---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-014152"
form_type: "8-K"
ticker: "PKG"
cik: "0000075677"
company_name: "PACKAGING CORP OF AMERICA"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:36:45.711056+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Packaging Corp Q1 EPS $2.20 ex-items misses $2.23 guide; Q2 outlook $1.96

## Summary
- Q1 GAAP EPS $2.11 ($2.20 ex-items), down from $2.72 YoY; net sales $2.0B vs $2.1B.
- Packaging segment income $268M, down 26% from $362M; corrugated shipments fell 12.7%.
- Q2 2023 EPS guidance $1.96, below Q1's $2.20 ex-items and prior-year quarter.
- CEO cited higher rates, inflation shifting spending to services, and manufacturing contraction.
- Share repurchases in H2 2022 added $0.11 to EPS; lower share count partially offset weakness.

## SEC filing metadata
- accession: 0000950170-23-014152
- form_type: 8-K
- ticker: PKG
- cik: 0000075677
- company_name: PACKAGING CORP OF AMERICA
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/75677/000095017023014152/0000950170-23-014152-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/75677/000095017023014152/pkg-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-014152
- JSON: https://secwatch.observer/filing/0000950170-23-014152.json
- Plain text: https://secwatch.observer/filing/0000950170-23-014152.txt

## Key facts
- Earnings Releases
  PACKAGING CORP OF AMERICA reported Three Months Ended March 31, 2023 results: revenue $2.0 billion, net income $190 million, EPS $2.11 per share. Guidance initiated.
  - Period: Three Months Ended March 31, 2023
  - Revenue: $2.0 billion
  - Net income: $190 million
  - EPS: $2.11 per share
  - Guidance: initiated
  - Result: reported results
  source text: PACKAGING CORPORATION OF AMERICA REPORTS FIRST QUARTER 2023 RESULTS Lake Forest, IL, April 24, 2023 – Packaging Corporation of America (NYSE: PKG) today reported first quarter 2023 net income of $190 million, or $2.11 per share, and net income of $198 million, or $2.20 per share, excluding special items. First quarter net sales were $2.0 billion in 2023 and $2.1 billion in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/75677/000095017023014152/0000950170-23-014152-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.