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Packaging (PKG)
NYSE:PKG
Earnings Data
Report Date
Apr 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.17Last Year’s EPS
2.31Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial trajectory: revenue, EBITDA and full-year earnings excluding special items improved, margins (particularly in Packaging) expanded, cash generation and liquidity remain strong, and the company has made tangible integration and reliability gains at the acquired Greif mills. Management outlined constructive demand signals into 2026 (strong bookings and billings in January) and commercial actions (March price increase). Key negatives included one-time special charges ($1.19/sh), a slight decline in Q4 EPS excluding special items, elevated costs and planned outage costs for 2026, an inventory mismatch at acquired operations, weather-related disruptions, and continued high capital intensity. On balance the highlights outweigh the lowlights given strong cash flow, margin expansion, successful acquisition integration and improving demand trends.Company Guidance
Top-Line Growth (Quarter & Full Year)
Q4 net sales increased to $2.4 billion from $2.1 billion a year ago (≈+14%). Full year 2025 net sales were $9.0 billion versus $8.4 billion in 2024 (≈+7%).
EBITDA and Earnings Improvement
Total company EBITDA excluding special items was $486 million in Q4 2025 vs. $439 million in Q4 2024 (≈+10.7%). Full year EBITDA excluding special items rose to $1.86 billion from $1.64 billion in 2024 (≈+13.4%). Full-year earnings per share excluding special items increased to $9.84 from $9.04 (≈+8.8%).
Packaging Segment Margin Expansion
Packaging full-year EBITDA excluding special items was $1.83 billion on $8.3 billion sales for a 22.1% margin vs. 20.8% in 2024 (≈+1.3 percentage points). Q4 Packaging margin improved slightly to 21.7% from 21.5% year-over-year.
Strong Cash Generation and Capital Allocation
Q4 cash provided by operations was a record $443 million; Q4 free cash flow was $124 million after $319 million of CapEx. Full-year cash from operations was $1.55 billion with free cash flow of $725 million. The company repurchased $153 million of shares in Q4 and retains ≈$283 million repurchase authority; year-end liquidity ≈$1.25 billion.
Successful Greif Acquisition Integration Progress
Acquired operations outperformed expectations in the quarter; integration and reliability improvements completed at Massillon and Riverville mills with operational efficiency gains (management cited ~15% improvement in measured efficiency at the acquired mills). Company expects the acquisition to be modestly accretive in Q1 and to realize run-rate synergies going forward.
Operational Performance and Production
System produced 1,407,000 tons of containerboard (including Greif). Including the acquisition, shipments were up 17% year-over-year in Q4 and up 6% for the full year. Management reported 'strong' operational performance across mills and corrugated system.
Proactive Energy Investment Plan
Announced engineering-phase gas turbine projects at Jackson, AL and Riverville, VA estimated at ~$250 million (mostly in 2027-28) with expected returns in the mid- to high-teens and the potential for electricity independence at those sites.
Commercial Actions and Early 2026 Demand Signals
Announced a $70/ton price increase on linerboard and corrugated medium effective March 1. Bookings and billings in January showed strong improvement: legacy corrugated bookings up >11% and billings up 8% on a per-day basis, and management is forecasting year-over-year growth for Q1.
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 |
|---|---|---|---|
Jan 27, 2026 | $223.62 | $217.61 | -2.69% |
Oct 22, 2025 | $207.47 | $211.96 | +2.17% |
Jul 23, 2025 | $203.87 | $203.49 | -0.19% |
Apr 22, 2025 | $183.02 | $181.32 | -0.93% |
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 (PKG) report earnings?
Packaging (PKG) is schdueled to report earning on Apr 27, 2026, After Close (Confirmed).
What is Packaging (PKG) earnings time?
Packaging (PKG) earnings time is at Apr 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 (Q1) is 2.17.
