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Packaging Corp of America - PKG STOCK NEWS

Welcome to our dedicated page for Packaging of America news (Ticker: PKG), a resource for investors and traders seeking the latest updates and insights on Packaging of America stock.

Packaging Corporation of America (PCA) is a premier player in the US packaging industry, standing as the fourth largest producer of containerboard and corrugated packaging products in the nation. With roots tracing back to 1959, PCA has grown significantly over the decades, particularly with its notable acquisition of Boise, Inc. in 2013, which bolstered its annual sales to $5.5 billion and expanded its workforce to 13,600 employees.

Today, PCA operates eight mills and 94 converting locations, producing over 4.5 million tons of containerboard annually. The company's extensive portfolio includes containerboard, uncoated freesheet paper, and corrugated products that cater to a wide range of industries. PCA's unique market approach includes a strong focus on smaller customers, enabling a high degree of operational flexibility and personalized service.

The company's mission is encapsulated in its commitment to quality and innovation. PCA prides itself on combining superior products with a creative and knowledgeable total-service team. This team is dedicated to understanding customer needs and delivering packaging solutions that not only meet but exceed expectations. PCA's collaborative culture emphasizes trust and strong relationships, resulting in innovative packaging solutions and an outstanding service experience for its clients.

Financially, PCA is robust, with consistent performance and a proactive approach to market dynamics. The company’s well-established infrastructure and strategic partnerships enable it to adapt swiftly to changing market demands while maintaining high standards of sustainability and environmental responsibility.

Among PCA's recent achievements are advancements in sustainable packaging solutions, investments in state-of-the-art machinery, and a continuous push towards operational excellence. The company's ongoing projects focus on expanding its product offerings, enhancing production efficiency, and reducing its environmental footprint, aligning with global sustainability trends.

For investors and stakeholders, PCA represents a stable and innovative entity in the packaging sector, with a proven track record of growth, strong market presence, and a forward-looking strategy that ensures long-term value creation.

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Packaging of America (NYSE: PKG), the third largest containerboard producer in North America, has declared a quarterly dividend of $1.25 per share on its common stock. The dividend will be paid to shareholders of record as of September 16, 2024, with a payment date of October 15, 2024. This decision was approved by PCA's Board of Directors, who retain the authority for future declarations of quarterly dividends and establishment of record and payment dates.

PCA operates eight paper mills and 86 corrugated products plants, positioning itself as a leading producer of uncoated freesheet paper in North America. The company's commitment to regular dividend payments demonstrates its financial stability and shareholder value focus.

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Packaging of America (NYSE: PKG) reported Q2 2024 net income of $199 million, or $2.21 per share. Excluding special items, earnings were $2.20 per share, down $0.11 from Q2 2023. Net sales increased to $2.1 billion from $2.0 billion in Q2 2023. The Packaging segment saw corrugated products shipments up 9.2% per day, with containerboard production at 1,281,000 tons. The Paper segment's sales volume increased by 12% year-over-year. Despite lower prices and higher costs, strong market conditions in Packaging drove results, including a new containerboard production record. Management expects Q3 earnings of $2.45 per share, with continued price increases and strong shipments in both segments.

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The Packaging of America (PKG) will hold a conference call on July 24, 2024, at 9:00 a.m. Eastern Time to discuss its Q2 2024 results. The earnings report will be released on July 23, 2024, after the market closes. The call can be accessed by pre-registering online or dialing in directly. Replay options will be available until August 7, 2024. PCA is a significant player in containerboard products and uncoated freesheet paper in North America, operating eight paper mills and 86 corrugated products plants. The webcast will be accessible on PCA's official website under the Investor Relations tab.

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Packaging of America (NYSE: PKG) has declared a regular quarterly dividend of $1.25 per share on its common stock. The dividend will be paid to shareholders of record as of June 14, 2024, with a payment date of July 15, 2024. PCA is a major producer of containerboard products and uncoated freesheet paper in North America.

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Packaging of America (NYSE: PKG) reported first quarter 2024 net income of $147 million, or $1.63 per share. Excluding special items, net income was $155 million, or $1.72 per share. Net sales were $2.0 billion in both 2024 and 2023. The reported earnings in the first quarter of 2024 included special items primarily related to costs at the Jackson, AL mill. Despite a decrease in earnings compared to the first quarter of 2023, results were above guidance due to higher volume in the Packaging and Paper segments, lower costs, and expenses.
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Packaging of America (NYSE: PKG) will discuss its first quarter 2024 results in a conference call led by Mark Kowlzan. The earnings results will be released on April 22, 2024, with the call scheduled for April 23, 2024. PCA is a major producer of containerboard products and uncoated freesheet paper in North America.
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Packaging Corporation of America (NYSE: PKG) declares a regular quarterly dividend of $1.25 per share on its common stock, showcasing stability and investor-friendly policies. The company, known for its containerboard and paper products, operates multiple facilities across North America.
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Packaging Corporation of America's CEO, Mark Kowlzan, to speak at Bank of America Securities' Global Agriculture and Materials Conference. PCA is a major producer of containerboard products and uncoated freesheet paper in North America.
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Packaging Corporation of America's CEO, Mark Kowlzan, will speak at Bank of America Securities' Global Agriculture and Materials Conference. PCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America. They operate eight mills and 86 corrugated products plants and related facilities.
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Packaging Corporation of America (NYSE: PKG) reported fourth quarter 2023 net income of $189 million, or $2.10 per share, and full year 2023 net income of $765 million, or $8.48 per share. The company's fourth quarter net sales were $1.94 billion in 2023, and full year net sales were $7.8 billion in 2023, showing a decrease from the previous year. The Packaging segment experienced a decrease in earnings driven primarily by lower prices and mix, while the Paper segment saw lower sales volume. However, the company's CEO, Mark W. Kowlzan, expressed optimism for the future, expecting higher total corrugated products shipments and improved mix for the first quarter of 2024.
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FAQ

What is the current stock price of Packaging of America (PKG)?

The current stock price of Packaging of America (PKG) is $214.59 as of September 16, 2024.

What is the market cap of Packaging of America (PKG)?

The market cap of Packaging of America (PKG) is approximately 19.0B.

What does Packaging Corporation of America (PCA) specialize in?

PCA specializes in producing containerboard, corrugated packaging, and uncoated freesheet paper.

How large is PCA in the US market?

PCA is the fourth largest producer of containerboard and corrugated packaging products in the United States.

When did PCA acquire Boise, Inc.?

PCA acquired Boise, Inc. in 2013, significantly expanding its sales and workforce.

How many employees does PCA have?

PCA has approximately 13,600 employees.

What is PCA’s annual production capacity for containerboard?

PCA produces over 4.5 million tons of containerboard annually.

How does PCA differentiate itself from larger competitors?

PCA focuses on smaller customers and offers a high degree of operational flexibility and personalized service.

What is PCA’s approach to sustainability?

PCA emphasizes sustainability by investing in eco-friendly packaging solutions and reducing its environmental footprint.

What recent advancements has PCA made?

PCA has made advancements in sustainable packaging, invested in modern machinery, and enhanced production efficiency.

What is PCA’s market share in the US containerboard market?

PCA holds roughly a 10% share of the domestic containerboard market.

What is PCA’s mission?

PCA's mission is to combine great products with a knowledgeable team to deliver innovative packaging solutions and an outstanding service experience.

Packaging Corp of America

NYSE:PKG

PKG Rankings

PKG Stock Data

19.03B
89.81M
1.54%
91.62%
1.53%
Packaging & Containers
Paperboard Containers & Boxes
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United States of America
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