Packaging Corp of America Q2 EPS $2.24, down 30% YoY; guides Q3 $1.88

PACKAGING CORP OF AMERICA

2023-Q2 EPS reported $4.35 revenue$3,928,400,000

Reported EPS $2.24 vs $3.20 Q2 2022; adjusted EPS $2.31 vs $3.23, a $0.92 decline.
Net sales $2.0B, down 9% from $2.2B prior year; Packaging segment income fell 32% to $285.8M.
Corrugated shipments per day down 9.8% YoY; temporarily idled Wallula, WA mill.
Q3 2023 guidance of $1.88 EPS, citing lower containerboard prices and higher scheduled outage costs.
Share repurchases in H2 2022 reduced share count, providing $0.13 EPS benefit.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PACKAGING CORP OF AMERICA reported second quarter 2023 results: revenue $2.0 billion, net income $203 million, EPS $2.24 per share. Guidance initiated.

Period: second quarter 2023
Revenue: $2.0 billion
Net income: $203 million
EPS: $2.24 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Packaging Corporation of America (NYSE: PKG) today reported second quarter 2023 net income of $203 million, or $2.24 per share, and net income of $209 million, or $2.31 per share, excluding special items. Second quarter net sales were $2.0 billion in 2023 and $2.2 billion in 2022.

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Source: SEC EDGAR

accession 0000950170-23-034128

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