Packaging Corporation of America (PKG) Q3 FY26 earnings call

Earnings call· Sep 2026 (Q3 FY26)· Consumer Discretionary· Oct 22, 2026

Source: earnings call transcript

Packaging Corporation of America delivered a strong third quarter, surpassing earnings guidance driven by robust price realization in its Packaging segment and better-than-expected contribution from the acquired Greif business. Despite facing significant headwinds from elevated input costs across labor, freight, and fiber, the company demonstrated operational excellence and continued to integrate the Greif assets effectively, leading to increased synergy realization. Management anticipates continued price improvements and solid demand into the fourth quarter, albeit with higher seasonal costs

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PKG operating KPIs by quarter

PKG operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	This call Sep 2026 Q3 FY26	Change vs prior quarter
Production volume Containerboard	1.398M tons For the quarter, we produced 1,398,000 tons of containerboard during the quarter. Source: earnings call transcript	1.415M tons We produced 1,415,000 tons of containerboard during the quarter. Source: earnings call transcript	—	+1.2%
Production volume Legacy containerboard	1.21M tons The legacy mills produced 1,210,000 tons of containerboard which was 25,000 tons less than the fourth quarter of 2025 and 40,000 tons less than the first quarter of 2025. Source: earnings call transcript	1.209M tons The legacy produced reduced 1,209,000 tons of containerboard, about even with the first quarter of 2026, and 14,000 tons more than the second quarter of 2025. Source: earnings call transcript	1.286M tons The legacy mills produced 1,286,000 tons of containerboard, about 77,000 tons more than the second quarter of 2026 and 31,000 tons more than the third quarter of 2025. Source: earnings call transcript	+6.4%
Production volume Acquired mills	—	206K tons The acquired mills produced 206,000 tons during the quarter, significantly exceeding their production in any quarter since the acquisition. Source: earnings call transcript	203K tons The acquired mills produced 203,000 tons, quite frankly, an exceptional number for a quarter of which Riverville was down for an extensive annual maintenance outage. Source: earnings call transcript	-1.5%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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