Financial Data and Key Metrics Changes - First quarter net income was $147 million or $1.63 per share, down from $198 million or $2.20 per share in the first quarter of 2023, with adjusted net income of $155 million or $1.72 per share excluding special items [90] - Total company EBITDA for the first quarter was $333 million in 2024 compared to $405 million in 2023 [90] - The decrease in earnings per share was primarily driven by lower prices and mix in the Packaging segment and Paper segment, higher scheduled mill outage expenses, and increased depreciation [3][16] Business Line Data and Key Metrics Changes - In the Packaging segment, EBITDA excluding special items was $326 million with sales of $1.8 billion, resulting in a margin of 18.1%, down from 21.7% in the previous year [5] - Corrugated product shipments per workday increased by 11%, and total shipments were up 9.2% compared to the first quarter of 2023 [7] - In the Paper segment, EBITDA was $41 million with sales of $164 million, resulting in a margin of 25%, down from 27% in the previous year [11] Market Data and Key Metrics Changes - Domestic containerboard and corrugated products prices and mix increased slightly from the fourth quarter of 2023, but were down $1.19 per share compared to the first quarter of 2023 [8] - Export containerboard prices and mix were down $0.14 per share compared to the first quarter of 2023 [8] - The order backlog remained strong despite challenges from inflation and higher interest rates [7] Company Strategy and Development Direction - The company continues to focus on capital spending and optimization strategies within its box plant system to enhance revenue growth and customer service [9] - The company expects to build inventories back to targeted levels by the end of the second quarter [5] - The management emphasized the importance of aligning investments with customer needs to drive growth [41] Management Comments on Operating Environment and Future Outlook - Management expects continued strong demand and higher shipments in the Packaging segment, with anticipated price increases [16] - The Paper segment is expected to see strong orders, but volumes may be impacted by a scheduled maintenance outage [16] - Operating and converting costs are expected to be slightly lower, but freight and logistics expenses will increase due to rail rate hikes [17] Other Important Information - Cash provided by operations totaled $260 million, with free cash flow reaching a record $184 million for the first quarter [14] - The company revised its estimated cost impact of scheduled mill outages for the year to $0.89 per share, down from $0.96 per share previously [14] Q&A Session Summary Question: Early trends in bookings and billings for Q2 - Bookings remain strong, up 8% as of now, with expectations for a strong second quarter [22] Question: Vertical integration and business mix - Vertical integration in Q1 was around 90%, slightly below the previous quarter [24] Question: EBITDA margin loss explanation - The margin gap was attributed to delayed price increases and persistent inflation affecting costs [31][32] Question: Demand improvement in specific sectors - Demand improved across various segments, including e-commerce, agriculture, food, and heavy manufacturing [38] Question: Future capital expenditures - Full-year capital expenditures are expected to be in the high $400 million range, with ongoing investments in box plants [52] Question: Pricing mechanisms and inflation - The company is exploring various pricing mechanisms with customers to address inflationary pressures [70] Question: Competitive landscape changes due to mergers - Management does not foresee significant changes in the domestic marketplace due to competitors' mergers [86]

Reported earnings in the first quarter of 2024 include special items primarily for certain costs at the Jackson, AL mill for paper-to- containerboard conversion related activities. Excluding special items, the ($.48) per share decrease in first quarter 2024 earnings compared to the first quarter of 2023 was driven primarily by lower prices and mix in the Packaging segment ($1.33) and Paper segment ($.08), higher scheduled mill outage expenses ($.10), higher depreciation ($.03), higher expenses related to co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 1-15399 (Exact Name of Registrant as Specified in its Charter) | Delaware | | --- | (State or Other Jurisdiction of Incorporation or Organization) 1 No ...

Packaging Corporation of America (NYSE:PKG) Q4 2023 Earnings Conference Call January 25, 2024 9:00 AM ET Company Participants Mark Kowlzan – Chairman and Chief Executive Officer Tom Hassfurther – Executive Vice President-Corrugated Products Bob Mundy – Chief Financial Officer Conference Call Participants Mark Weintraub – Seaport Research Partners Mike Roxland – Truist Cashen Keeler – Bank of America Securities Gabrial Hajde – Wells Fargo Anthony Pettinari – Citi Phil Ng – Jefferies Charlie Muir-Sands – BNP ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-15399 (Exact Name of Registrant as Specified in its Charter) Indicate by check mark whether the registrant (1) has filed all reports requ ...

Packaging Corporation of America (NYSE:PKG) Q3 2023 Earnings Conference Call October 24, 2023 9:00 AM ET Company Participants Mark Kowlzan - Chairman and Chief Executive Officer Tom Hassfurther - Executive Vice President, Corrugated Products Bob Mundy - Executive Vice President and Chief Financial Officer Conference Call Participants George Staphos - Bank of America Securities Mark Weintraub - Seaport Research Partners Mike Roxland - Truist Securities Anthony Pettinari - Citi John Dunigan - Jefferies Operat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-15399 (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 36-427705 ...

Packaging Corporation of America (NYSE:PKG) Q2 2023 Earnings Conference Call July 25, 2023 9:00 AM ET Company Participants Mark Kowlzan – Chairman and Chief Executive Officer Tom Hassfurther – Executive Vice President-Corrugated Products Bob Mundy – Chief Financial Officer Conference Call Participants George Staphos – Bank of America Securities Mark Weintraub – Seaport Research Partners John Dunigan – Jefferies Anthony Pettinari – Citi Operator Good morning, everyone, and thank you for joining Packaging Cor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-15399 (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 36-42770 ...

Packaging Corp of America (NYSE:PKG) Q1 2023 Earnings Conference Call April 25, 2023 9:00 AM ET Company Participants Mark Kowlzan - Chairman of the Board & CEO Thomas Hassfurther - EVP, Corrugated Products Robert Mundy - EVP & CFO Conference Call Participants George Staphos - Bank of America Merrill Lynch Mark Weintraub - Seaport Research Partners Anthony Pettinari - Citigroup Operator Thank you for joining Packaging Corporation of America's First Quarter 2023 Earnings Results Conference Call. Your host tod ...