Packaging Corporation reported second-quarter 2026 net income of $192.1 million, or $2.15 diluted EPS, and adjusted net income of $210.1 million, or $2.35 diluted EPS excluding special items. Second-quarter net sales were $2,489.9 million, up from $2,171.3 million a year earlier. The company cited facility closure and Wallula mill restructuring costs among special items and provided third-quarter 2026 adjusted EPS guidance of $2.91 excluding special items.
Financial Highlights
- Net sales: $2,489.9 million for the three months ended June 30, 2026 (vs. $2,171.3 million in Q2 2025).
- Gross profit: $512.5 million for Q2 2026.
- Income from operations: $291.2 million for Q2 2026.
- Net income: $192.1 million for Q2 2026; Net income excluding special items: $210.1 million for Q2 2026.
- Diluted EPS: $2.15 reported; Diluted EPS excluding special items: $2.35 for Q2 2026.
Business Highlights
- Total corrugated products shipments rose 24.3% per day and in total versus Q2 2025, driven in part by acquired operations.
- Legacy packaging business shipments increased 4.1% per day year-over-year with the same number of shipping days in each period.
- Containerboard production continued at full capacity; the company reduced export sales to support corrugated products demand and reported improved mill performance including acquired Greif mills.
- Acquired Greif operations contributed earnings through strong volumes at corrugated plants and improved mill performance; measurement-period adjustments benefited depreciation expense modestly.
- Company announced and began implementing containerboard and corrugated products price increases and expects further price realization and higher packaging volumes entering Q3 2026.
Original SEC Filing:
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