PKG · 10-Q · 2026Q2 · Full report
Revenue Performance and Mix
PACKAGING CORP OF AMERICA · 2026-08-07 · Importance 54 · Surprise 40 · In source text
Second-quarter net sales increased 14.7% year over year to $2.490 billion from $2.171 billion, including Packaging revenue of $2.311 billion and Paper revenue of $157 million. Packaging revenue rose 15.2%, or $305 million, primarily from $258 million of Greif-acquired volume and $58 million of higher legacy volume, partly offset by $11 million of lower containerboard and corrugated-products prices and mix. Six-month net sales increased 12.7% to $4.858 billion, with Packaging up 13.2% to $4.500 billion and Paper up 5.7% to $317 million. Corrugated-products shipments increased 24.3% per day in the second quarter and 23.1% per day in the first six months, while outside containerboard shipments declined 19.0% and 17.3%, respectively, as more production was integrated into PCA’s corrugated system.
Key facts
- Packaging net sales increased $305 million, or 15.2%, to $2,311 million in Q2 2026, due to higher volume related to the acquired business ($258 million) and higher legacy volume ($58 million), partially offset by lower prices and mix ($11 million). source
- Second quarter net sales were $2.49 billion in 2026 and $2.17 billion in 2025. source
- Net sales increased $319 million, or 14.7%, to $2,490 million during the three months ended June 30, 2026, compared to $2,171 million during the same period in 2025. source
- Net income was $192 million, or $2.15 per diluted share, during the second quarter of 2026, compared to $242 million, or $2.67 per diluted share, during the same period in 2025. source
- Excluding special items, net income was $210 million, or $2.35 per diluted share, during the second quarter of 2026, compared to $224 million, or $2.48 per diluted share, in the second quarter of 2025. source
- Net income for the six months ended June 30, 2026 was $363.0 million, compared to $445.3 million for the six months ended June 30, 2025. source
- Packaging segment operating income was $313 million in the second quarter of 2026, compared to $346 million in the second quarter of 2025. source
- Paper net sales increased $11 million, or 7.9%, to $157 million in Q2 2026 due to higher volumes ($9 million) and higher prices and mix ($2 million). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +12.8% | Net sales increased $319 million, or 14.7%, to $2,490 million during the three months ended June 30, 2026, compared to $2,171 million… |
| revenue | positive | realized | +10.4% | Packaging net sales increased $305 million, or 15.2%, to $2,311 million in Q2 2026, due to higher volume related to the acquired business… |
| net_income | negative | realized | -3.3% | Net income for the six months ended June 30, 2026 was $363.0 million, compared to $445.3 million for the six months ended June 30, 2025. |
| revenue | positive | realized | +2.3% | Packaging net sales increased $305 million, or 15.2%, to $2,311 million in Q2 2026, due to higher volume related to the acquired business… |
| net_income | negative | realized | -2.0% | Net income was $192 million, or $2.15 per diluted share, during the second quarter of 2026, compared to $242 million, or $2.67 per diluted… |
| operating_income | negative | realized | -1.3% | Packaging segment operating income was $313 million in the second quarter of 2026, compared to $346 million in the second quarter of 2025. |
| net_income | negative | realized | -0.6% | Excluding special items, net income was $210 million, or $2.35 per diluted share, during the second quarter of 2026, compared to $224… |
| revenue | negative | realized | -0.4% | Packaging net sales increased $305 million, or 15.2%, to $2,311 million in Q2 2026, due to higher volume related to the acquired business… |