Business Wire·Apr 22, 2026, 4:52 PM ET

Packaging Corporation of America Reports First Quarter 2026 Results

PKG

Packaging Corporation of America reported first quarter 2026 net income of $171 million ($1.91 per share) & net income of $215 million ($2.40 per share) excluding special items.
First quarter 2026 net sales were $2.4 billion compared to $2.1 billion in the same period of 2025.
Reported diluted earnings per share for the quarter were $1.91, down $0.35 from $2.26 in the prior year, while earnings excluding special items rose $0.09 to $2.40.
Special items totaling $59.6 million included $53.3 million for the Wallula, WA containerboard mill restructuring, $3.4 million for acquisition costs, & $2.9 million for facility closures.
Excluding special items, the earnings increase was driven by favorable pricing, lower fiber costs, reduced maintenance outages, & lower labor expenses, partially offset by higher freight costs & lower legacy packaging volume.
The acquired Greif operations contributed a loss of $0.06 per share during the quarter.
Reported earnings exceeded the first quarter guidance of $2.20 per share by $0.20 due to favorable volume, mix, & a lower tax rate.
Legacy packaging shipments increased 1.2% while shipments per day rose 2.8% despite one fewer shipping day; total shipments including Greif rose 19.9%.
Containerboard production reached 1,398,000 tons & inventory increased 48,000 tons year-over-year, primarily due to the acquisition.
The Paper segment reported a 2.7% increase in sales volume compared to the first quarter of 2025.
Second quarter 2026 earnings excluding special items are projected at $2.33 per share.
Q2 expectations include higher mill maintenance outage expenses, increased freight & fiber costs, & a higher tax rate due to the vesting of stock compensation awards in Q1.
PCA operates ten mills & 91 corrugated products plants & related facilities across North America.
An earnings conference call is scheduled for Thursday, April 23, 2026, at 9:00 am Eastern Time.