NYSE$PKG
Packaging Corp of America · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported first quarter results with net income of $190 million and net sales of $2.0 billion.
Packaging Corporation of America reported first quarter 2023 results with net income of $190 million, or $2.11 per share, and net sales of $2.0 billion. Excluding special items, net income was $198 million, or $2.20 per share. Packaging segment demand was below expectations due to consumer spending impacted by higher interest rates and inflation.
- Net income for the first quarter of 2023 was $190 million, or $2.11 per share.
- Net sales for the first quarter of 2023 were $2.0 billion, compared to $2.1 billion in 2022.
- Excluding special items, net income was $198 million, or $2.20 per share.
- Packaging segment demand was below expectations due to consumer spending impacted by higher interest rates and inflation.
Headline financials
Revenue & EPS history
PCA · Revenue · Quarterly
$1.98B
Revenue by segment
PCA · $1.96B total across 2 segments · Q1 2023
- Packaging$1.81B-7.9%92.3%
- Paper$151M-1.7%7.7%
Forward guidance
The company expects second quarter earnings of $1.96 per share.
Tailwinds
- Improved volume is expected in the Packaging segment.
- Most operating costs are expected to trend lower.
Headwinds
- There is one less shipping day for the corrugated business.
- Prices will be lower as a result of previously published domestic containerboard price decreases along with lower export prices.
- Sales volume as well as prices and mix in the Paper segment are assumed to be slightly lower based on lower demand.
- Converting costs, scheduled maintenance outage expense and depreciation expense will be higher.
- Higher freight and logistics expenses are expected compared to the first quarter due to recent increases in contract rail rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.0%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.2%
Avg return
30 days after
45%
31 / 69 earnings
Positive
+14.3%
Q1 2020
Best reaction
-13.8%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.8% | +8.5% | +5.1% | |
| Q4 2025 | -2.5% | +0.0% | +3.8% | |
| Q3 2025 | +2.3% | -1.2% | -5.5% | |
| Q2 2025 | -1.6% | +0.8% | +9.5% | |
| Q1 2025 | -0.9% | -0.0% | +2.3% | |
| Q4 2024 | -9.8% | -11.4% | -10.6% | |
| Q3 2024 | +4.4% | +3.1% | +12.0% | |
| Q2 2024 | -0.1% | +2.9% | +4.3% | |
| Q1 2024 | -5.0% | -3.9% | +0.8% | |
| Q4 2023 | +3.1% | +1.9% | +5.4% | |
| Q3 2023 | +3.1% | +3.9% | +6.7% | |
| Q2 2023 | +11.1% | +11.3% | +5.9% | |
| Q1 2023 | -6.2% | -5.6% | -11.0% | |
| Q4 2022 | +6.6% | +6.7% | +6.0% | |
| Q3 2022 | -0.9% | +3.2% | +14.0% | |
| Q2 2022 | -3.3% | -0.7% | -1.2% | |
| Q1 2022 | -1.1% | -0.0% | -4.9% | |
| Q4 2021 | +6.3% | +11.6% | +10.8% | |
| Q3 2021 | +1.5% | +2.5% | -1.4% | |
| Q2 2021 | +3.3% | +5.9% | +12.2% | |
| Q1 2021 | +1.7% | +3.7% | +4.5% | |
| Q4 2020 | -5.8% | -3.7% | -5.6% | |
| Q3 2020 | -4.4% | -4.0% | +10.5% | |
| Q2 2020 | -1.5% | -7.2% | -1.4% | |
| Q1 2020 | +14.3% | +10.2% | +19.2% | |
| Q4 2019 | -4.6% | -6.9% | -13.2% | |
| Q3 2019 | -0.1% | +3.6% | +2.1% | |
| Q2 2019 | +0.7% | +0.8% | -3.1% | |
| Q1 2019 | -0.6% | +0.4% | -7.6% | |
| Q4 2018 | -0.5% | +1.9% | +2.3% | |
| Q3 2018 | +2.3% | +2.7% | +9.9% | |
| Q2 2018 | -4.6% | -4.5% | -4.9% | |
| Q1 2018 | +0.5% | -0.9% | +3.9% | |
| Q4 2017 | -0.3% | -2.3% | -5.9% | |
| Q3 2017 | -0.0% | -2.6% | -6.0% | |
| Q2 2017 | +1.8% | +0.8% | +1.6% | |
| Q1 2017 | +6.2% | +4.5% | +8.3% | |
| Q4 2016 | -1.5% | +0.7% | +0.2% | |
| Q3 2016 | -3.2% | -1.3% | +4.5% | |
| Q2 2016 | +0.9% | +1.2% | +6.3% | |
| Q1 2016 | +1.2% | — | — | |
| Q4 2015 | -13.8% | — | — | |
| Q3 2015 | -6.9% | — | — | |
| Q2 2015 | +7.2% | — | — | |
| Q1 2015 | -10.1% | — | — | |
| Q4 2014 | -4.7% | — | — | |
| Q3 2014 | +10.9% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -1.1% | — | — | |
| Q4 2013 | +10.0% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -1.2% | — | — | |
| Q1 2013 | +5.2% | — | — | |
| Q4 2012 | -1.8% | — | — | |
| Q3 2012 | +3.0% | — | — | |
| Q2 2012 | +3.7% | — | — | |
| Q1 2012 | +1.6% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2011 | +2.0% | — | — | |
| Q2 2011 | -9.7% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q4 2008 | -3.8% | — | — | |
| Q4 2010 | -3.8% | — | — | |
| Q3 2009 | +2.5% | — | — | |
| Q3 2010 | +2.5% | — | — | |
| Q2 2009 | +0.0% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q4 2009 | +0.0% | — | — |
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