Skip to content
AnalystLens

Packaging Corp. of America 8-K Report, Financial Results (Jul 23, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 23, 2026
Period End
July 22, 2026
Security
PKG
In the record · 2016–202610-K1110-Q328-K91

PKG filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 91 current reports (8-K) between 2016 and 2026.

  1. Impairment8-K · Aug ’17Aug ’17
  2. Leadership change8-K · May ’19May ’19
  3. Material agreement8-K · Jun ’21Jun ’21
  4. Material agreement8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed July 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Packaging Corporation of America reported second quarter 2026 net income of $192.1 milliona, or $2.15 per diluted share, compared with $241.5 million, or $2.67 per diluted share, in the second quarter of 2025.

Excluding special items, net income was $210.1 millionb, or $2.35 per share, versus $224.2 million, or $2.48 per share, a year earlier. Net sales rose to $2.49 billion from $2.17 billion, and income from operations fell to $291.2 million from $333.7 million. The filing attributes the reported decline mainly to special items for facility closures, restructuring of the Wallula, WA containerboard mill, and acquisition and integration costs.

Excluding special items, the company says the acquired Greif operations added $0.14c per share, offsetting a $0.27 decline in legacy business earnings. Higher freight costs ($0.26), higher corporate and other expenses ($0.12), and unfavorable price and mix in the packaging business ($0.11) were the largest legacy headwinds, partly offset by higher packaging production and sales volume ($0.26). The company said second quarter earnings of $2.35 per share, excluding special items, were $0.02 above its guidance of $2.33 per share.

Corrugated products shipments rose 24.3% per day and in total versus the second quarter of 2025, and legacy packaging shipments rose 4.1% per day and in total, which management described as an all-time quarterly record for its legacy corrugated operations. Management said it began to realize its first announced price increase in corrugated products. For the third quarter, management expects earnings of $2.91d per share, excluding special items.

It expects higher containerboard and corrugated prices, continued strong packaging demand, higher freight and recycled fiber costs, and lower maintenance outage expenses in the Packaging segment, with higher outage expenses in the Paper segment due to a scheduled outage at the International Falls mill. The company also expects further acquisition, integration and facility closure costs in the third quarter.

02—Key points

Key Highlights

  1. Q2 2026 reported diluted EPS was $2.15, down from $2.67 in Q2 2025; excluding special items, diluted EPS was $2.35 versus $2.48 a year earlier.
  2. Net sales were $2,489.9 million in Q2 2026 versus $2,171.3 million in Q2 2025, while income from operations was $291.2 million versus $333.7 million.
  3. The acquired Greif operations contributed $0.14 per share to Q2 2026 earnings, offsetting a $0.27 decline in legacy business earnings excluding special items.
  4. Corrugated products shipments were up 24.3% per day and in total; legacy packaging shipments were up 4.1%, described as an all-time quarterly record for legacy corrugated operations.
  5. Special items in Q2 2026 included $6.3 million of Wallula mill restructuring charges, $14.1 million of facility closure and write-off charges, and $3.3 million of acquisition and integration costs; six-month Wallula charges totaled $59.7 million.
  6. Management guides to third-quarter 2026 EPS of $2.91 excluding special items, citing higher prices from the first and second announced price increases and higher freight and recycled fiber costs.
  7. Cash, cash equivalents and marketable debt securities were $666.8 million at June 30, 2026, down from $955.9 million a year earlier, while Q2 interest expense rose to $33.3 million from $13.1 million.

03—Questions

Frequently Asked Questions

  1. How did Packaging Corporation of America perform in the second quarter of 2026?

    The company reported net income of $192.1 million, or $2.15 per diluted share, on net sales of $2,489.9 million. Excluding special items, net income was $210.1 million, or $2.35 per diluted share, which the company said was $0.02 above its guidance of $2.33 per share.

  2. Why did reported earnings decline compared with the prior year?

    Reported diluted EPS fell to $2.15 from $2.67. The filing attributes the decline mainly to special items in 2026, including facility closure costs and write-offs, Wallula mill restructuring costs, and acquisition and integration costs, while 2025 included gains on real estate sales tied to facility closures.

  3. What does management expect for the third quarter of 2026?

    Management expects third-quarter earnings of $2.91 per share, excluding special items. It cited higher containerboard and corrugated prices, one more shipping day, higher freight and recycled fiber costs, lower packaging maintenance outage expenses, and a scheduled outage at the International Falls mill that will reduce Paper segment volume.

  4. How is the Greif acquisition affecting results?

    The company said the acquired Greif operations contributed $0.14 per share of earnings in the second quarter, driven by strong corrugated plant volumes and improved mill performance. Those contributions partly offset a $0.27 per share decline in legacy business earnings excluding special items.

04—Continue

← View all 8-K filings