The earnings call reflected a generally positive outlook with significant improvements in net income, sales, and EBITDA, alongside successful price increases and strategic acquisitions. However, these were tempered by challenges such as increased operating and outage costs and a decline in export sales due to global trade tensions.

Company Guidance

During the Packaging Corporation of America's second-quarter 2025 earnings call, the company provided detailed guidance, highlighting a strong performance with a reported net income of $242 million or $2.67 per share, surpassing the second-quarter guidance by $0.07 per share. Excluding special items, net income was $224 million or $2.48 per share, marking an increase from the previous year's $199 million or $2.20 per share. The quarter's net sales reached $2.2 billion, with total company EBITDA, excluding special items, at $451 million. The company attributed the $0.28 per share increase compared to the prior year to higher prices and mix in both the Packaging and Paper segments, lower fiber costs, and a reduced tax rate, though these were partially offset by higher operating and outage expenses. For the third quarter, PCA anticipates earnings of $2.80 per share, excluding special items, with higher corrugated shipments and continued lower export sales due to global trade tensions. The company is also optimistic about the strategic acquisition of Greif's containerboard business, expected to complete by the end of the third quarter, which is anticipated to enhance growth and integration capabilities.

Increased Net Income and Sales

Second quarter net income was $242 million or $2.67 per share, up from $199 million or $2.20 per share in the second quarter of 2024. Second quarter net sales rose to $2.2 billion from $2.1 billion in 2024.

EBITDA Growth

Total company EBITDA, excluding special items, increased to $451 million in the second quarter of 2025 from $404 million in 2024.

Successful Price Increases

Domestic containerboard and corrugated products prices and mix increased, contributing $0.95 per share over the second quarter of 2024.

Strategic Acquisition

Agreement to acquire Greif containerboard business, expected to be completed by the end of the third quarter, offering a growth platform for both containerboard and corrugated products.

Strong Cash Flow

Cash provided by operations was $300 million with a free cash flow of $130 million.

Packaging (PKG) Earnings, Revenues Date & History

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PKG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 27, 2025	2025 (Q3)	2.84 / -	2.65	―	―	―
Jul 23, 2025	2025 (Q2)	2.44 / 2.48	2.2	12.73% (+0.28)	―
Apr 22, 2025	2025 (Q1)	2.21 / 2.31	1.72	34.30% (+0.59)	―
Jan 28, 2025	2024 (Q4)	2.53 / 2.47	2.13	15.96% (+0.34)	―
Oct 22, 2024	2024 (Q3)	2.50 / 2.65	2.05	29.27% (+0.60)	―
Jul 23, 2024	2024 (Q2)	2.13 / 2.20	2.31	-4.76% (-0.11)	―
Apr 22, 2024	2024 (Q1)	1.68 / 1.72	2.2	-21.82% (-0.48)	―
Jan 24, 2024	2023 (Q4)	1.83 / 2.13	2.35	-9.36% (-0.22)	―
Oct 23, 2023	2023 (Q3)	1.93 / 2.05	2.83	-27.56% (-0.78)	―
Jul 24, 2023	2023 (Q2)	1.93 / 2.31	3.23	-28.48% (-0.92)	―

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
Jul 23, 2025	$206.32	$205.93	-0.19%
Apr 22, 2025	$185.21	$183.50	-0.92%
Jan 28, 2025	$235.33	$212.34	-9.77%
Oct 22, 2024	$212.68	$224.45	+5.53%

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.