Packaging Corp Amer Stock Price, News & Analysis

Packaging of America (NYSE: PKG) reported third quarter 2024 net income of $238 million, or $2.64 per share. Excluding special items, net income was $239 million, or $2.65 per share. Third quarter net sales were $2.2 billion in 2024, up from $1.9 billion in 2023.

Key highlights:

• Earnings increased $0.60 per share compared to Q3 2023, driven by higher volume and prices in the Packaging segment
• Corrugated products shipments per day were up 11.1% over Q3 2023
• Containerboard production reached 1,293,000 tons
• Paper segment sales volume increased 4% versus Q3 2023

The company expects Q4 earnings of $2.47 per share, with continued strong demand in the Packaging segment but lower shipments in the Paper segment.

Packaging of America (NYSE: PKG) has scheduled a conference call for October 23, 2024, at 9:00 a.m. Eastern Time to discuss its third quarter 2024 results. The call will be led by Mark Kowlzan, with earnings results released after market close on October 22, 2024. Investors can pre-register for the call or dial in using provided toll-free numbers. A replay will be available until November 6, 2024. The call will also be webcast on PCA's website.

PCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America, operating eight paper mills and 86 corrugated products plants.

Packaging of America (NYSE: PKG), the third largest containerboard producer in North America, has declared a quarterly dividend of $1.25 per share on its common stock. The dividend will be paid to shareholders of record as of September 16, 2024, with a payment date of October 15, 2024. This decision was approved by PCA's Board of Directors, who retain the authority for future declarations of quarterly dividends and establishment of record and payment dates.

PCA operates eight paper mills and 86 corrugated products plants, positioning itself as a leading producer of uncoated freesheet paper in North America. The company's commitment to regular dividend payments demonstrates its financial stability and shareholder value focus.

Packaging of America (NYSE: PKG) reported Q2 2024 net income of $199 million, or $2.21 per share. Excluding special items, earnings were $2.20 per share, down $0.11 from Q2 2023. Net sales increased to $2.1 billion from $2.0 billion in Q2 2023. The Packaging segment saw corrugated products shipments up 9.2% per day, with containerboard production at 1,281,000 tons. The Paper segment's sales volume increased by 12% year-over-year. Despite lower prices and higher costs, strong market conditions in Packaging drove results, including a new containerboard production record. Management expects Q3 earnings of $2.45 per share, with continued price increases and strong shipments in both segments.

The Packaging of America (PKG) will hold a conference call on July 24, 2024, at 9:00 a.m. Eastern Time to discuss its Q2 2024 results. The earnings report will be released on July 23, 2024, after the market closes. The call can be accessed by pre-registering online or dialing in directly. Replay options will be available until August 7, 2024. PCA is a significant player in containerboard products and uncoated freesheet paper in North America, operating eight paper mills and 86 corrugated products plants. The webcast will be accessible on PCA's official website under the Investor Relations tab.

Packaging of America (NYSE: PKG) has declared a regular quarterly dividend of $1.25 per share on its common stock. The dividend will be paid to shareholders of record as of June 14, 2024, with a payment date of July 15, 2024. PCA is a major producer of containerboard products and uncoated freesheet paper in North America.