Packaging Corporation of America (PKG) earnings

PACKAGING CORP OF AMERICA· Consumer Discretionary

Results to: Jun 2026
Latest analysed call: Sep 2026 (Q3 FY26)
Balance sheet to: Dec 2025

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Packaging Corporation of America earnings: last reported Thu, 22 Oct 2026, for the quarter ended Sep 2026.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	2,490 $ million	+14.7% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	11.7 %	−3.7 pts YoY	Operating profit / revenue	Quarter to Jun 2026	For the quarter; a change is in percentage points.
Net profit	192 $ million	−20.5% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.

Source: Inve data from filed results (SEC filings) · to Jun 2026

Price

$247.29 −0.65% · −$1.63

Last close Oct 23, 2026 · US · USD · Source: Inve

Performance +18.5% 1Y

1Y: $208.74 on 22 Oct 2025 → $247.29. High $257.43 (11 Aug 2026), low $191.68 (20 Nov 2025).

Previous close: $248.92
52-week range: $191.68 – $257.43
One year: +15.96%

Overview

Symbol: PKG
Sector: Consumer Discretionary
Exchange: US
Currency: USD

Financials

What the filings say

Net profit, year on year: −20% (quarter to jun 2026 against jun 2025).

In $ million. Oldest period first.

Line item	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	2,182	2,146	2,141	2,171	2,313	2,364	2,368	2,490
Operating profit	327	302	280	334	325	169	251	291
Operating margin	15.0%	14.1%	13.1%	15.4%	14.0%	7.1%	10.6%	11.7%
Profit before tax	319	292	267	321	305	135	220	259
Tax rate	25.3%	24.1%	23.8%	24.7%	25.7%	24.3%	22.3%	25.8%
Net profit	238	221	204	242	227	102	171	192
EPS ($ per share)	2.65	—	2.27	2.68	2.52	—	1.92	2.16

Source: Inve data · income statement, quarterly · to Jun 2026

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity capital	1	1	1	1	1	1	1	1
Reserves	2,316	2,705	2,836	3,102	3,187	3,447	3,777	3,931
Total liabilities	3,897	4,165	4,187	4,230	4,337	4,684	4,429	6,128
Fixed assets	3,109	3,152	3,193	3,529	3,900	3,864	4,039	4,985
Total assets	6,570	7,236	7,433	7,837	8,004	8,681	8,833	10,726

Source: Inve data · balance sheet · to Dec 2025

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from operations	1,180	1,207	1,033	1,094	1,495	1,315	1,191	1,558
Cash from investing	-608	-547	-426	-794	-834	-875	-278	-2,573
Cash from financing	-427	-343	-312	-656	-960	-112	-876	859
Net cash flow	145	318	295	-356	-299	328	37	-156
Capital expenditure	-551	-399	-421	-605	-824	-470	-670	-829
Free cash flow	629	808	612	489	671	845	522	729

Source: Inve data · cash flow · to Dec 2025

PKG revenue by segment

PKG revenue by business segment, share of consolidated revenue by quarter
Segment	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	YoY growth latest quarter
Paper	7%	7%	7%	7%	7%	7%	7%	6%	+7.9%
Corporate and Other	1%	1%	1%	1%	1%	1%	1%	1%	+8.7%

Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.

See how segments are shifting across companies → Segment Shift

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	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.

Insider filings

66 filings between Feb 5, 2026 and Aug 20, 2026.

Open market

decisions to buy or sell

Purchases

None

No insider bought shares.

Sales

$15.00M

6 sales by 3 insiders

Compensation

not trading decisions

40: Award — granted as compensation
20: Tax withheld — shares kept back by the company to cover tax

Who traded

open market only

Insider	Bought	Sold	Last filing
Hassfurther Thomas A	—	$9.98M	Aug 7, 2026
Shirley Donald R.	—	$3.01M	Aug 20, 2026
KOWLZAN MARK W	—	$2.01M	May 27, 2026

Latest filings (50)

Date	Insider	What	Shares	Value
Aug 20, 2026	Shirley Donald R. Exec. VP	Sale	12,000	$3.01M
Aug 7, 2026	Hassfurther Thomas A President	Sale	7,063	$1.79M
Aug 5, 2026	Hassfurther Thomas A President	Sale	8,797	$2.26M
Aug 3, 2026	Hassfurther Thomas A President	Sale	12,531	$3.13M
May 27, 2026	KOWLZAN MARK W Chairman & CEO	Sale	9,266	$2.01M
May 12, 2026	MENCOFF SAMUEL M Director	Award	591	$0
May 12, 2026	Harman Donna A. Director	Award	591	$0
May 12, 2026	GOWLAND KAREN E Director	Award	591	$0
May 12, 2026	Farrington Duane C Director	Award	591	$0
May 12, 2026	SOULELES THOMAS S Director	Award	591	$0
May 12, 2026	PORTER ROGER B Director	Award	591	$0
May 12, 2026	LYONS ROBERT C Director	Award	591	$0
May 12, 2026	BEEBE CHERYL K Director	Award	591	$0
Mar 27, 2026	Olivier Darla J. SVP	Award	2,260	$0
Mar 27, 2026	Hassfurther Thomas A President	Tax withheld	12,615	$2.68M
Mar 27, 2026	Hassfurther Thomas A President	Award	2,279	$0
Mar 27, 2026	KOWLZAN MARK W Chairman & CEO	Tax withheld	20,513	$4.35M
Mar 27, 2026	Pflederer Kent A. EVP & CFO	Award	5,596	$0
Mar 27, 2026	KOWLZAN MARK W Chairman & CEO	Award	3,292	$0
Mar 27, 2026	KOWLZAN MARK W Chairman & CEO	Award	43,010	$0
Mar 27, 2026	Carter Charles J. EVP-Mill Ops.	Award	8,282	$0
Mar 27, 2026	Pflederer Kent A. EVP & CFO	Award	428	$0
Mar 27, 2026	Carter Charles J. EVP-Mill Ops.	Tax withheld	3,509	$744.8K
Mar 27, 2026	Carter Charles J. EVP-Mill Ops.	Award	634	$0
Mar 27, 2026	Shirley Donald R. Exec. VP	Award	478	$0
Mar 27, 2026	Hassfurther Thomas A President	Award	29,778	$0
Mar 27, 2026	Shirley Donald R. Exec. VP	Award	6,254	$0
Mar 27, 2026	Olivier Darla J. SVP	Award	173	$0
Mar 27, 2026	Pflederer Kent A. EVP & CFO	Tax withheld	2,670	$566.7K
Mar 27, 2026	Olivier Darla J. SVP	Tax withheld	1,055	$223.9K
Mar 27, 2026	Shirley Donald R. Exec. VP	Tax withheld	2,650	$562.5K
Mar 6, 2026	Olivier Darla J. SVP	Award	1,182	$0
Mar 6, 2026	Olivier Darla J. SVP	Award	104	$0
Mar 6, 2026	KOWLZAN MARK W Chairman & CEO	Tax withheld	8,025	$1.79M
Mar 6, 2026	Hassfurther Thomas A President	Award	1,018	$0
Mar 6, 2026	Hassfurther Thomas A President	Award	11,474	$0
Mar 6, 2026	KOWLZAN MARK W Chairman & CEO	Award	16,637	$0
Mar 6, 2026	Carter Charles J. EVP-Mill Ops.	Tax withheld	1,857	$413.2K
Mar 6, 2026	Carter Charles J. EVP-Mill Ops.	Award	384	$0
Mar 6, 2026	Carter Charles J. EVP-Mill Ops.	Award	4,331	$0
Mar 6, 2026	Shirley Donald R. Exec. VP	Tax withheld	1,402	$312.0K
Mar 6, 2026	Hassfurther Thomas A President	Tax withheld	4,917	$1.09M
Mar 6, 2026	Shirley Donald R. Exec. VP	Award	290	$0
Mar 6, 2026	Shirley Donald R. Exec. VP	Award	3,270	$0
Mar 6, 2026	KOWLZAN MARK W Chairman & CEO	Award	1,476	$0
Mar 6, 2026	Olivier Darla J. SVP	Tax withheld	559	$124.4K
Mar 6, 2026	Pflederer Kent A. EVP & CFO	Tax withheld	1,412	$314.2K
Mar 6, 2026	Pflederer Kent A. EVP & CFO	Award	259	$0
Mar 6, 2026	Pflederer Kent A. EVP & CFO	Award	2,926	$0
Feb 25, 2026	Olivier Darla J. SVP	Award	1,157	$0

Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.

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