NYSE$PKG
Packaging Corp of America · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported net income of $199 million and net sales of $2.1 billion.
Packaging Corporation of America (PCA) reported second quarter 2024 results, with net income of $199 million, or $2.21 per share. Excluding special items, net income was $199 million, or $2.20 per share. Net sales for the quarter were $2.1 billion, compared to $2.0 billion in the second quarter of 2023. The results were $0.13 above the second quarter guidance of $2.07 per share due to higher volume in the Packaging segment, lower operating and converting costs, and lower freight costs.
- Corrugated products shipments per day were up 9.2% over last year’s second quarter.
- Total shipments were up 10.9% with one additional shipping day.
- Containerboard production reached 1,281,000 tons.
- Sales volume in the Paper segment was up 12% compared to the second quarter of 2023.
Headline financials
Revenue & EPS history
PCA · Revenue · Quarterly
$2.08B
Revenue by segment
PCA · $1.92B total across 2 segments · Q3 2023
- Packaging$1.76B-9.3%91.8%
- Paper$158M-4.5%8.2%
Forward guidance
The company expects third quarter earnings of $2.45 per share.
Tailwinds
- Prices and mix in both Packaging and Paper segments will move higher.
- Implementation of previously announced increases along with higher containerboard export prices.
- Shipments-per-day to continue to strengthen, potentially setting a new third quarter record.
- Higher containerboard volume.
- Attempt to build some inventory ahead of the scheduled maintenance outage at the Deridder mill in October.
Headwinds
- There is one less shipping day for the corrugated business.
- Paper volume will be slightly lower primarily due to the timing of the back-to-school business received in the second quarter.
- Operating and converting costs should be higher primarily due to seasonal electricity usage and prices.
- Slightly higher recycled fiber costs.
- Scheduled outage expenses expected to be slightly lower.
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 Q2 2024
-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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