
(129.9 |
) |
|
(118.1 |
) |
|||
|
$ |
302.2 |
|
|
$ |
261.5 |
|
|
$ |
1,101.3 |
|
|
$ |
1,075.1 |
|
|
|
|
|
|
|
|
|
||||||||
Segment operating income (loss) excluding special items |
|
|
|
|
|
|
|
||||||||
Packaging |
$ |
298.9 |
|
|
$ |
265.0 |
|
|
$ |
1,108.1 |
|
|
$ |
1,088.7 |
|
Paper |
|
34.8 |
|
|
30.7 |
|
|
135.5 |
|
|
130.0 |
|
|||
Corporate and Other |
|
(29.8 |
) |
|
(30.4 |
) |
|
(129.9 |
) |
|
(118.1 |
) |
|||
|
$ |
303.9 |
|
|
$ |
265.3 |
|
|
$ |
1,113.7 |
|
|
$ |
1,100.6 |
|
|
|
|
|
|
|
|
|
||||||||
EBITDA excluding special items (1) |
|
|
|
|
|
|
|
||||||||
Packaging |
$ |
425.7 |
|
|
$ |
384.7 |
|
|
$ |
1,597.5 |
|
|
$ |
1,555.7 |
|
Paper |
|
39.3 |
|
|
35.2 |
|
|
153.5 |
|
|
150.6 |
|
|||
Corporate and Other |
|
(25.7 |
) |
|
(26.4 |
) |
|
(113.9 |
) |
|
(102.5 |
) |
|||
|
$ |
439.3 |
|
|
$ |
393.5 |
|
|
$ |
1,637.1 |
|
|
$ |
1,603.8 |
|
(1) Segment operating income (loss) excluding special items and EBITDA excluding special items are non-GAAP financial measures. We provide information regarding our use of non-GAAP financial measures and reconciliations of historical non-GAAP financial measures presented in this press release to the most comparable measure reported in accordance with GAAP in the schedules to this press release |
In the Packaging segment, total corrugated product shipments and shipments per day were up
Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “As we have seen throughout the year, demand in our Packaging segment during the quarter remained very strong. Our corrugated products plants delivered record fourth quarter total shipments and an all-time record shipments per day. The plants also set new annual records for total shipments and shipments per day. Excellent operations throughout our mill containerboard system set new quarterly and annual production records as well. This allowed us to meet our customer’s demand needs in a timely manner as well as achieve year-end inventory targets ahead of the mill outages scheduled for the first half of 2025. Although seasonally slower, volume and price/mix in the Paper segment were above last year’s levels. Throughout the Company, our employees together with the benefits of our capital spending program continued to do a great job to lessen the inflationary impact across most of our cost structure.”
“Looking ahead as we move from the fourth and into the first quarter,” Mr. Kowlzan continued, “in our Packaging segment, although seasonally slower, we expect volume in our corrugated products plants to set new first quarter records for total shipments and shipments-per-day. Containerboard volume will be lower with two less operating days and scheduled maintenance outages at our
We present our earnings expectation for the upcoming quarter excluding special items as special items are difficult to predict and quantify and may reflect the effect of future events. We do not currently expect any significant special items during the first quarter; however, additional special items may arise due to first quarter events.
PCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in
Some of the statements in this press release are forward-looking statements. Forward-looking statements include statements about our future earnings and financial condition, expected benefits from acquisitions and restructuring activities, our industry and our business strategy. Statements that contain words such as “will”, “should”, “anticipate”, “believe”, “expect”, “intend”, “estimate”, “hope” or similar expressions, are forward-looking statements. These forward-looking statements are based on the current expectations of PCA. Because forward-looking statements involve inherent risks and uncertainties, the plans, actions and actual results of PCA could differ materially. Among the factors that could cause plans, actions and results to differ materially from PCA’s current expectations include the following: the impact of general economic conditions; conditions in the paper and packaging industries, including competition, product demand and product pricing; fluctuations in wood fiber and recycled fiber costs; fluctuations in purchased energy costs; the possibility of unplanned outages or interruptions at our principal facilities; and legislative or regulatory requirements, particularly concerning environmental matters, as well as those identified under Item 1A. Risk Factors in PCA’s Annual Report on Form 10-K for the year ended December 31, 2023, and in subsequent quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and available at the SEC’s website at “www.sec.gov”.
Conference Call Information: |
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WHAT: |
Packaging Corporation of America’s 4th Quarter 2024 Earnings Conference Call |
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Conference ID: Packaging Corporation of America |
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WHEN: |
Wednesday, January 29, 2025 at 9:00am Eastern Time |
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PRE-REGISTRATION: |
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CALL-IN NUMBER: |
(833) 816-1102 ( |
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Dial in by 8:45am Eastern Time |
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WEBCAST INFO: |
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REBROADCAST DATES: |
January 29, 2025 through February 12, 2025 |
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REBROADCAST NUMBERS: |
(877) 344-7529 ( |
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Passcode: 9444032 |
Packaging Corporation of America | ||||||||||||||||
Consolidated Earnings Results | ||||||||||||||||
Unaudited | ||||||||||||||||
(dollars in millions, except per-share data) | ||||||||||||||||
Three Months Ended |
|
Full Year Ended |
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December 31, |
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December 31, |
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2024 |
|
2023 |
|
2024 |
|
2023 |
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Net sales | $ |
2,146.1 |
|
$ |
1,937.9 |
|
$ |
8,383.3 |
|
$ |
7,802.4 |
|
||||
Cost of sales |
|
(1,676.4 |
) |
(1) |
|
(1,527.8 |
) |
(3) |
|
(6,600.2 |
) |
(1)(2) |
|
(6,103.5 |
) |
(3) |
Gross profit |
|
469.7 |
|
|
410.1 |
|
|
1,783.1 |
|
|
1,698.9 |
|
||||
Selling, general, and administrative expenses |
|
(147.0 |
) |
|
(142.8 |
) |
|
(610.3 |
) |
(1) |
|
(580.9 |
) |
(3) |
||
Other expense, net |
|
(20.5 |
) |
(1) |
|
(5.8 |
) |
(3) |
|
(71.5 |
) |
(1)(2) |
|
(42.9 |
) |
(3) |
Income from operations |
|
302.2 |
|
|
261.5 |
|
|
1,101.3 |
|
|
1,075.1 |
|
||||
Non-operating pension income (expense) |
|
1.1 |
|
|
(1.9 |
) |
|
4.5 |
|
|
(7.7 |
) |
||||
Interest expense, net |
|
(11.7 |
) |
|
(11.1 |
) |
|
(41.4 |
) |
|
(53.3 |
) |
||||
Income before taxes |
|
291.6 |
|
|
248.5 |
|
|
1,064.4 |
|
|
1,014.1 |
|
||||
Provision for income taxes |
|
(70.5 |
) |
|
(59.3 |
) |
|
(259.3 |
) |
|
(248.9 |
) |
||||
Net income | $ |
221.1 |
|
$ |
189.2 |
|
$ |
805.1 |
|
$ |
765.2 |
|
||||
Earnings per share: | ||||||||||||||||
Basic | $ |
2.46 |
|
$ |
2.11 |
|
$ |
8.97 |
|
$ |
8.52 |
|
||||
Diluted | $ |
2.45 |
|
$ |
2.10 |
|
$ |
8.93 |
|
$ |
8.48 |
|
||||
Computation of diluted earnings per share under the two class method: | ||||||||||||||||
Net income | $ |
221.1 |
|
$ |
189.2 |
|
$ |
805.1 |
|
$ |
765.2 |
|
||||
Less: Distributed and undistributed income available to participating securities |
|
(1.5 |
) |
|
(1.4 |
) |
|
(5.6 |
) |
|
(6.2 |
) |
||||
Net income attributable to PCA shareholders | $ |
219.6 |
|
$ |
187.8 |
|
$ |
799.5 |
|
$ |
759.0 |
|
||||
Diluted weighted average shares outstanding |
|
89.5 |
|
|
89.3 |
|
|
89.5 |
|
|
89.5 |
|
||||
Diluted earnings per share | $ |
2.45 |
|
$ |
2.10 |
|
$ |
8.93 |
|
$ |
8.48 |
|
||||
Supplemental financial information: | ||||||||||||||||
Capital spending | $ |
201.3 |
|
$ |
141.1 |
|
$ |
669.7 |
|
$ |
469.7 |
|
||||
Cash, cash equivalents, and marketable debt securities | $ |
852.2 |
|
$ |
1,205.6 |
|
$ |
852.2 |
|
$ |
1,205.6 |
|
(1) |
The three and twelve months ended December 31, 2024 include |
|
(2) |
The twelve months ended December 31, 2024 include |
|
(3) |
The three and twelve months ended December 31, 2023 include the following: | |
a. | ||
b. |
Packaging Corporation of America | |||||||||||||||
Segment Information | |||||||||||||||
Unaudited | |||||||||||||||
(dollars in millions) | |||||||||||||||
Three Months Ended |
|
Full Year Ended |
|||||||||||||
December 31, |
|
December 31, |
|||||||||||||
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Segment sales | |||||||||||||||
Packaging | $ |
1,975.6 |
|
$ |
1,776.9 |
|
$ |
7,690.9 |
|
$ |
7,135.6 |
|
|||
Paper |
|
151.5 |
|
|
143.8 |
|
|
624.7 |
|
|
595.4 |
|
|||
Corporate and Other |
|
19.0 |
|
|
17.2 |
|
|
67.7 |
|
|
71.4 |
|
|||
$ |
2,146.1 |
|
$ |
1,937.9 |
|
$ |
8,383.3 |
|
$ |
7,802.4 |
|
||||
Segment operating income (loss) | |||||||||||||||
Packaging | $ |
297.2 |
|
$ |
263.8 |
|
$ |
1,101.5 |
|
$ |
1,074.3 |
|
|||
Paper |
|
34.8 |
|
|
28.1 |
|
|
129.7 |
|
|
118.9 |
|
|||
Corporate and Other |
|
(29.8 |
) |
|
(30.4 |
) |
|
(129.9 |
) |
|
(118.1 |
) |
|||
Income from operations |
|
302.2 |
|
|
261.5 |
|
|
1,101.3 |
|
|
1,075.1 |
|
|||
Non-operating pension income (expense) |
|
1.1 |
|
|
(1.9 |
) |
|
4.5 |
|
|
(7.7 |
) |
|||
Interest expense, net |
|
(11.7 |
) |
|
(11.1 |
) |
|
(41.4 |
) |
|
(53.3 |
) |
|||
Income before taxes | $ |
291.6 |
|
$ |
248.5 |
|
$ |
1,064.4 |
|
$ |
1,014.1 |
|
|||
Segment operating income (loss) excluding special items (1) | |||||||||||||||
Packaging | $ |
298.9 |
|
$ |
265.0 |
|
$ |
1,108.1 |
|
$ |
1,088.7 |
|
|||
Paper |
|
34.8 |
|
|
30.7 |
|
|
135.5 |
|
|
130.0 |
|
|||
Corporate and Other |
|
(29.8 |
) |
|
(30.4 |
) |
|
(129.9 |
) |
|
(118.1 |
) |
|||
$ |
303.9 |
|
$ |
265.3 |
|
$ |
1,113.7 |
|
$ |
1,100.6 |
|
||||
EBITDA excluding special items (1) | |||||||||||||||
Packaging | $ |
425.7 |
|
$ |
384.7 |
|
$ |
1,597.5 |
|
$ |
1,555.7 |
|
|||
Paper |
|
39.3 |
|
|
35.2 |
|
|
153.5 |
|
|
150.6 |
|
|||
Corporate and Other |
|
(25.7 |
) |
|
(26.4 |
) |
|
(113.9 |
) |
|
(102.5 |
) |
|||
$ |
439.3 |
|
$ |
393.5 |
|
$ |
1,637.1 |
|
$ |
1,603.8 |
|
(1) |
Income (loss) from operations excluding special items, segment operating income (loss) excluding special items, earnings before non-operating pension income (expense), interest, income taxes, and depreciation, amortization, and depletion (EBITDA), segment EBITDA, EBITDA excluding special items, and segment EBITDA excluding special items are non-GAAP financial measures. Management excludes special items as it believes these items are not necessarily reflective of the ongoing results of operations of our business. We present these measures because they provide a means to evaluate the performance of our segments and our company on an ongoing basis using the same measures that are used by our management, because these measures assist in providing a meaningful comparison between periods presented and because these measures are frequently used by investors and other interested parties in the evaluation of companies and the performance of their segments. The tables included in "Reconciliation of Non-GAAP Financial Measures" on the following pages reconcile the non-GAAP measures with the most directly comparable GAAP measures. Any analysis of non-GAAP financial measures should be done only in conjunction with results presented in accordance with GAAP. The non-GAAP measures are not intended to be substitutes for GAAP financial measures and should not be used as such. |
Packaging Corporation of America | |||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||
Unaudited | |||||||||||||||
(dollars in millions) | |||||||||||||||
Three Months Ended |
|
Full Year Ended |
|||||||||||||
December 31, |
|
December 31, |
|||||||||||||
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Packaging | |||||||||||||||
Segment operating income | $ |
297.2 |
|
$ |
263.8 |
|
$ |
1,101.5 |
|
$ |
1,074.3 |
|
|||
Facilities closure and other costs |
|
1.7 |
|
|
0.9 |
|
|
2.7 |
|
|
14.4 |
|
|||
|
- |
|
|
0.3 |
|
|
3.9 |
|
|
- |
|
||||
Segment operating income excluding special items (1) | $ |
298.9 |
|
$ |
265.0 |
|
$ |
1,108.1 |
|
$ |
1,088.7 |
|
|||
Paper | |||||||||||||||
Segment operating income | $ |
34.8 |
|
$ |
28.1 |
|
$ |
129.7 |
|
$ |
118.9 |
|
|||
|
- |
|
|
2.6 |
|
|
5.8 |
|
|
11.1 |
|
||||
Segment operating income excluding special items (1) | $ |
34.8 |
|
$ |
30.7 |
|
$ |
135.5 |
|
$ |
130.0 |
|
|||
Corporate and Other | |||||||||||||||
Segment operating loss | $ |
(29.8 |
) |
$ |
(30.4 |
) |
$ |
(129.9 |
) |
$ |
(118.1 |
) |
|||
Segment operating loss excluding special items (1) | $ |
(29.8 |
) |
$ |
(30.4 |
) |
$ |
(129.9 |
) |
$ |
(118.1 |
) |
|||
Income from operations | $ |
302.2 |
|
$ |
261.5 |
|
$ |
1,101.3 |
|
$ |
1,075.1 |
|
|||
Income from operations, excluding special items (1) | $ |
303.9 |
|
$ |
265.3 |
|
$ |
1,113.7 |
|
$ |
1,100.6 |
|
|||
(1) See footnote (1) on page 2, for a discussion of non-GAAP financial measures. |
Packaging Corporation of America | ||||||||||||||||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | ||||||||||||||||||||||||||||||||
Unaudited | ||||||||||||||||||||||||||||||||
(dollars in millions) | ||||||||||||||||||||||||||||||||
Net Income Excluding Special Items and EPS Excluding Special Items (1) | ||||||||||||||||||||||||||||||||
Three Months Ended December 31, |
||||||||||||||||||||||||||||||||
2024 |
|
|
2023 |
|||||||||||||||||||||||||||||
Income
|
|
Income
|
|
Net
|
|
Diluted
|
|
Income
|
|
Income
|
|
Net
|
|
Diluted
|
||||||||||||||||||
As reported in accordance with GAAP | $ |
291.6 |
$ |
(70.5 |
) |
$ |
221.1 |
$ |
2.45 |
$ |
248.5 |
$ |
(59.3 |
) |
$ |
189.2 |
$ |
2.10 |
|
|
||||||||||||
Special items (2): | ||||||||||||||||||||||||||||||||
Facilities closure and other costs |
|
1.7 |
|
|
(0.4 |
) |
|
1.3 |
|
|
0.02 |
|
|
0.9 |
|
|
(0.2 |
) |
|
0.7 |
|
|
0.01 |
|
|
|||||||
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
2.9 |
|
|
(0.7 |
) |
|
2.2 |
|
|
0.02 |
|
|
||||||||
Total special items |
|
1.7 |
|
|
(0.4 |
) |
|
1.3 |
|
|
0.02 |
|
|
3.8 |
|
|
(0.9 |
) |
|
2.9 |
|
|
0.03 |
|
|
|||||||
Excluding special items | $ |
293.3 |
|
$ |
(70.9 |
) |
$ |
222.4 |
|
$ |
2.47 |
|
$ |
252.3 |
|
$ |
(60.2 |
) |
$ |
192.1 |
|
$ |
2.13 |
|
|
|||||||
Full Year Ended December 31, |
||||||||||||||||||||||||||||||||
2024 |
|
|
2023 |
|||||||||||||||||||||||||||||
Income
|
|
Income
|
|
Net
|
|
Diluted
|
|
Income
|
|
Income
|
|
Net
|
|
Diluted
|
||||||||||||||||||
As reported in accordance with GAAP | $ |
1,064.4 |
|
$ |
(259.3 |
) |
$ |
805.1 |
|
$ |
8.93 |
|
$ |
1,014.1 |
|
$ |
(248.9 |
) |
$ |
765.2 |
|
$ |
8.48 |
|
|
|||||||
Special items (2): | ||||||||||||||||||||||||||||||||
|
9.7 |
|
|
(2.4 |
) |
|
7.3 |
|
|
0.08 |
|
|
11.1 |
|
|
(2.7 |
) |
|
8.4 |
|
|
0.09 |
|
|
||||||||
Facilities closure and other costs |
|
2.7 |
|
|
(0.6 |
) |
|
2.1 |
|
|
0.03 |
|
|
14.4 |
|
|
(3.6 |
) |
|
10.8 |
|
|
0.12 |
|
|
|||||||
Total special items |
|
12.4 |
|
|
(3.0 |
) |
|
9.4 |
|
|
0.11 |
|
|
25.5 |
|
|
(6.3 |
) |
|
19.2 |
|
|
0.21 |
|
|
|||||||
Excluding special items | $ |
1,076.8 |
|
$ |
(262.3 |
) |
$ |
814.5 |
|
$ |
9.04 |
|
$ |
1,039.6 |
|
$ |
(255.2 |
) |
$ |
784.4 |
|
$ |
8.70 (3 |
) |
|
(1) | Net income excluding special items and earnings per share excluding special items are non-GAAP financial measures. Management excludes special items as it believes these items are not necessarily reflective of the ongoing results of operations of our business. We present these measures because they provide a means to evaluate the performance of our company on an ongoing basis using the same measures that are used by our management, because these measures assist in providing a meaningful comparison between periods presented and because these measures are frequently used by investors and other interested parties in the evaluation of companies and their performance. Any analysis of non-GAAP financial measures should be done only in conjunction with results presented in accordance with GAAP. The non-GAAP measures are not intended to be substitutes for GAAP financial measures and should not be used as such. |
(2) | Pre-tax special items are tax-effected at a combined federal and state income tax rate in effect for the period the special items were recorded and this rate is adjusted for each subsequent quarter to be consistent with the estimated annual effective tax rate, in accordance with ASC 270, Interim Reporting, and ASC 740-270, Income Taxes – Intra Period Tax Allocation. For all periods presented, income taxes on pre-tax special items represent the current amount of tax. For more information related to these items, see the footnotes to the Consolidated Earnings Results on page 1. |
(3) | Amount may not foot due to rounding. |
Packaging Corporation of America | |||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||
Unaudited | |||||||||||||||
(dollars in millions) | |||||||||||||||
EBITDA and EBITDA Excluding Special Items (1) | |||||||||||||||
EBITDA represents income before non-operating pension (income) expense, interest, income taxes, and depreciation, amortization, and depletion. The following table reconciles net income to EBITDA and EBITDA excluding special items: | |||||||||||||||
Three Months Ended |
|
Full Year Ended |
|||||||||||||
December 31, |
|
December 31, |
|||||||||||||
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Net income | $ |
221.1 |
|
$ |
189.2 |
$ |
805.1 |
|
$ |
765.2 |
|||||
Non-operating pension (income) expense |
|
(1.1 |
) |
|
1.9 |
|
|
(4.5 |
) |
|
7.7 |
|
|||
Interest expense, net |
|
11.7 |
|
|
11.1 |
|
|
41.4 |
|
|
53.3 |
|
|||
Provision for income taxes |
|
70.5 |
|
|
59.3 |
|
|
259.3 |
|
|
248.9 |
|
|||
Depreciation, amortization, and depletion |
|
136.0 |
|
|
130.8 |
|
|
525.6 |
|
|
517.7 |
|
|||
EBITDA (1) | $ |
438.2 |
|
$ |
392.3 |
|
$ |
1,626.9 |
|
$ |
1,592.8 |
|
|||
Special items: | |||||||||||||||
Facilities closure and other costs |
|
1.1 |
|
|
0.9 |
|
|
1.9 |
|
|
8.9 |
|
|||
|
- |
|
|
0.3 |
|
|
8.3 |
|
|
2.1 |
|
||||
EBITDA excluding special items (1) | $ |
439.3 |
|
$ |
393.5 |
|
$ |
1,637.1 |
|
$ |
1,603.8 |
|
|||
(1) See footnote (1) on page 2, for a discussion of non-GAAP financial measures. |
Packaging Corporation of America | |||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||
Unaudited | |||||||||||||||
(dollars in millions) | |||||||||||||||
The following table reconciles segment operating income (loss) to segment EBITDA and segment EBITDA excluding special items: | |||||||||||||||
Three Months Ended |
|
Full Year Ended |
|||||||||||||
December 31, |
|
December 31, |
|||||||||||||
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Packaging | |||||||||||||||
Segment operating income | $ |
297.2 |
|
$ |
263.8 |
|
$ |
1,101.5 |
|
$ |
1,074.3 |
|
|||
Depreciation, amortization, and depletion |
|
127.4 |
|
|
119.7 |
|
|
490.1 |
|
|
472.5 |
|
|||
EBITDA (1) |
|
424.6 |
|
|
383.5 |
|
|
1,591.6 |
|
|
1,546.8 |
|
|||
Facilities closure and other costs |
|
1.1 |
|
|
0.9 |
|
|
1.9 |
|
|
8.9 |
|
|||
|
- |
|
|
0.3 |
|
|
4.0 |
|
|
- |
|
||||
EBITDA excluding special items (1) | $ |
425.7 |
|
$ |
384.7 |
|
$ |
1,597.5 |
|
$ |
1,555.7 |
|
|||
Paper | |||||||||||||||
Segment operating income | $ |
34.8 |
|
$ |
28.1 |
|
$ |
129.7 |
|
$ |
118.9 |
|
|||
Depreciation, amortization, and depletion |
|
4.5 |
|
|
7.1 |
|
|
19.5 |
|
|
29.6 |
|
|||
EBITDA (1) |
|
39.3 |
|
|
35.2 |
|
|
149.2 |
|
|
148.5 |
|
|||
|
- |
|
|
- |
|
|
4.3 |
|
|
2.1 |
|
||||
EBITDA excluding special items (1) | $ |
39.3 |
|
$ |
35.2 |
|
$ |
153.5 |
|
$ |
150.6 |
|
|||
Corporate and Other | |||||||||||||||
Segment operating loss | $ |
(29.8 |
) |
$ |
(30.4 |
) |
$ |
(129.9 |
) |
$ |
(118.1 |
) |
|||
Depreciation, amortization, and depletion |
|
4.1 |
|
|
4.0 |
|
|
16.0 |
|
|
15.6 |
|
|||
EBITDA (1) |
|
(25.7 |
) |
|
(26.4 |
) |
|
(113.9 |
) |
|
(102.5 |
) |
|||
EBITDA excluding special items (1) | $ |
(25.7 |
) |
$ |
(26.4 |
) |
$ |
(113.9 |
) |
$ |
(102.5 |
) |
|||
EBITDA excluding special items (1) | $ |
439.3 |
|
$ |
393.5 |
|
$ |
1,637.1 |
|
$ |
1,603.8 |
|
|||
(1) See footnote (1) on page 2, for a discussion of non-GAAP financial measures. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250128391014/en/
Barbara Sessions
Packaging Corporation of America
INVESTOR RELATIONS: (877) 454-2509
PCA’s Website: www.packagingcorp.com
Source: Packaging Corporation of America