PKG · 10-Q · 2026Q2
PACKAGING CORP OF AMERICA
Filed 2026-08-07 · Other · View original filing on EDGAR
USD 2,489.9MTotal Revenue
USD 11,015.5MTotal Assets
15Topics
72Top Importance
Ranked Events
- Capital Expenditure OutlookImportance 72 · Surprise 58PCA spent $371 million on internal capital investments during the first six months of 2026, compared with $318 million in the same period of 2025. Management expects total 2026 capital investments to range from $840…
- Acquisition / Partnership / DivestitureImportance 71 · Surprise 60PCA completed the acquisition of Greif, Inc.’s containerboard business on September 2, 2025, for $1.8 billion in cash. The acquired business added two containerboard mills with approximately 800,000 tons of annual…
- Capital ExpendituresImportance 64 · Surprise 40PCA spent $371 million on internal capital investments during the first six months of 2026, compared with $318 million in the prior-year period, an increase of $53 million. The company expects total 2026 capital…
- Liquidity and Cash PositionImportance 54 · Surprise 40At June 30, 2026, PCA held $443 million of cash and cash equivalents and $224 million of marketable debt securities and other investments. The company had $573 million of unused borrowing capacity under its revolving…
- Operating Margin DriversImportance 54 · Surprise 40Second-quarter income from operations decreased 12.7% to $291 million from $334 million, while six-month operating income declined 11.6% to $543 million from $614 million. Packaging second-quarter operating income fell…
- Revenue Performance and MixImportance 54 · Surprise 40Second-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…
- Capital Return ProgramImportance 52 · Surprise 42PCA paid $223 million of common-stock dividends during the first six months of 2026, compared with $225 million in the prior-year period. The company repurchased and retired 0.3 million common shares for $59 million…
- Guidance / OutlookImportance 40 · Surprise 42Management expects continued strong demand in the Packaging segment and corrugated products volume to increase in the third quarter of 2026 because of one additional shipping day versus the second quarter. PCA expects…
- Product Pricing and MixImportance 40 · Surprise 42Reported containerboard prices increased by a net $20 per ton in the first quarter, $30 per ton in April, and $50 per ton in June 2026 for both linerboard and corrugating medium. PCA notified corrugated-products…
- Interest Rate EnvironmentImportance 38 · Surprise 24Net interest expense increased by $40 million in the first six months of 2026, primarily because PCA incurred higher financing costs for the Greif Acquisition and earned less interest income on lower cash balances.…
- Supply Chain ConstraintsImportance 37 · Surprise 32Freight rates increased significantly in the second quarter, primarily because of higher diesel fuel prices, and PCA expects freight costs to remain elevated in the third quarter. Recycled fiber prices increased…
- Market Demand TrendsImportance 35 · Surprise 48North American corrugated products shipments increased 0.9% year over year in the second quarter of 2026, while PCA’s total corrugated shipments rose 24.3% per day, including 4.1% growth from the legacy PCA business.…
- ESG and sustainabilityImportance 34 · Surprise 42PCA deferred a specific carbon capture initiative during the first six months of 2026. The decision resulted in a write-off of expenditures related to sustainability and renewable energy projects, included in…
- Headcount / RestructuringImportance 34 · Surprise 42PCA recorded $59.7 million of Wallula mill restructuring charges during the first six months of 2026, including the announced discontinuation of the No. 2 machine and kraft pulping facilities at the Wallula, Washington…
- Manufacturing and CapacityImportance 25 · Surprise 32PCA operates ten mills and 90 corrugated-products manufacturing plants, while its containerboard system produced approximately 1.415 million tons in the second quarter of 2026. Containerboard inventory increased 9.9%…
Revenue by Product (in millions)
| segment | SixMonths2025 | Q2 2026 | SixMonths2026 | Q2 2025 |
|---|---|---|---|---|
| Packaging | 3,976.3 | 2,311.3 | 4,499.8 | 2,005.9 |
| Paper | 300 | 157.3 | 317.2 | 145.8 |
| Corporate and Other | 36 | 21.3 | 40.6 | 19.6 |
| Total revenue | 4,312.3 | 2,489.9 | 4,857.6 | 2,171.3 |