NYSE$PKG
Packaging Corp of America · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
PCA's Q4 2022 financial performance reflected lower packaging demand offset by cost management and paper segment price increases, with earnings per share at $2.31.
Packaging Corporation of America reported a net income of $212 million, or $2.31 per share, for the fourth quarter of 2022. Net sales for the quarter were $1.98 billion. The company's performance was influenced by lower packaging demand, which was offset by effective cost management and price increases in the paper segment.
- Q4 2022 net income was $212 million, or $2.31 per share.
- Net sales for Q4 2022 reached $1.98 billion.
- Packaging segment experienced lower demand, but was offset by cost management.
- Paper segment benefited from price increases announced in the third quarter.
Headline financials
Revenue & EPS history
PCA · Revenue · Quarterly
$1.98B
Revenue by segment
PCA · $1.96B total across 2 segments · Q4 2022
- Packaging$1.81B-3.8%92.2%
- Paper$154M+7.7%7.8%
Forward guidance
PCA anticipates first quarter earnings of $2.23 per share, considering factors such as box demand, pricing adjustments, labor costs, chemical prices, and benefits from share repurchases.
Tailwinds
- Box demand expected to be similar to fourth quarter levels.
- Higher total volume with corrugated plants having four additional shipping days.
- Paper prices should move slightly higher with sales volume fairly flat.
- Expect lower wood and recycled fiber prices.
- Expect lower energy prices and lower scheduled maintenance outage expenses.
Headwinds
- Prices will move lower as a result of the recent decreases in the published domestic containerboard prices, and we are assuming lower export prices as well.
- Labor costs and certain indirect costs will increase as some containerboard mill operations were temporarily idled during the fourth quarter.
- Anticipate higher labor and benefits costs and other timing-related expenses that occur at the beginning of a new year.
- Expect higher prices for many chemicals, particularly starch and caustic soda.
- Expect higher interest and non-operating pension expenses and a higher tax rate.
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 Q4 2022
-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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