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 Corporation of America (NYSE: PKG) is a major participant in the corrugated and solid fiber box manufacturing industry, with a focus on containerboard products, corrugated packaging and uncoated freesheet paper. This news page aggregates company press releases and market updates so readers can follow how PCA’s operating decisions, acquisitions and financial performance evolve over time.
Recent news from PCA includes announcements about quarterly and annual earnings results, where the company reports net sales, net income, diluted earnings per share and segment performance for its Packaging and Paper segments. These releases often discuss drivers such as prices and mix in the Packaging and Paper segments, fiber costs, maintenance outage expenses, operating costs, freight expense and production and sales volumes.
PCA’s news flow also covers capital allocation and shareholder returns, including Board-approved regular quarterly dividends on its common stock, with details on dividend amounts, record dates and payment dates. In addition, the company issues press releases and related Form 8-K filings about strategic transactions, such as its agreement and subsequent completion of the acquisition of the Greif, Inc. containerboard business, which includes two containerboard mills and multiple sheet feeder and corrugated plants in the United States.
Operational updates appear in PCA’s news as well, including the announced reconfiguration of its Wallula, Washington containerboard mill, where the company plans to permanently shut down the No. 2 paper machine and kraft pulping facilities while continuing to operate the No. 3 paper machine and recycled pulping facilities. PCA also regularly announces conference calls to discuss its quarterly and full-year results, providing call times, registration links, dial-in numbers and replay information.
Investors and followers of PKG can use this page to review earnings releases, dividend declarations, acquisition updates, mill configuration changes and investor call announcements in one place.
Packaging Corporation of America (NYSE: PKG) will host a conference call on April 27, 2021, at 9:00 a.m. ET to discuss its first quarter 2021 results. Earnings will be released after market close on April 26, 2021. Participants can join the call by dialing (855) 730-0288 (U.S.) or (832) 412-2295 (International) by 8:45 a.m. ET. Mark Kowlzan will lead the call with conference ID 4555529. A replay will be available from April 27, 2021, until May 11, 2021. The call can also be accessed via webcast at PCA's website.
Packaging Corporation of America (NYSE: PKG) announced the discontinuation of uncoated freesheet (UFS) production at its Jackson, AL mill, transitioning the No. 3 paper machine to a linerboard production line. The conversion will increase capacity from 365,000 tons to 700,000 tons per year over 36 months. Initial production is set at 75% capacity post-first phase outage in 2022, with full capacity by late 2023. The capital investment is around $440 million, with projected pre-tax charges of $5-$10 million and $15-$20 million in asset impairment. PCA emphasizes improved profitability and supply integration.
Packaging Corporation of America (NYSE: PKG) has announced a quarterly dividend of $1.00 per share, payable on April 15, 2021, for shareholders of record by March 15, 2021. The Board of Directors will determine future dividends and their payment schedules. PCA ranks as the third largest producer of containerboard products and uncoated freesheet paper in North America, operating eight paper mills and 90 corrugated products plants.
Packaging Corporation of America (NYSE: PKG) reported Q4 2020 net income of $124 million, or $1.30 per share, down from $1.43 per share in Q4 2019. Full year 2020 net income reached $461 million, or $4.84 per share, a decrease from $7.34 in 2019. Q4 net sales remained flat at $1.7 billion, while full year sales dropped to $6.7 billion from $7.0 billion in 2019. Key factors impacting results included lower prices in the Packaging and Paper segments, increased maintenance and freight costs, and tax rate rises. Segment income for Packaging was $209.6 million, while Paper incurred a loss of $1.7 million.
Packaging Corporation of America (NYSE: PKG) is set to hold a conference call on January 28, 2021, at 9:30 a.m. ET to discuss its fourth quarter and full year 2020 results. Earnings results will be made public after market close on January 27, 2021. Interested parties can join the call by dialing (855) 730-0288 for U.S. callers or (832) 412-2295 for international attendees. Mark Kowlzan will lead the call, and a replay will be available until February 11, 2021. PCA is the third largest producer of containerboard products and operates eight paper mills and 92 plants in North America.
Packaging Corporation of America (NYSE: PKG) announced a significant increase in its quarterly cash dividend to an annual amount of $4.00 per share, up from $3.16, reflecting a 27% rise. The first dividend of $1.00 per share will be paid on January 15, 2021 to shareholders of record by December 21, 2020. This move highlights PCA's operational and financial strength, as emphasized by CEO Mark W. Kowlzan, who reaffirmed the company’s commitment to generating value for shareholders.
Packaging Corporation of America (NYSE: PKG) announced its Q3 2020 results, reporting a net income of $139 million, or $1.46 per share. Excluding special items, net income was $149 million, or $1.57 per share. Total net sales decreased to $1.69 billion from $1.75 billion in Q3 2019. The decline in earnings was attributed to lower prices and volumes in its Packaging and Paper segments, and expenses related to Hurricane Laura. Despite challenges, demand for corrugated products remained strong, with expectations for increased prices in the upcoming quarter.