secwatch.observer — SEC 8-K summary
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Issuer:     PACKAGING CORP OF AMERICA (PKG)
CIK:        0000075677
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000950170-23-014152
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/75677/000095017023014152/0000950170-23-014152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/75677/000095017023014152/pkg-20230424.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-014152

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