Packaging Corporation of America
Packaging Corp of America Reports Second Quarter 2024 Results
Summary
Packaging Corporation of America (NYSE: PKG) reported a net income of $199 million, or $2.21 per share, for the second quarter of 2024, a slight decrease from $202.7 million, or $2.24 per share, in the same period last year. Excluding special items, the company reported diluted EPS of $2.20 compared to $2.31 in the second quarter of 2023. The decrease was driven by lower prices and mix in the Packaging and Paper segments, higher operating costs, and higher depreciation expense. However, these factors were partially offset by higher volume and lower other converting costs. The company expects third-quarter earnings of $2.45 per share.
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About Packaging Corporation of America
Packaging Corporation of America is a premier manufacturer and provider of packaging solutions in the United States. The company specializes in producing high-quality containerboard and corrugated packaging products. Its primary function is to offer sturdy and reliable packaging solutions that support businesses across various industries, ensuring their products are safely packaged for transport and storage. Known for its efficient and sustainable manufacturing processes, Packaging Corporation of America plays a significant role in the supply chain, servicing sectors like food and beverage, automotive, and electronics. With its extensive network of plants and distribution centers, the company ensures timely delivery and responsiveness to market demands. Headquartered in Lake Forest, Illinois, Packaging Corporation of America emphasizes eco-friendly practices, contributing to the growing trend of sustainability in packaging. Its commitment to quality and environmental responsibility makes it a notable entity within the industrial and materials segment of the financial market, reflecting its position as a vital component of modern logistics and commerce.
Official SEC Documents
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