PCA Q3 2024 Earnings Report
Key Takeaways
Packaging Corporation of America reported a strong third quarter with net income of $238 million, or $2.64 per share. Excluding special items, net income was $239 million, or $2.65 per share. The results were driven by higher volume and prices in the Packaging segment and strong performance in the Paper segment.
Net income for the third quarter 2024 was $238 million, or $2.64 per share.
Excluding special items, net income was $239 million, or $2.65 per share.
Net sales for the third quarter 2024 were $2.2 billion.
Corrugated products shipments per day increased by 11.1% compared to the third quarter of 2023.
PCA
PCA
PCA Revenue by Segment
Forward Guidance
PCA expects fourth quarter earnings of $2.47 per share, excluding special items.
Positive Outlook
- Demand in the Packaging segment is expected to remain strong with corrugated shipments-per-day continuing to strengthen and slightly higher containerboard volume.
- Continued realization from the previously announced price increases.
- Higher export prices are expected.
- Prices and mix in the Paper segment should be fairly flat.
- Containerboard inventory will be built prior to year-end.
Challenges Ahead
- Total shipments for the corrugated business will be impacted by two less shipping days.
- Recent hurricane damage to the strawberry crops in Florida will impact total shipments.
- A seasonally less rich mix compared to the third quarter is expected.
- Shipments in the Paper segment will be lower versus the seasonally stronger third quarter.
- Operating and converting costs are expected to increase driven by higher seasonal energy costs and chemical costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income