Noticias y eventos de Packaging Corp of America (PKG)PKGPackaging Corp of America

Packaging Company Q2 Revenue at $2.49B, Slightly Below Expectations

Reports Q2 revenue $2.49B, consensus $2.5B. CEO Mark Kowlzan said, "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...Looking ahead as we move from Q2 into Q3, we expect continued strong demand in the Packaging segment and corrugated products volume to increase with one more shipping day. Prices for containerboard and corrugated products will be higher as we complete the implementation of our first announced price increase and begin to realize our second announced price increase. We expect improvement in benefits costs due to Q2 unfavorability that is not expected to repeat in Q3.."

Packaging Corp. Q3 EPS Ex-Items at $2.91, Below Consensus

Packaging Corp. sees Q3 EPS ex-items $2.91, consensus $2.94

Meta Platforms Stock Rises $38.62 to $670.11

Notable gainers among liquid option names this morning include Meta Platforms Inc (META) $670.11 +38.62, Weyerhaeuser (WY) $23.43 +0.93, FactSet (FDS) $249.95 +8.05, Smurfit Kappa Group Plc (SW) $44.38 +1.39, and Packaging Corp. (PKG) $231.44 +6.95.