Packaging Corporation Of America (PKG)
NYSE:PKG
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Earnings Data
Report Date
Jul 27, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.35Last Year’s EPS
2.48Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented clear operational momentum: higher sales, EBITDA growth, full-capacity runs, production records, inventory reductions and tangible early synergy/productivity gains from the Greif acquisition. Those positives are partially offset by meaningful near-term headwinds — special items and restructuring charges, a Q1 loss from Greif tied to weather and seasonality, materially higher freight/recycled fiber/chemical costs, elevated outage expense timing in Q2, and higher share-based compensation trimming seasonality. Management expects price realization to accelerate later in the year (with the largest benefit in Q3) and reiterated guidance for continued integration and capital projects that should drive longer-term benefits. Overall, the positives around revenue, margins, cash generation, integration progress and operational execution outweigh the near-term cost and timing challenges.Company Guidance
Revenue and Adjusted Earnings Growth
First quarter 2026 net sales were $2.4 billion (vs. $2.1 billion in Q1 2025). Excluding special items, Q1 2026 net income was $215 million ($2.40 per share) versus $208 million ($2.31) in Q1 2025; company EBITDA excluding special items was $486 million vs. $421 million a year ago.
Packaging Segment Strong Margin Expansion
Packaging EBITDA excluding special items was $482 million on sales of $2.2 billion, a 22.0% margin vs. $409 million on $2.0 billion last year (20.8% margin) — demonstrating margin expansion and strong operational leverage in legacy packaging.
Operational Performance and Production Records
System ran at full capacity; produced 1,398,000 tons of containerboard in Q1. Jackson mill set new production and speed records; Counce outages completed ahead of schedule and both machines returned early, supporting tight corrugated demand.
Improving Corrugated Shipments and Demand
Legacy corrugated shipments per day were up 2.8% versus Q1 2025 (total shipments up 1.2% despite one fewer day). Including Greif, shipments were up ~22% per day and ~20% in total vs. Q1 2025; bookings/billings in legacy business up ~4.5% into April.
Progress on Greif Integration and Productivity Upside
Riverville produced ~10% higher in February vs pre-acquisition capability. Management cites $15–$20 million of run-rate productivity improvement from those mills now and expects to reach the previously stated synergy run-rate (~$30 million) by year-end with further freight and integration gains.
Inventory Reduction and Integration Milestones
System-wide inventories down ~39,000 tons QoQ; Greif plants reduced carried inventory by ~10,000 tons during the quarter. Company expects systems integration to be complete by end of Q3, enabling further optimization.
Strong Cash Generation and Capital Allocation
Cash provided by operations was $329 million; after $165 million CapEx, free cash flow was $164 million. Returned capital via $112 million dividends and $59 million share repurchases (266,000 shares at $228.78 average); ~$224 million remaining repurchase authorization.
Board Approvals and Strategic Capital Projects
Board approved gas turbine projects for Jackson and Riverville mills and is scoping a third for DeRidder; these projects aim to make mills electricity independent, with attractive return metrics per management.
PKG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PKG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $205.24 | $215.02 | +4.77% |
Jan 27, 2026 | $222.31 | $216.34 | -2.69% |
Oct 22, 2025 | $206.26 | $210.72 | +2.17% |
Jul 23, 2025 | $202.68 | $202.30 | -0.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Packaging Corporation Of America (PKG) report earnings?
Packaging Corporation Of America (PKG) is schdueled to report earning on Jul 27, 2026, After Close (Confirmed).
What is Packaging Corporation Of America (PKG) earnings time?
Packaging Corporation Of America (PKG) earnings time is at Jul 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PKG EPS forecast?
PKG EPS forecast for the fiscal quarter 2026 (Q2) is 2.35.
