Welcome to our dedicated page for Packaging Amer news (Ticker: PKG), a resource for investors and traders seeking the latest updates and insights on Packaging Amer stock.
Packaging Corp. of America (PKG) delivers innovative containerboard and corrugated packaging solutions across North America. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases and curated analysis covering earnings announcements, operational expansions, sustainability efforts, and leadership updates. Our repository ensures you stay informed about PKG's role in the evolving packaging sector, including its manufacturing capabilities and customer-focused service model.
Key updates include quarterly financial results, facility investments, product innovations, and supply chain developments. Bookmark this page for direct access to primary sources about PKG's market positioning and industry leadership.
Packaging Corporation of America (NYSE: PKG) reported a first quarter 2023 net income of $190 million or $2.11 per share, a decrease from $198 million or $2.20 per share in Q1 2022, excluding special items. Net sales fell to $2.0 billion, down from $2.1 billion in the prior year. Key challenges included a 12.7% decline in corrugated products shipments and increased operating costs. Segment income for Packaging dropped to $268 million from $362 million year over year. While prices and mix improved, they were insufficient to offset decreased volumes and sales. The company anticipates lower earnings of $1.96 per share for Q2 2023, primarily due to expected declines in pricing and higher costs.
Packaging Corporation of America (NYSE: PKG) will host a conference call on April 25, 2023, at 9:00 a.m. Eastern Time to discuss its first quarter 2023 financial results. The earnings report will be released following market close on April 24, 2023. Investors can pre-register for the call via a provided link or dial in the day of using toll-free numbers. A replay will be available from April 25 until May 9, 2023. PCA is a significant player in the containerboard and uncoated freesheet paper market in North America, operating eight paper mills and 89 corrugated products plants.
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