Packaging Corp of America Q2 2024 10-Q Filing

TL;DR

**PKG Q2 10-Q filed. Financials and ops details out.**

AI Summary

Packaging Corporation of America (PKG) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures related to their paperboard container and box manufacturing business are presented.

Why It Matters

This filing provides investors with crucial financial and operational insights into Packaging Corporation of America's performance, impacting investment decisions and market perception.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the paper and packaging industry can be subject to economic fluctuations.

Key Players & Entities

• PACKAGING CORP OF AMERICA (company) — Filer
• PKG (company) — Ticker Symbol
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• 1 NORTH FIELD CT (location) — Business Address
• LAKE FOREST (location) — City
• IL (location) — State
• 60045 (location) — ZIP Code

FAQ

Key Financial Figures

• $0.01 — 1,810 shares of common stock, par value $0.01 per share. Securities registered purs

Filing Documents

• pkg-20240630.htm (10-Q) — 2514KB
• pkg-ex31_1.htm (EX-31.1) — 10KB
• pkg-ex31_2.htm (EX-31.2) — 10KB
• pkg-ex32.htm (EX-32) — 10KB
• img5156548_0.jpg (GRAPHIC) — 149KB
• 0000950170-24-093466.txt ( ) — 11407KB
• pkg-20240630.xsd (EX-101.SCH) — 1326KB
• pkg-20240630_htm.xml (XML) — 2454KB

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28 All reports we file with the Securities and Exchange Commission (SEC) are available free of charge via the Electronic Data Gathering Analysis and Retrieval (EDGAR) System on the SEC website at www.sec.gov. We also provide copies of our SEC filings at no charge upon request and make electronic copies of our reports available through our website at www.packagingcorp.com as soon as reasonably practicable after filing such material with the SEC. i PART I FINANCIAL INFORMATION

FINANCI AL STATEMENTS

Item 1. FINANCI AL STATEMENTS Packaging Corporation of America Consolidated Statements of In come and Comprehensive Income (unaudited, dollars in millions, except per-share data) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net sales $ 2,075.3 $ 1,952.1 $ 4,054.8 $ 3,928.4 Cost of sales ( 1,637.6 ) ( 1,507.4 ) ( 3,246.7 ) ( 3,052.3 ) Gross profit 437.7 444.7 808.1 876.1 Selling, general and administrative expenses ( 149.5 ) ( 145.6 ) ( 301.3 ) ( 293.9 ) Other expense, net ( 12.2 ) ( 14.7 ) ( 34.8 ) ( 27.2 ) Income from operations 276.0 284.4 472.0 555.0 Non-operating pension income (expense) 1.1 ( 2.0 ) 2.2 ( 4.0 ) Interest expense, net ( 10.4 ) ( 14.6 ) ( 19.9 ) ( 29.9 ) Income before taxes 266.7 267.8 454.3 521.1 Provision for income taxes ( 67.8 ) ( 65.1 ) ( 108.4 ) ( 128.3 ) Net income $ 198.9 $ 202.7 $ 345.9 $ 392.8 Net income per common share: Basic $ 2.22 $ 2.25 $ 3.86 $ 4.37 Diluted $ 2.21 $ 2.24 $ 3.84 $ 4.35 Dividends declared per common share $ 1.25 $ 1.25 $ 2.50 $ 2.50 Net income 198.9 202.7 345.9 392.8 Other comprehensive income, net of tax: Changes in unrealized losses on marketable debt securities, net of tax of $ 0.0 million, $ 0.0 million, $ 0.0 million, and ($ 0.2 ) million, respectively ( 0.1 ) — ( 0.2 ) 0.5 Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($ 0.3 ) million, ($ 0.6 ) million, ($ 0.7 ) million, and ($ 1.1 ) million, respectively 1.1 1.6 2.1 3.2 Other comprehensive income 1.0 1.6 1.9 3.7 Comprehensive income $ 199.9 $ 204.3 $ 347.8 $ 396.5 See accompanying condensed notes to unaudit

View Full Filing

View this 10-Q filing on SEC EDGAR