The earnings call highlighted strong financial performance with increased net income and successful price increases. The strategic acquisition of Greif containerboard business is expected to provide growth opportunities. However, challenges such as higher operating costs, lower production volumes, and global trade tensions were noted. Despite these issues, the company maintains a positive outlook, driven by operational efficiency and strategic initiatives.

Company Guidance -

Q3 2025

In the Packaging Corporation of America's second quarter 2025 earnings call, the company reported a net income of $242 million, or $2.67 per share, with net sales of $2.2 billion. Excluding special items, net income was $224 million, or $2.48 per share, compared to $199 million, or $2.20 per share, in the same period in 2024. The company's EBITDA for the quarter, excluding special items, was $451 million, reflecting an increase from $404 million in the previous year. Key factors contributing to the earnings increase included higher prices and mix in the Packaging segment, lower fiber costs, and a lower tax rate. These gains were partially offset by higher operating costs and annual outage expenses. The Packaging segment achieved an EBITDA margin of 22.6% on sales of $2 billion, and the Paper segment recorded an EBITDA margin of 20.8% on sales of $146 million. The firm's guidance for the third quarter anticipates earnings of $2.80 per share, with expectations for higher corrugated shipments and flat pricing in the Packaging segment. The company is also in the process of acquiring Greif's containerboard business, which is expected to enhance growth opportunities.

Increased Net Income and Earnings Per Share

Second quarter 2025 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.

Growth in Packaging Segment

Packaging segment saw higher prices and mix, contributing $0.98 per share to earnings compared to the second quarter of 2024.

Successful Price Increases

Full realization of earlier announced price increases contributed to improved margins and higher EBITDA per ton.

Strategic Acquisition of Greif Containerboard Business

Announced an agreement to acquire Greif containerboard business, expected to provide a good growth platform and capital avoidance opportunities.

Strong Cash Flow

Cash provided by operations was $300 million, with free cash flow at $130 million.

Improved Operational Efficiency

Achieved high efficiency with approximately 99% uptime performance across the system.

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.