Packaging Corp of America Q3 2024 10-Q Filing

TL;DR

**PKG Q3 10-Q OUT: Financials detailed, Senior Notes prominent. Check debt maturity.**

AI Summary

Packaging Corporation of America (PKG) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational segments, including Paper and Packaging. Key financial instruments mentioned are various Senior Notes, such as the 4.05% Senior Notes due 2049 and 3.65% Senior Notes due 2024.

Why It Matters

This filing provides investors with a detailed look at Packaging Corporation of America's financial health and operational status for the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains details about various senior notes and their maturity dates, which can indicate financial leverage and potential refinancing risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 4.05% — Senior Notes Interest Rate (Represents the interest rate on a specific series of senior notes due in 2049.)
• 3.65% — Senior Notes Interest Rate (Represents the interest rate on a specific series of senior notes due in 2024.)

Key Players & Entities

• PACKAGING CORP OF AMERICA (company) — Filer
• 0000075677 (company) — Central Index Key
• 20240930 (date) — Period of Report
• 4.05% Senior Notes due December TwoThousandAndFourtyNine (dollar_amount) — Financial Instrument
• 3.65% Senior Notes due September TwoThousandAndTwentyFour (dollar_amount) — Financial Instrument

FAQ

Key Financial Figures

• $0.01 — 4,942 shares of common stock, par value $0.01 per share. Securities registered purs

Filing Documents

• pkg-20240930.htm (10-Q) — 2608KB
• pkg-ex31_1.htm (EX-31.1) — 10KB
• pkg-ex31_2.htm (EX-31.2) — 10KB
• pkg-ex32.htm (EX-32) — 11KB
• img5159431_0.jpg (GRAPHIC) — 149KB
• 0000950170-24-122936.txt ( ) — 11843KB
• pkg-20240930.xsd (EX-101.SCH) — 1345KB
• pkg-20240930_htm.xml (XML) — 2568KB

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 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 PART II Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales $ 2,182.4 $ 1,936.0 $ 6,237.2 $ 5,864.5 Cost of sales ( 1,677.2 ) ( 1,523.3 ) ( 4,923.8 ) ( 4,575.7 ) Gross profit 505.2 412.7 1,313.4 1,288.8 Selling, general and administrative expenses ( 162.0 ) ( 144.2 ) ( 463.3 ) ( 438.1 ) Other expense, net ( 16.1 ) ( 9.9 ) ( 51.0 ) ( 37.1 ) Income from operations 327.1 258.6 799.1 813.6 Non-operating pension income (expense) 1.2 ( 1.8 ) 3.4 ( 5.8 ) Interest expense, net ( 9.7 ) ( 12.3 ) ( 29.7 ) ( 42.2 ) Income before taxes 318.6 244.5 772.8 765.6 Provision for income taxes ( 80.5 ) ( 61.3 ) ( 188.8 ) ( 189.6 ) Net income $ 238.1 $ 183.2 $ 584.0 $ 576.0 Net income per common share: Basic $ 2.65 $ 2.04 $ 6.51 $ 6.41 Diluted $ 2.64 $ 2.03 $ 6.48 $ 6.38 Dividends declared per common share $ 1.25 $ 1.25 $ 3.75 $ 3.75 Net income $ 238.1 $ 183.2 $ 584.0 $ 576.0 Other comprehensive income, net of tax: Changes in unrealized gains on marketable debt securities, net of tax of ($ 0.3 ) million, ($ 0.1 ) million, ($ 0.3 ) million, and ($ 0.3 ) million, respectively 1.0 0.4 0.8 0.9 Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($ 0.4 ) million, ($ 0.5 ) million, ($ 1.0 ) million, and ($ 1.6 ) million, respectively 1.0 1.6 3.1 4.8 Other comprehensive income 2.0 2.0 3.9 5.7 Comprehensive income $ 240.1 $ 185.2 $ 587.9 $ 581.7 See accompanying

View Full Filing

View this 10-Q filing on SEC EDGAR