Every material Form 8-K Packaging Corporation of America has filed with the SEC since July 23, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Packaging Corporation of America reported third quarter 2026 net income of $262 million, or $2.93 per share, compared with $226.9 million, or $2.51 per share, a year earlier. Net sales were $2.6 billion, up from $2.3 billion, and excluding special items EPS was $3.04, above the company's prior third quarter guidance of $2.91. The company also guided fourth quarter 2026 earnings to $2.81 per share excluding special items, while nine-month net income fell to $625.3 million from $672.3 million.
Q3 2026 reported diluted EPS of $2.93 vs. $2.51 in Q3 2025; EPS excluding special items of $3.04 vs. $2.73
Q3 EPS excluding special items was $0.13 above the $2.91 guidance
Fourth quarter 2026 EPS guidance of $2.81 per share, excluding special items
Nine-month 2026 net income of $625.3 million vs. $672.3 million in the same period of 2025
Packaging Corporation of America reported second quarter 2026 net income of $192 million, or $2.15 per diluted share, down from $2.67 a year earlier, while net sales rose to $2.5 billion from $2.2 billion. Excluding special items, EPS was $2.35 versus $2.48, and the company said it expects third quarter 2026 EPS of $2.91 excluding special items.
Q2 2026 diluted EPS was $2.15 versus $2.67 in Q2 2025; excluding special items, $2.35 versus $2.48.
Net sales were $2.5 billion in Q2 2026 compared with $2.2 billion in Q2 2025; special items included Wallula mill restructuring charges of $6.3 million in the quarter.
Q2 2026 EPS was $0.02 above the company's prior second quarter guidance of $2.33 per share, excluding special items.
The company expects third quarter 2026 EPS of $2.91 per share, excluding special items.
Packaging Corporation of America reported first quarter 2026 net income of $170.9 million, or $1.91 per diluted share, down from $203.8 million, or $2.26, a year earlier, on net sales of $2.4 billion versus $2.1 billion. Excluding special items, diluted EPS rose to $2.40 from $2.31 and beat the company's $2.20 first quarter guidance, and the company expects second quarter 2026 EPS of $2.33 excluding special items.
Reported diluted EPS was $1.91 versus $2.26 a year earlier, with special items of $0.49 per share, mainly a $53.3 million charge tied to the Wallula, Washington containerboard mill restructuring.
Excluding special items, diluted EPS was $2.40 versus $2.31, which was $0.20 above first quarter guidance of $2.20.
Net sales rose to $2.37 billion from $2.14 billion, and total corrugated products shipments per day rose 21.8% including the acquired Greif business.
For the second quarter of 2026, the company expects EPS of $2.33 excluding special items, with further restructuring and integration costs expected.
Packaging Corporation of America said director Paul Stecko will retire from its board and not stand for reelection at the 2026 annual meeting, reducing the board from ten to nine directors. The company also promoted Fabian Strauss to Senior Vice President – Finance, Controller & Treasurer, effective March 1, 2026, making him principal accounting officer, and disclosed changes to its long-term equity award agreements and a retirement agreement with former CFO Robert Mundy.
Paul T. Stecko informed the board on February 25, 2026 of his retirement; the board will shrink from ten to nine directors at the 2026 annual meeting.
Fabian C. Strauss, age 45, was promoted to Senior Vice President – Finance, Controller & Treasurer on March 1, 2026, with an annual base salary of $455,000.
Robert Mundy retired as Special Advisor effective March 1, 2026; his 9,928 restricted shares vest as of the retirement date, subject to covenant compliance.
On February 25, 2026, new forms of performance unit and RSU award agreements were approved for awards from fiscal year 2026 onward.
Packaging Corporation of America reported fourth quarter 2025 net income of $102 million, or $1.13 per share, down from $221 million, or $2.45 per share, a year earlier, while net sales rose to $2.4 billion from $2.1 billion. Excluding special items, including Wallula mill restructuring charges of $128.0 million, quarterly EPS was $2.32 versus $2.47, and full year EPS excluding special items rose to $9.84 from $9.04. The company expects first quarter 2026 earnings of $2.20 per share excluding special items, and said fourth quarter results were below its own guidance.
Q4 2025 reported net income $101.8 million, or $1.13 per share, versus $221.1 million, or $2.45 per share, in Q4 2024
Full year 2025 net income excluding special items was $888 million, or $9.84 per share, versus $814.5 million, or $9.04 per share, in 2024
Q4 2025 results were lower than fourth quarter guidance due to unfavorable December volume and mix
First quarter 2026 earnings are expected to be $2.20 per share excluding special items
On December 3, 2025, Packaging Corp of America said it will permanently shut the No. 2 paper machine and kraft pulping facilities at its Wallula, Washington containerboard mill, with the work expected to finish by the end of the first quarter of 2026. The company estimates $205 million in pre-tax restructuring charges, mostly recorded in the fourth quarter of 2025 and first quarter of 2026, which will reduce reported earnings for those periods. The mill's annual capacity falls by 250,000 tons, and the company says production cost there should drop by about $125 per ton from 2025 levels.
Pre-tax restructuring charges estimated at $205 million, including about $165 million of non-cash impairment and accelerated depreciation and $40 million of cash charges
No. 2 paper machine and kraft pulping facilities to be shut; No. 3 paper machine and recycled pulping facilities continue operating; completion expected by end of Q1 2026
About 200 positions expected to be eliminated
Mill capacity reduced by 250,000 tons per year; lower production cost of about $125 per ton versus 2025 levels
Packaging Corporation of America reported third quarter 2025 net sales of $2.3 billion, up from $2.2 billion a year earlier, while reported diluted earnings per share fell to $2.51 from $2.64. Excluding special items, EPS rose to $2.73 from $2.65, and the company guided to fourth quarter 2025 EPS of $2.40 excluding special items, which matters to shareholders because it reflects the early effects of the Greif containerboard acquisition.
Q3 net income was $226.9 million, or $2.51 per diluted share, versus $238.1 million, or $2.64, in Q3 2024; excluding special items, EPS was $2.73 versus $2.65.
Net sales were $2.3 billion versus $2.2 billion; the Greif containerboard business acquisition closed on September 2, 2025, and special items totaled $26.3 million pre-tax in Q3.
Fourth quarter 2025 EPS is expected to be $2.40 excluding special items, citing the Massillon mill outage and seasonally lower corrugated volumes.
On July 31, 2025, Packaging Corporation of America entered two credit agreements: a Commercial Credit Agreement with a $500 million three-year term loan and a $600 million revolver, and a Farm Credit Agreement with a $500 million seven-year term loan. The term loans may only be used to complete the Greif Acquisition, which PCA expects to fully draw at closing, and the filing says the company's prior Mizuho credit agreement was terminated. The filing adds significant new borrowing tied to a pending acquisition, which shareholders should weigh against the company's leverage covenants.
Commercial Credit Agreement: $500 million three-year unsecured term loan and $600 million unsecured revolving credit facility
Farm Credit Agreement: $500 million seven-year unsecured term loan, with pricing based on PCA's Public Debt Rating
Term loan proceeds may only be used to complete the Greif Acquisition, and PCA expects to fully draw them at closing
Old Credit Agreement with Mizuho Bank, dated June 8, 2021, was terminated; it had no borrowings outstanding apart from about $27.5 million of letters of credit
Packaging Corporation of America reported second quarter 2025 net income of $242 million, or $2.67 per diluted share, up from $2.21 a year earlier, on net sales of $2.2 billion. Excluding special items, EPS was $2.48 versus $2.20, and results were $0.07 above the company's prior second quarter guidance of $2.41. For shareholders, the company also guided to third quarter EPS of $2.80 excluding special items, which does not include the pending Greif containerboard acquisition.
Q2 2025 net income was $241.5 million, or $2.67 per diluted share, versus $198.9 million, or $2.21, in Q2 2024
Excluding special items, Q2 2025 EPS was $2.48, compared with $2.20 in Q2 2024
Q2 net sales were $2,171.3 million versus $2,075.3 million, and segment operating income was $333.7 million versus $276.0 million
Third quarter 2025 EPS guidance is $2.80 excluding special items; guidance excludes the pending Greif containerboard business acquisition
Packaging Corporation of America agreed on June 30, 2025 to acquire the containerboard business of Greif, Inc. for $1.8 billion in cash. Closing is expected in the third quarter of 2025 or sooner, subject to antitrust clearance, and the deal can be terminated if it has not closed by June 30, 2026.
Purchase price is $1.8 billion in cash, agreed June 30, 2025 with Greif, Inc. and Greif Packaging LLC
Closing anticipated in the third quarter of 2025 or sooner, subject to Hart-Scott-Rodino waiting period expiration
Outside Date of June 30, 2026, extendable by two ninety-day periods in certain circumstances
PCA would pay a termination fee to the seller in certain antitrust-related failure scenarios
Packaging Corp of America reported first-quarter 2025 net income of $204 million, or $2.26 per share, up from $147 million, or $1.63 per share, a year earlier. Excluding special items, EPS was $2.31, beating the company's $2.21 guidance, and the company expects second-quarter earnings of $2.41 per share excluding special items.
Net sales were $2.1 billion for the quarter, compared with $2.0 billion in the first quarter of 2024.
Diluted EPS excluding special items was $2.31, versus $1.72 a year earlier and $0.10 above the company's first-quarter guidance of $2.21.
Packaging segment operating income excluding special items was $284.0 million, up from $207.7 million.
The company expects second-quarter earnings of $2.41 per share excluding special items, and cited higher costs from an accelerated outage and rail rate increases.
Packaging Corporation of America said CFO Robert P. Mundy will step down as Chief Financial Officer on May 1, 2025, and remain in an advisory role until his planned retirement on March 1, 2026. General Counsel Kent A. Pflederer will become Executive Vice President and CFO on the same date, with a base salary of $750,000 and eligibility for incentive and equity awards. The filing also describes related management changes, including Thomas A. Hassfurther being named President.
Robert P. Mundy steps down as CFO effective May 1, 2025; retires March 1, 2026 and keeps his current base salary until then
Kent A. Pflederer, General Counsel since 2013 and with the company since 2007, becomes EVP and CFO on May 1, 2025
Pflederer's annual base salary will be $750,000, with eligibility for annual incentive and long-term equity awards
Thomas A. Hassfurther named President; D. Ray Shirley named EVP, Corrugated Products
Packaging Corporation of America reported fourth quarter 2024 net income of $221 million, or $2.45 per diluted share, up from $189 million, or $2.10, a year earlier. Full year 2024 net income was $805 million, or $8.93 per share, compared with $765 million, or $8.48, in 2023. The company expects first quarter 2025 earnings of $2.21 per share, below its fourth quarter result.
Q4 2024 net sales were $2.1 billion, compared with $1.9 billion in Q4 2023; full year net sales were $8.4 billion, versus $7.8 billion in 2023.
Q4 2024 diluted EPS excluding special items was $2.47, versus $2.13 a year earlier; full year EPS excluding special items was $9.04, versus $8.70.
Management expects first quarter 2025 earnings of $2.21 per share, citing rail rate increases, higher labor and benefits costs, and scheduled mill outages at Counce, TN and Valdosta, GA.
Q4 2024 results were equal to the company's fourth quarter guidance.
Packaging Corporation of America reported third quarter 2024 net income of $238 million, or $2.64 per share, up from $183 million, or $2.03 per share, a year earlier, on net sales of $2.2 billion versus $1.9 billion. Excluding special items, diluted EPS was $2.65, and the company said results were $.20 above its third quarter guidance. The company expects fourth quarter 2024 earnings of $2.47 per share, which gives shareholders a near-term earnings outlook.
Third quarter net income was $238 million, or $2.64 per diluted share, versus $183 million, or $2.03, in the third quarter of 2023.
Third quarter net sales were $2.2 billion, compared with $1.9 billion a year earlier.
Results were $.20 per share above third quarter guidance of $2.45, mainly from higher volume and higher prices and mix in the Packaging segment.
Fourth quarter 2024 earnings are expected to be $2.47 per share, with higher operating and converting costs and lower corrugated shipments from two fewer shipping days.
Packaging Corporation of America reported second quarter 2024 net income of $199 million, or $2.21 per diluted share, down from $2.24 a year earlier, while net sales rose to $2.1 billion from $2.0 billion. Excluding special items, EPS was $2.20 versus $2.31, but that beat the company's $2.07 second quarter guidance by $0.13. The company expects third quarter earnings of $2.45 per share, citing higher prices and mix in both segments.
Second quarter net income was $198.9 million, or $2.21 diluted EPS, versus $202.7 million, or $2.24, in the second quarter of 2023
Net sales were $2,075.3 million versus $1,952.1 million a year earlier
EPS excluding special items of $2.20 beat second quarter guidance of $2.07 per share by $0.13
Third quarter 2024 earnings are expected at $2.45 per share, with one less shipping day for the corrugated business
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