Packaging Corporation of America (PKG) Earnings Call Transcripts

Packaging Corporation of America's Latest Earnings Call - Q2 FY2026

In the second quarter of fiscal year 2026, Packaging Corporation of America (PKG:US) reported net income of $192 million, or $2.15 per share, which was below the prior year's $224 million, or $2.48 per share. Revenue increased to $2.5 billion from $2.2 billion year-over-year, driven by strong corrugated product demand. Management raised guidance for the third quarter, expecting earnings of $2.91 per share, reflecting improved operational performance and higher prices for containerboard and corrugated products.

Reported metrics

Guidance from management

Management expects third quarter earnings of $2.91 per share, excluding special items, reflecting strong demand and price increases in the Packaging segment. They noted that operational performance is expected to improve with fewer maintenance outages.

What management said

George, this is Tom. Yes, billings are up 1.5% so far, and we're expecting for the quarter, this is in the legacy business and up about 2%. So that's pretty much in track with what we thought. And of course, it's against a pretty tough comp. And as you may know, Prime days were moved up a quarter. So it's going to change change the numbers a little bit in the third quarter. But all in all, we're happy with that growt...

Let me start that question first, George. We're probably currently around 30% recycled to 70% on any given day, it flexes up and down to 35% at times. As we're pushing the system now, we're probably up closer to the 35% level. But nevertheless, it's we've gone through an unusual time since the beginning of the year. If you think about it, OCC, DLK recycled fiber is up about 70%. And so that impact is felt directly. S...

What analysts pressed on

Analysts expressed concerns regarding the impact of utility outages on production and the overall cost structure, particularly in relation to freight and recycled fiber prices. There were also questions about the integration of Greif and its future contributions to earnings.

Main topics on the call

• Revenue Growth — PKG reported second quarter net sales of $2.5 billion, up from $2.2 billion in the same quarter last year, indicating strong demand in the corrugated segment. Management noted, "Shipments were up over 24% in total and pe...
• Earnings Decline — Net income decreased to $192 million, or $2.15 per share, from $224 million, or $2.48 per share in the prior year. Excluding special items, earnings were $2.35 per share, down $0.13 year-over-year due to increased costs ...
• Operational Challenges — The company faced production interruptions due to utility power outages, impacting operational performance. CEO Mark Kowlzan emphasized the need for gas turbine projects to reduce reliance on the grid, stating, "It just....
• Greif Acquisition Performance — The Greif acquisition contributed positively, exceeding expectations with a $0.14 earnings contribution. Management noted, "Greif was a $0.14 earnings contribution, that exceeded expectations... driven by largely higher ...

Read the full Packaging Corporation of America transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Packaging Corporation of America earnings call transcripts on record, spanning January 30, 2020 to July 23, 2026. Based on this history, Packaging Corporation of America reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PKG

Exchange

NYSE

Country

US

Sector

Materials

Industry

Containers and Packaging

Calls on record

30

First call

January 30, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly