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Packaging Corp of America PKG Q2 2026 earnings

Reported July 22, 2026 · After market close

Revenue$2.5BMiss by $2.8M
Adjusted EPS$2.35Beat by $0.04
Revenue estimate$2.5B
EPS estimate$2.31
“We achieved an all-time quarterly record in total corrugated shipments in our legacy corrugated operations. Demand remained strong throughout the entire quarter, and we began to meaningfully realize the first of our previously announced price increases in the corrugated products business. The acquired Greif business contributed to earnings, driven by strong volumes at the corrugated plants and improved operational performance at the mills, with production consistently exceeding capabilities at the time of the acquisition. We continued to operate our mill system at full capacity and reduced export sales by approximately 30,000 tons from first quarter levels to support our corrugated products demand. Our volumes and outstanding operating performance across our businesses helped us mitigate significantly higher freight and recycled fiber costs.”
Mark W. Kowlzan

Next report

Oct 28, 2026 (in a month)
Revenue estimate$2.6B
EPS estimate$2.95

Financials

Q2 2026

Income statement

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Revenue$2.5B+14.7%
Gross profit$512.5M+6.1%
Operating income$291.2M-12.7%
Net income$192.1M-20.5%
EPS (diluted)$2.15-19.5%

Balance sheet

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Cash & equivalents$442.8M-43.8%
Total debt$4.4B+56.7%
Total equity$4.7B+0.6%
Total assets$11.0B+21.8%

Cash flow

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Operating cash flow$376.0M+25.5%
CapEx$205.9M+21.3%
Free cash flow$170.1M+30.9%

Valuation & ratios

Valuation

as of 09/17/26
See full
Market cap$20.62B+8.1%
Enterprise value$24.58B+16.5%
P/E29.8×+8.7×
P/S2.2×0.0×

Profitability

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Gross margin20.1%-2.0pp
Operating margin10.9%-3.5pp
Net margin7.3%-3.2pp
FCF margin7.8%+0.5pp

Returns & leverage

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Return on equity14.9%-5.8pp
Debt / equity0.9×+0.3×
Current ratio2.9×-0.6×

Segments

By segment

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Packaging$2.3B+15.2%
Paper$157.3M+7.9%

By product

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Trade$2.5B+14.7%
Intersegment$41.6M+7.2%

FAQ

When did Packaging Corp of America report Q2 2026 earnings?
Packaging Corp of America (PKG) reported Q2 2026 earnings on July 22, 2026 after market close.
What were Packaging Corp of America's Q2 2026 revenue and EPS?
Packaging Corp of America reported revenue of $2.5B and adjusted eps of $2.35 for Q2 2026.
Did Packaging Corp of America beat estimates in Q2 2026?
Revenue missed the consensus estimate of $2.5B by $2.8M. EPS beat the consensus estimate of $2.31 by $0.04.
How did Packaging Corp of America's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.7% from $2.2B a year earlier.
Where can I find Packaging Corp of America's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-312651) and the 10-Q periodic report (0001193125-26-339405) directly on SEC EDGAR. The filing index links above go to sec.gov.